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Financial Literacy and Financial Management: A Study on Households in Peninsular Malaysia

This paper examines the level of financial literacy among Malaysian households in terms of financial knowledge in managing their income and debt, financial planning and the elements of financial management. In terms of data collection, questionnaires were distributed to households in Peninsular Mala...

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Main Authors:	Amran, Noor Afza, Sawandi, Norfaiezah, Shaari, Hasnah, Saad, Ram Al Jaffri
Format:	Conference or Workshop Item
Published:	2018
Subjects:	Q Science (General)
Online Access:	http://repo.uum.edu.my/25277/
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id	my.uum.repo.25277
record_format	eprints
spelling	my.uum.repo.252772018-12-11T02:39:32Z http://repo.uum.edu.my/25277/ Financial Literacy and Financial Management: A Study on Households in Peninsular Malaysia Amran, Noor Afza Sawandi, Norfaiezah Shaari, Hasnah Saad, Ram Al Jaffri Q Science (General) This paper examines the level of financial literacy among Malaysian households in terms of financial knowledge in managing their income and debt, financial planning and the elements of financial management. In terms of data collection, questionnaires were distributed to households in Peninsular Malaysia (Kedah, Pulau Pinang, Perak, Selangor, Johor, Kelantan and Terengganu). Based on the analysis carried out, findings reveal that around 25% of Malaysians have done financial planning for their daily expenses. About 44% of the decision on spending is done by the breadwinner (man in the family) and 24% is made by both husband and wife. In terms of financial management, it is found that males are wiser in terms of managing the money. The older group has a better understanding of managing their money as compared to the younger generation. Also, the location and level of education influence the behavior of individuals in managing their money. Thus, relevant authorities, such as Bank Negara Malaysia, need to be more aggressive in educating the public about the importance of financial education and planning. 2018 Conference or Workshop Item PeerReviewed Amran, Noor Afza and Sawandi, Norfaiezah and Shaari, Hasnah and Saad, Ram Al Jaffri (2018) Financial Literacy and Financial Management: A Study on Households in Peninsular Malaysia. In: The 4th International Conference on Quantitative Sciences and Its Applications (ICOQSIA 2016), 7-9 Ogos 2018, Pulau Langkawi,Kedah.
institution	Universiti Utara Malaysia
building	UUM Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	Universiti Utara Malaysia
content_source	UUM Institutionali Repository
url_provider	http://repo.uum.edu.my/
topic	Q Science (General)
spellingShingle	Q Science (General) Amran, Noor Afza Sawandi, Norfaiezah Shaari, Hasnah Saad, Ram Al Jaffri Financial Literacy and Financial Management: A Study on Households in Peninsular Malaysia
description	This paper examines the level of financial literacy among Malaysian households in terms of financial knowledge in managing their income and debt, financial planning and the elements of financial management. In terms of data collection, questionnaires were distributed to households in Peninsular Malaysia (Kedah, Pulau Pinang, Perak, Selangor, Johor, Kelantan and Terengganu). Based on the analysis carried out, findings reveal that around 25% of Malaysians have done financial planning for their daily expenses. About 44% of the decision on spending is done by the breadwinner (man in the family) and 24% is made by both husband and wife. In terms of financial management, it is found that males are wiser in terms of managing the money. The older group has a better understanding of managing their money as compared to the younger generation. Also, the location and level of education influence the behavior of individuals in managing their money. Thus, relevant authorities, such as Bank Negara Malaysia, need to be more aggressive in educating the public about the importance of financial education and planning.
format	Conference or Workshop Item
author	Amran, Noor Afza Sawandi, Norfaiezah Shaari, Hasnah Saad, Ram Al Jaffri
author_facet	Amran, Noor Afza Sawandi, Norfaiezah Shaari, Hasnah Saad, Ram Al Jaffri
author_sort	Amran, Noor Afza
title	Financial Literacy and Financial Management: A Study on Households in Peninsular Malaysia
title_short	Financial Literacy and Financial Management: A Study on Households in Peninsular Malaysia
title_full	Financial Literacy and Financial Management: A Study on Households in Peninsular Malaysia
title_fullStr	Financial Literacy and Financial Management: A Study on Households in Peninsular Malaysia
title_full_unstemmed	Financial Literacy and Financial Management: A Study on Households in Peninsular Malaysia
title_sort	financial literacy and financial management: a study on households in peninsular malaysia
publishDate	2018
url	http://repo.uum.edu.my/25277/
_version_	1644284278212657152
score	13.211869

Financial Literacy and Financial Management: A Study on Households in Peninsular Malaysia

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