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Financial literacy and financial health among Malaysian

Flora, Francis (2015) Financial literacy and financial health among Malaysian. Masters thesis, Universiti Utara Malaysia.


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The aim of this research paper is to examine the level of financial literacy and financial health among Malaysian aged between 18 to 45 years old. This research carries out three objectives; (i) to analysis determinants of financial literacy among Malaysian, (ii) to explore strategies to enhance financial literacy among Malaysian and (iii) to examine the relationship between financial literacy and financial health in Malaysia. Primary data collection method, through a well-structured questionnaire is used to test the level of financial literacy and financial health among Malaysian. A total of 2500 respondents were randomly selected from Peninsular Malaysia to answer this questionnaire. This study further employed various research design namely, descriptive analysis, correlation analysis, Independent Samples T-Test, One-Way ANOVA and regression analysis using enter and stepwise method to test the level of financial literacy and financial health of individuals in Malaysia. The finding of this study revealed that saving management, investment skills, parent’s characteristics and debt management have a significant correlation with financial literacy. In addition, this study also identified men aged between 18 to 25 years old as well as earn monthly income less than RM1500 are weak in terms of financial literacy. Moreover, results of this study also prove that, certificate holders as well as self-employed are financially illiterate and need to be given extra attention to these groups to enhance their financial literacy level. In this regards, this paper has suggested various strategies to improve the level of financial literacy among Malaysian. The enforcement of financial education start early at primary school level or at pre-school level is the best strategy to enhance the financial literacy of Malaysian. This is because; good financial literacy can save a person from debt burden and bankruptcies as well as help to improve their financial health overall

Item Type: Thesis (Masters)
Uncontrolled Keywords: Financial literacy, financial health, strategies, Malaysian
Subjects: H Social Sciences > HG Finance
Divisions: School of Economics, Finance & Banking
Depositing User: Mr. Badrulsaman Hamid
Date Deposited: 10 Apr 2016 02:36
Last Modified: 10 Oct 2017 10:00
URI: http://etd.uum.edu.my/id/eprint/5566

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