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Financial Literacy and Money Management among the Young |
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| รหัสดีโอไอ | |
| Creator | Rattana Waranyasathid |
| Title | Financial Literacy and Money Management among the Young |
| Contributor | Khin Zar Win Htin |
| Publisher | Stamford International University Thailand |
| Publication Year | 2563 |
| Journal Title | ASEAN Journal of Management & Innovation |
| Journal Vol. | 7 |
| Journal No. | 1 |
| Page no. | 79 - 89 |
| Keyword | Money Management, Savings and Cash Management, Financial Literacy, Basic and Advanced Financial Literacy |
| URL Website | http://ajmi.stamford.edu |
| Website title | AJMI -ASEAN Journal of Management & Innovation |
| ISSN | 2351-0307 |
| Abstract | The aim of this study is to analyze the relationship between financial literacy, both basic and advanced, and money management among the youth. This includes saving and cash management. Data sets were collected using questionnaire surveys from undergraduate students in Bangkok. A regression analysis was conducted to test the relationship of financial literacy (the independent variable) and money management (the dependent variables). The results indicate that in the case of students who have basic financial literacy, i.e., understand inflation, the effects of interest rates, and how risk diversification works, there is a close relationship to money management. In contrast, in the case of students who have advanced financial literacy, i.e., have a solid grasp of risk-return tradeoffs, basic asset pricings, and knowledge in bonds, stocks and mutual funds, there is a weak relationship between literacy and money management. This is a rather surprising finding as it seems that more financially knowledgeable students should be more aware of how to manage money. These findings will be useful for policymakers and institutional educators to improve their curricula, which could help to improve the financial well-being of undergraduate students. |
