Savings and financial literacy: a brief review of selected literature

Brochado, Ana; Mendes, V.M.F.

doi:10.26619/ual-cicee/wp05.2021

Cited by 2 publications

References 23 publications

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Enhancing Financial Literacy

Manoharan,

Nithya,

Razak

et al. 2024

Emerging Perspectives on Financial Well-Being

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Modern financial literacy is necessary for making smart financial decisions, navigating complex markets, and planning ahead. Financial literacy's history and importance in today's complex financial systems and diverse investment options are examined in this chapter. Financial literacy knowledge, attitudes, and behaviors are examined, as well as international campaigns. The history, benefits, methods, and components of financial literacy are covered in this chapter. The complex global economy has boosted US financial education credibility. The chapter claims financial literacy prevents mistakes, prepares for disasters, and helps achieve financial goals. To improve financial literacy, it covers credit, budgeting, and saving. Financial education can protect the Indian economy, boost growth, and reduce poverty. Financial literacy efforts by the Indian government and regulators are also examined. The authors found that financial education helps people make smart financial decisions and build wealth.

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Enhancing Financial Literacy

Manoharan,

Nithya,

Razak

et al. 2024

Emerging Perspectives on Financial Well-Being

View full text Add to dashboard Cite

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Assessing the Financial Literacy of the Blue-Collar Job Workers in terms of Financial Management Practices

Alarcon,

Pamisa,

Alarcon

et al. 2024

JIP

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The study aimed to assess the financial literacy of blue-collar workers in Valencia City, Philippines, based on their financial management practices. It employed a quantitative approach, using descriptive statistics to analyze data collected from 100 randomly chosen participants. The study found that blue-collar workers in Valencia City showed moderate proficiency in saving, managing expenses and bills, and setting financial goals. They also displayed a fair understanding of financial management principles. However, investment practices were limited due to concerns about scams and distrust, while debt management was rarely practiced due to income fluctuations from hourly wages and project-based work. Despite these challenges, the overall results suggest a moderate financial literacy level of among this group. The study recommends that financial literacy education must be improved. It also encourages companies to provide financial education programs for their employees. And support initiatives that expand access to affordable financial services and promote fair lending practices for low- and moderate-income individuals.

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Savings and financial literacy: a brief review of selected literature

Cited by 2 publications

References 23 publications

Enhancing Financial Literacy

Enhancing Financial Literacy

Assessing the Financial Literacy of the Blue-Collar Job Workers in terms of Financial Management Practices

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