This study aims to determine the level of financial literacy among the millennial generation and to examine the correlation of their financial knowledge, financial attitude, and financial skills with their financial behavior. Multiple choice questions were used to measure financial knowledge with results grouped into three categories: low, moderate, and high. Financial attitude, financial skills, and financial behavior were also grouped using the quartile method into three categories: poor, fair, and good. Chi-squared analysis was used to test the hypotheses, with correspondence analysis conducted to identify the characteristics of the millennial generation and to graphically illustrate the gap. Regarding financial attitude, financial skills, and financial behavior, the proportions of respondents in the 'fair' category, were 70.6%, 66.5%, and 72.2%, respectively. Significant relationships were found not only between financial attitude and financial management behavior, but also between financial skills and financial management behavior. However, the relationship was not significant between financial knowledge and financial behavior.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
customersupport@researchsolutions.com
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.