2013
DOI: 10.7763/ijtef.2013.v4.309
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FinancialLiteracyand Satisfaction in Malaysia: A Pilot Study

Abstract: Abstract-This paper reports the results of a pilot study examining the factors that contribute to the level of financial literacy among selected Malaysian public and its relationship with financial satisfaction. Among pre-identified antecedents of financial literacy, financial planning was found to exhibit the strongest effect on the literacy level. The literacy level then explains reliably the level of financial satisfaction among the 199 respondents selected for the study.The actual study intends to collect … Show more

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Cited by 17 publications
(12 citation statements)
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“…Financial literacy can be described as the ability to manage money in the world in terms of how people make to earn it and invest to increase the amount of money. According to Ali et al, (2013), it was a component to measure how well the person can use the personal financial information and understand on how to manage the financial. Financial literacy is how people understand about managing money and apply the knowledge to make effective financial decisions.…”
Section: Financial Literacymentioning
confidence: 99%
“…Financial literacy can be described as the ability to manage money in the world in terms of how people make to earn it and invest to increase the amount of money. According to Ali et al, (2013), it was a component to measure how well the person can use the personal financial information and understand on how to manage the financial. Financial literacy is how people understand about managing money and apply the knowledge to make effective financial decisions.…”
Section: Financial Literacymentioning
confidence: 99%
“…The determinant factors were identified based on previous studies which established the relationship between financial literacy and the following three factors, namely hopelessness (Murphy, 2013), religiosity (Alam, Mohd & Hisham, 2011) and financial satisfaction (Ali, Rahman & Bakar, 2013). It should be noted that some improvement on the items were made and added to the constructs to ensure compatibility with the area of Islamic financial literacy as well as the context of the study.…”
Section: Methodsmentioning
confidence: 99%
“…According to Azwadi Ali (2013), financial literacy can be defined as how far an individual can understand and use information related to personal finance. For instance, someone with financial literacy will compare the interest rates in different banks before deciding the appropriate bank for a car loan.…”
Section: Literature Reviewmentioning
confidence: 99%
“…The financially literate person will plan and spend for the well-being of his or her family (Azwadi Ali et al, 2013). Delafrooz and Paim (2011) contended that an individual who lacks financial literacy will encounter stress in managing income and expenditure.…”
Section: Literature Reviewmentioning
confidence: 99%