Financial Literacy Among Gen Y In Malaysia


Tay, Lee Ying (2019) Financial Literacy Among Gen Y In Malaysia. In: 9th International Economics and Business Management Conference (IEBMC 2019), 2-3 Nov 2019, The Imperial Heritage Hotel Melaka, Malaysia, Melaka, Malaysia.

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Malaysians have been reported to have poor personal financial management due to low financial literacy which can be seen in high bankruptcy rate. Poor personal financial management among the adults has raised an alarming signal on the importance of having financial knowledge which can help individuals to make good decisions on financial matters. The objective of this study is to determine the current level of financial literacy among the Generation Y in Malaysia. The financial literacy is measured in three ways in these studies namely saving / borrowing, insurance / protection, as well as investment. A survey was carried out among 500 university students using convenience sampling technique. The collected data was descriptively analysed. Generally, the findings showed 65 percent of respondents obtain financial information through social media, followed by official website. Most of the respondents demonstrated low to moderate score in their knowledge of personal financial management and have some grasp of concepts such as time value of money, insurance provider, and types of investment. The study also highlights that higher score is found in certain demographic groups-gender, ethnicity and early exposure on personal finance education. This study also suggests appropriate strategies for education institutions, government and relevant authorities to improve financial knowledge among the younger generation.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Intangible assets, voluntary disclosure, resources based view, technology sector.
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Business (FOB)
Depositing User: Ms Rosnani Abd Wahab
Date Deposited: 26 Jan 2022 02:22
Last Modified: 26 Jan 2022 02:22


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