‘Cradle to Grave’ Financial Literacy Programs and Money Management

Abstract

The objective of this paper is to develop an integrated conceptual model, termed as the "cradle to grave model" that forms the link between the roles of educational agents, socialisation agents and the media with financial literacy and its eventual impact on money management. The paper also proposes the moderating effects of money attitude between financial literacy and money management for future empirical research. The researchers deliberated on a rigorous literature to conceptualise the model. It is envisioned that the paper will assist individual citizens and the policy makers in understanding the use of educational institutions, society and media to intellectualize financial literacy in achieving money management. The proposed conceptual model by the researchers should not be generalized until further empirical testing. Auxiliary research is desired to empirically validate the concept through systematic investigations and devising of appropriate tools for quantification. The idea is original and makes the foundational contribution for an inaugural stream of financial literacy and money management research.

Perceived inclusion of Islamic finance: The effects of attitudes, experience, literacy, religiosity, and social influences

“…These assumptions are based on the findings of prior studies (Karlan, Osman, & Shammout, 2021;Zaid, 2019;Zauro, 2017), social learning theories, and the financial capability approach (Bandura, 1977;Kempson et al, 2013). In addition, this study proposes the mediating role of ATTIF (Ajzen, 1991;Saurabh & Nandan, 2018;Sundarasen & Rahman, 2017) and the moderating effect of Islamic financial literacy (IFL). According to social learning theory (SLT), a person's behavioural changes depend on the interaction between personal factors and environmental circumstances.…”

Identifying Relevant Predictor Variables for a Credit Scoring Model using Compromised-Analytic Hierarchy Process (Compromised-AHP)

“…Loan applicant's demographic indicators involve the characteristics of the applicant which among others cover age [38][39]47,48,[50][51][52][53][54], marital status [2,47,50-52]), gender [2,47,50,54], race [2], number of dependents [40][41][42]47,50,52,53], and social status [43,[52][53][54]…”

“…Employment indicators cover the industry and nature of work that the applicant involved in together with the employment and unemployment benefit [44]. Some of the important indicator variables discussed in the literature are type of employer [41,44,54,57], job position [45,54,57], length of year in current employment [43,46], and length of year in previous employment [2].…”

“…Potential client's behaviour is usually related to behaviour that is relevant to money management [31]. Thus, some of the potential indicator variables are the checking accounts [43,54,56],the number of payments per year and payment intervals [48,53,54,55,57]), and the loan/credit history [35,41,49,55].…”

The Influence of Gender and Ethnicity on Young Adults’ Participation in Financial Education Programme

“…Low levels of financial management may result low dimensions of budgetary prosperity and it makes troublesome for youth to accomplish their monetary needs which are fundamental for living (Hilgert, Hogarth, & Beverly, 2003;Lusardi & Mitchell, 2007). Further, , money related proficiency prediction of youth is essencially critical factor because the budgetary learning and abilities that are developed early stages of the life could create an establishment for future monetary conduct and prosperity (Beverly & Burkhalter, 2005;Martin & Oliva, 2001).…”