Financial Literacy among Malaysian: Level of Financial Knowledge Score

N. Sawandi*, A. S Abu Bakar, H.Shaari, R. A. Saad and N. A. Amran
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N. Sawandi*: Tunku Puteri Intan Safinaz School of Accountancy, UniversitiUtara Malaysia,06010Sintok,Kedah,Malaysia
A. S Abu Bakar: School of Economic, Finance & Banking Universiti Utara Malaysia, 06010 Sintok, Kedah, Malaysia
H.Shaari: Tunku Puteri Intan Safinaz School of Accountancy, UniversitiUtara Malaysia,06010Sintok,Kedah,Malaysia
R. A. Saad: Tunku Puteri Intan Safinaz School of Accountancy, UniversitiUtara Malaysia, 06010 Sintok, Kedah, Malaysia
N. A. Amran: Tunku Puteri Intan Safinaz School of Accountancy, UniversitiUtara Malaysia, 06010 Sintok, Kedah, Malaysia

The Journal of Social Sciences Research, 2018, 300-304 Special Issue: 6

Abstract: This study aims to provide empirical evidence on the current level of financial knowledge score among households in Malaysia. A survey approach was employed to gather research data. The survey was carried out between February to May 2017 in several states in Peninsular Malaysia. The selection of respondents was based on random sampling technique with a total of 451 respondents. Data collected was descriptively analyzed. The study finds that less than 50% of the respondents achieved high score of financial knowledge. The study also observes that female respondents have much lower level of financial knowledge than male respondents. The study concludes that the current level of financial knowledge among Malaysian is still low to moderate with less than half of the respondents achieved high score .Hence, it is crucial for the relevant and responsible Malaysian authorities and agencies to formulate and implement appropriate strategies in improving Malaysian financial literacy.

Keywords: Financial literacy; Knowledge score; Survey; Malaysia. (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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