Impact of Financial Literacy on Individual Saving: A Study in the Omani Context

Uddin, Mohammed Ahmar

doi:10.5430/rwe.v11n5p123

Cited by 7 publications

(7 citation statements)

References 12 publications

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“…Crime is a consequence of an individual's lack of self-control behaviour, and self-control theory has often been applied to studying saving behaviour abroad except in Thailand. Self-control has a significant effect on determining people's saving behaviour [25], which is consistent with research by García and Vila [28].…”

Section: Self-controlsupporting

confidence: 90%

“…Therefore, many countries, especially the United States and the European Union member states, are trying to promote financial literacy at the primary level and organise programmes for adults [23]. Financial literacy is positively correlated with saving behaviour and has the greatest impact on saving behaviour [24], consistent with research by Uddin [25]. Strongly influenced by the concept of financial literacy [26], this study relied on the work of Baidoo, et al [27].…”

Section: Financial Skill Factorsmentioning

confidence: 81%

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Financial Skill and Self-Control Affecting the Saving Behaviour of Income Earners in Thai Municipalities

Petpairote

2022

ijirss

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The researcher aimed to examine the saving behaviour of income earners in Thai municipalities using a survey research method. The questionnaires were validated by experts, and data from 400 questionnaires were analysed using multiple regression analysis (including the mean and standard deviation). The results showed that most people had savings, which, if the savers had no main income, would be sufficient to sustain life for less than three months. Also, their incomes were mostly allocated for expenses, with the remainder deposited as savings. The proportion of savings per month was about 5–15%, and the overall purpose of saving money was to provide for old age or retirement. The main factor used to choose a form of savings was the rate of return. The savings trend is likely to continue in the future. The internet was a source of knowledge about saving plans, and most savings were in the form of money deposited with financial institutions. The researcher found that personal factors, such as income and occupation; financial skill factors, such as financial literacy, financial behaviour, and financial attitude; and self-control influenced the saving behaviour of income earners in Thai municipalities with a statistical significance of p-value at 0.01.

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Section: Self-controlsupporting

confidence: 90%

Section: Financial Skill Factorsmentioning

confidence: 81%

Financial Skill and Self-Control Affecting the Saving Behaviour of Income Earners in Thai Municipalities

Petpairote

2022

ijirss

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“…Guru Pendidikan bisnis (ekonomi) berperan strategis untuk meningkatkan demand-side melalui financial literasi dibanding guru mata pelajaran lainnya (Sawatzki & Sullivan, 2017;Uddin, 2020). Berbasis kurikulum saat ini di Lembaga Pendidik Tenaga Kependidikan (LPTK), guru telah diajarkan mata kuliah manajemen keuangan dan salah satu kajian adalah keuangan keperilakuan.…”

Section: Pendahuluanunclassified

“…Mereka menyadari (OECD, 2013;Prasetyo et al, 2020;Travis, 2008;Uddin, 2020) bahwa dalam lingkungan eksternal yang dinamis dan tidak terprediksikan, membutuhkan analisis untuk mempersiapkan masa pensiun yang lebih baik. Riset terdahulu membuktikan ketika mereka menyiapkan bisnis sebelum kurang dari 5 tahun masa pension, maka probababilitas kegagalan lebih besar dibanding menyiapkan jauh hari sebelumnya.…”

Section: Hasil Dan Pembahasanunclassified

Peningkatan Literasi Keuangan Melalui Metode Stimulus-Respon

Yulianto

Wijaya

2022

JCE

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Abstrak. Keberhasilan program literasi keuangan dari Otoritas Jasa Keuangan (OJK) dari Pendidikan dasar ke Pendidikan tinggi, bergantung dari peran Guru. Riset terdahulu menjelaskan guru Pendidikan bisnis menghasilkan kompetensi literasi keuangan siswa lebih baik dibanding selain guru Pendidikan bisnis. Tujuan kegiatan ini adalah meningkatkan pemahaman guru Pendidikan bisnis atau ekonomi di Kota Semarang dalam literasi keuangan. Metode yang digunakan stimulus-respon dengan cara memberikan stimulus kasus nyata tentang literasi keuangan di materi dividing (pembagian), nilai waktu dari uang (time value of money), bunga tunggal (single interest), bunga majemuk (compound interest), inflasi (inflation), dan investasi (investment). Hasilnya, mereka merespon secara langsung secara interaktif yaitu semakin besar periode investasi yang dilakukan sekarang dan interest maka semaki besar nilai uang mendatang. Sebaliknya, ketika nilai uang mendatang menjadi lebih kecil ketika periode dan interest semakin besar. Guru dapat membedakan instrument investasi berdasarkan periode waktu dan interestnya. Abstract. The success of the financial literacy program from the Financial Services Authority (OJK) from basic education to higher education, relies on the role of the teacher. Previous research has shown that business education teachers produce students' financial literacy competencies that are better than business education teachers. The method of this activies was provide stimulus real cases about financial literacy of material distribution (division), time value of money, single interest, compound interest, inflation (inflation), and investment. ). As a result, they respond directly interactively, namely the greater the investment period now and the greater the value of money in the future. Conversely, when the future value of money becomes smaller when the period and interest are getting bigger. Teachers can distinguish investment instruments based on their time period and interests.

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“…An individual must have adequate financial knowledge and skills to make rational and effective decisions regarding finance and economic resources (Kurihara, 2013). In addition, individuals who are financially literate and understand well about financial services and products tend to have good financial management behavior (Uddin, 2020). According to Mahdzan & Tabiani (2013), financial literacy can be seen in individual financial decision making, starting from making mature financial plans and being able to manage every pattern of financial behavior.…”

Section: The Relationship Between Financial Literacy and Financial Ma...mentioning

confidence: 99%

The Effect of Financial Literacy on Financial Management Behavior in the Community of Kupang

Kwesley

Anastasia

Basana

2022

Global Conference on Business and Management Proceedings

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This study aims to determine the effect of financial literacy on financial management behavior in Kupang community. The population in this study is people who lived in Kupang city and the sample used in this study amounted to 143 respondents. The data in this study were collected through distributing questionnaires. The data analysis was performed using the Partial Least Square (PLS) method. The results indicate that financial literacy has a significant effect on financial management behavior in the Kupang community. The limitation of this study is only focused on respondents who are over 20 years old. The contribution of this research is the public can be aware of knowing the importance of having good financial management behavior.

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Impact of Financial Literacy on Individual Saving: A Study in the Omani Context

Cited by 7 publications

References 12 publications

Financial Skill and Self-Control Affecting the Saving Behaviour of Income Earners in Thai Municipalities

Financial Skill and Self-Control Affecting the Saving Behaviour of Income Earners in Thai Municipalities

Peningkatan Literasi Keuangan Melalui Metode Stimulus-Respon

The Effect of Financial Literacy on Financial Management Behavior in the Community of Kupang

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