The Role of Financial Literacy on Financial Behavior (2024)

Anstey, C. (2012). Women in the Private Sector: Good for Development and Business. In Remarks by World Bank Managing Director at the 2012 Annual Meetings Program of Seminars, Tokyo Japan.

Asaad, C. T. (2015). Financial literacy and financial behavior : Assessing knowledge and confidence, 24, 101–117.

Baker, H. K., KUmar, S., Goyal, N., & Gaur, V. (2019). How financial literacy and demographic variables relate to behavioral biases. Managerial Finance, 45(1), 121–146. https://doi.org/10.1108/MF-01-2018-0003

Bannier, C. E., & Neubert, M. (2016). Gender differences in financial risk taking: The role of financial literacy and risk tolerance. Economics Letters, 145, 130–135. https://doi.org/10.1016/j.econlet.2016.05.033

Bellet, E. (2018). Empowering Women Financially – The Why and the How. In The Fintech Handbook for Investors, Entrepreneurs and Finance Visionaries (Vol. 194, pp. 194–196).

Bianchi, M. (2017). “ Financial Literacy and Portfolio Dynamics .” Working Papers, (May).

Bottazzi, L., & Lusardi, A. (2016). Gender Differences in Financial Literacy : Evidence from PISA, (February).

Brown, M., & Graf, R. (2013). F INANCIAL LITERACY , H OUSEHOLD I NVESTMENT AND H OUSEHOLD D EBT : E VIDENCE FROM S WITZERLAND. Working Papers on Finance, 13(1).

Bucher-koenen, T., Lusardi, A., Börsch-supan, A., Fornero, E., Gasche, M., Haliassos, M., … Lefter, A. (2011). Financial Literacy and Retirement Planning in Germany. Journal of Pen, 10(4), 565–584.

Dahmen, P., & Rodríguez, E. (2014). Financial literacy and the success of small businesses: An observation from a small business development center. Numeracy, 7(1), 3.

Falahi, L., & Paim, L. (2011). Gender Differences in Financial Literacy among College Students. Journal of American Science, 7(6).

Fatoki, O. (2014). The Causes of the Failure of New Small and Medium Enterprises in South Africa. Mediterranean Journal of Social Sciences, 5(20), 922–927. https://doi.org/10.5901/mjss.2014.v5n20p922

Fonseca, R., & et al. (2010). What Explains the Gender Gap in Financial Literacy ? Working Papers, June.

Grohmann, A., Kouwenberg, R., & Menkhoff, L. (2015). Childhood roots of financial literacy. Journal of Economic Psychology, 51, 114–133. https://doi.org/10.1016/j.joep.2015.09.002

Hamdani, M. (2018). Analisis tingkat literasi keuangan dan pengaruhnya terhadap perilaku keuangan pada mahasiswa prodi manajemen universitas terbuka. Jurnal Bakti Masyarakat Indonesia, 1(1), 139–145.

Hasler, A. (2017). The Gender Gap in Financial Literacy : A Global Perspective.

Hussain, J., Salia, S., & Karim, A. (2018). Is knowledge that powerful ? Financial literacy and access to finance An analysis of enterprises in the UK. Financial Literacy and Access to Finance, 25(6), 985–1003. https://doi.org/10.1108/JSBED-01-2018-0021

Ida, & Dwinta, C. Y. (2010). Pengaruh Locus of Control, Financial Knowledge, Income Terhadap Financial Management Behavior. Jurnal Bisnis Dan Akuntansi, 12(3), 131–144.

Kumar, S., Tomar, S., & Verma, D. (2019). Women ’ s financial planning for retirement Systematic literature review and future research agenda. International Journal of Bank Marketing, 37(1), 120–141. https://doi.org/10.1108/IJBM-08-2017-0165

Lantu, D. C., Triady, M. S., Utami, A. F., & Ghazali, A. (2016). Pengembangan Model Peningkatan Daya Saing UMKM di Indonesia: Validasi Kuantitatif Model. Jurnal Manajemen Teknologi, 15(1), 77–93. https://doi.org/10.12695/jmt.2016.15.1.6

Lusardi, A., & Mitchell, O. S. (2007). Baby Boomer retirement security: The roles of planning, financial literacy, and housing wealth. Journal of Monetary Economics, 54(1), 205–224. https://doi.org/10.1016/j.jmoneco.2006.12.001

Lusardi, A., & Mitchell, O. S. (2008). PLANNING AND FINANCIAL LITERACY: HOW DO WOMEN FARE? National Bureau of Economic Research.

Lusardi, A., & Mitchell, O. S. (2011). FINANCIAL LITERACY AROUND THE WORLD : National Bureau of Economic Research.

Lusardi, A., & Tufano, P. (2015). DEBT LITERACY, FINANCIAL EXPERIENCES, AND OVERINDEBTEDNESS. Journal of Pension Economics & Finance, 14(4), 332–368.

Mandell, L., & Klein, L. S. (2009). The Impact of Financial Literacy Education on Subsequent Financial Behavior, (206), 15–24.

Mendes-da-silva, W. (2016). Development of a financial literacy model for university students. Management Research Review, 39(3), 356–376. https://doi.org/10.1108/MRR-06-2014-0143

Moon, C., Korea, S., Ohk, K., Korea, S., Choi, C., & Korea, S. (2014). Gender Differences in Financial Literacy among Chinese University Students and the Influential Factors*. Asian Women, 30(2).

Oktavianti, V., Hakim, M. ., & Kunaifi, A. (2017). Pengaruh Literasi Keuangan dan Persyaratan Kredit terhadap Akses Kredit Formal pada UMKM di Surabaya. Jurnal Sains Dan Seni Its, 6(2017), 1–5.

Ramalho, T. B., & Forte, D. (2019). Financial literacy in Brazil – do knowledge and self-con fi dence relate with behavior ? RAUSP Management Journal, 54(1), 77–95. https://doi.org/10.1108/RAUSP-04-2018-0008

Robb, C. A., & Woodyard, A. S. (2011). Financial Knowledge and Best Practice Behavior, (205), 60–70.

Scheresberg, C. D. B. (2013). Financial literacy and financial behavior among young adults: Evidence and implications. Numeracy, 6(2), 1–21. https://doi.org/http://dx.doi.org/10.5038/1936-4660.6.2.5

Siregar, R., & Veronica, S. (2012). Jurnal Akuntansi dan Keuangan Indonesia. Jurnal Akuntansi Dan Keuangan Indonesia, 9(1), 1–21.

Suandi, E., & Susilo, Y. S. (2011). Strategi Pengembangan Usaha Mikro Kecil Dan Menengah Di Provinsi Daerah Istimewa Yogyakarta *, 12, 45–55.

Widayanti et al. (2017). Pengaruh FInancial Literacy terhadap Keberlangsungan Usaha pada UMKM. Jurnal Ilmiah Manajemen & Bisnis, 18(2), 153–162.

Xiao, J. J., & Porto, N. (2017). Financial education and financial satisfaction. International Journal of Bank Marketing, 35(5), 805–817. https://doi.org/10.1108/IJBM-01-2016-0009

Xiao, J. J., Ahn, S. Y., Serido, J., & Shim, S. (2014). Earlier Financial Literacy and Later Financial Behaviour of College Students. International Journal of Consumer Studies, 38(6), 593 - 601.

Yoong, J. (2011). Financial illiteracy and stock market participation: Evidence from the RAND American Life Panel. Financial literacy: Implications for retirement security and the financial marketplace, 76.

The Role of Financial Literacy on Financial Behavior (2024)

FAQs

The Role of Financial Literacy on Financial Behavior? ›

A strong foundation of financial literacy can help support various life goals, such as saving for education or retirement, using debt responsibly, and running a business. Key aspects of financial literacy include knowing how to create a budget, plan for retirement, manage debt, and track personal spending.

What is the role of financial literacy on financial behavior? ›

A number of previous empirical studies found that, financially speaking, literate people tends to do budgeting, saving, controlling expenses, managing debt well, participating in stock market and planning pension fund, etc. In other words, the higher an individual's knowledge and understanding of financial concept, the ...

What is the likely influence of financial literacy on financial behaviors? ›

Financial illiteracy leads to poor financial behaviour, which includes behaviour on retirement planning (Agnew et al., 2013; Lusardi & Mitchell, 2007), savings and retirement (Bateman et al., 2010), stock market participation (Van Rooij et al., 2011), decisions on investment (Hassan Al-Tamimi & Anood Bin Kalli, 2009) ...

What is financial literacy quizlet? ›

What is financial literacy? the ability to use knowledge and skills to make effective and informed money management decisions.

What is the relationship between financial literacy and financial attitude? ›

Financial literacy as knowledge of the ability to manage finances, useful to improve the welfare of individual lives. Financial attitude can have important implications in financial literacy. Someone with a good financial attitude, will have good financial literacy as well.

Why is financial literacy so important? ›

Financial literacy can help individuals reach their goals: By better understanding how to budget and save money, individuals can create plans that define expectations, hold them accountable to their finances, and set a course for achieving important financial goals.

What are the Behavioural aspects of financial literacy? ›

Some common behavioral financial aspects include loss aversion, consensus bias, and familiarity tendencies. The efficient market theory which states all equities are priced fairly based on all available public information is often debunked for not incorporating irrational emotional behavior.

How does financial literacy affect a person? ›

Financial literacy is an indispensable skill in today's world. Beyond financial health, it empowers individuals, reduces stress, and fosters a sense of security. It involves budgeting, savings, investments, retirement planning, debt and risk management, and understanding financial products and concepts.

What influences your financial behavior? ›

Beyond individual factors, socioeconomic factors also significantly influence financial behaviour. Income level, access to financial services, and cultural norms can all play a role in shaping financial choices and opportunities (Collins et al., 2016).

What are the three most important aspects of financial literacy? ›

Three Key Components of Financial Literacy
  • An Up-to-Date Budget. Some tend to look at the word “budget” as tantamount to the word “diet,” but at its most basic, a budget is just a spending plan. ...
  • Dedicated Savings (and Saving to Spend) ...
  • ID Theft Prevention.

What is financial literacy in your own words? ›

What Is Financial Literacy? Financial literacy refers to the ability to understand and apply different financial skills effectively, including personal financial management, budgeting, and saving. Financial literacy makes individuals become self-sufficient, so that financial stability can be accomplished.

What does financial literacy begin with? ›

The foundation for financial literacy should be laid early in a child's life. As soon as they start understanding basic math, you can begin discussing simple money concepts. Use everyday activities like grocery shopping or counting their pocket money to introduce them to the value of money and basic calculations.

What is the central idea of financial literacy? ›

Financial literacy is a person's understanding of money topics. Someone who's financially literate would be able to set a budget, manage a bank account, and achieve a good credit score. Financial literacy could also include more complex skills like managing debt, buying insurance, investing, and retirement planning.

How does financial literacy affect financial behavior? ›

Many studies have demonstrated that persons with higher financial literacy are more likely to participate in desirable financial behaviors, such as deposits, mutual funds, and stocks, than those with lower financial literacy (Yang et al., 2022).

What is the theory about financial literacy and financial behavior? ›

Financial socialization theory is vital for understanding young adults' financial behavior. Financial socialization theory suggests that relationships among individuals influence the financial information the individuals receive which in turn results in financial literacy among them.

How does financial literacy affect financial decision making? ›

Strong financial knowledge and decision-making skills help people weigh options and make informed choices for their financial situations, such as deciding how and when to save and spend, comparing costs before a big purchase, and planning for retirement or other long-term savings.

How does financial literacy affect investment behavior? ›

Also, the relationship between financial literacy and investment behaviour of salaried individuals is studied. The results of the study suggests that financial literacy level of individuals affects the awareness as well as investment preferences of salaried individuals towards financial products.

What is the relationship between financial literacy and saving behavior? ›

Someone who has better financial knowledge tends to have better saving behavior (Henager & Mauldin, 2015;Jappelli & Padula, 2013;Joo & Grable, 2004;Lewis et al., 2008), have better preparation of retirement funds (Bucher-Koenen & Lusardi, 2011;Lusardi & Mitchelli, 2007), have less debt burden (French & McKillop, 2016; ...

What is the relationship between financial literacy and buying behavior? ›

The higher the financial literacy, the lower the impulsive buying behavior of a person. When individuals have good control, it will produce good considerations before making decisions.

How does financial literacy affect financial performance? ›

Managers/owners with financial literacy skills understand business-related financial concepts, including debt, savings, takaful, insurance, and investment, which ensure the good performance of their business.

Top Articles
Latest Posts
Article information

Author: Fr. Dewey Fisher

Last Updated:

Views: 6239

Rating: 4.1 / 5 (42 voted)

Reviews: 89% of readers found this page helpful

Author information

Name: Fr. Dewey Fisher

Birthday: 1993-03-26

Address: 917 Hyun Views, Rogahnmouth, KY 91013-8827

Phone: +5938540192553

Job: Administration Developer

Hobby: Embroidery, Horseback riding, Juggling, Urban exploration, Skiing, Cycling, Handball

Introduction: My name is Fr. Dewey Fisher, I am a powerful, open, faithful, combative, spotless, faithful, fair person who loves writing and wants to share my knowledge and understanding with you.