financial literacy questionnaire likert scale

Nearly all the countries in the world are facing the problem of financial literacy. Perceived financial literacy was measured, using a Likert scale 1–7, 1 = very low, 7 = very high. Thus, it has become essential to examine the determinants of financial literacy and to recognize its importance among working women. Sages and Grable (2009) produced evidence in their study that individuals with lower level of financial risk tolerance face difficulty in financial decision, and they are unsatisfied with their financial management competency. Financial literacy has many definitions in existing research as financial literacy officials have left the researchers/authors free to express and analyse financial literacy (Remund, 2010). As per the ASIC report (2003), it has been recognized worldwide that financial literacy is an important element of economic and financial stability and growth. For more information view the SAGE Journals Article Sharing page. According to Lusardi (2006), women with lower level of financial literacy are less likely to take retirement plans and they are more dependent on their family and friends for their saving and investment planning. Men possess more financial understanding than women. She can be reached at [email protected], Shikha Dua is working as an assistant professor at Rukmini Devi Institute of Advanced Studies with rich experience of more than 4 years in academia. Financial attitudes along with financial behaviour can also affect financial well-being. Z. KNOLL Melissa Knoll (melissa.knoll@ssa.gov), Office … (, D’Silva, B., D’Silva, S., Bhuptani, R. S. (, Kasman, M., Heuberger, B., Hammond, R. A. Ajzen (1991) identified that financial attitudes are the outcome of a certain behaviour of a decision-maker and the attitude can be entrenched through their economic and non-economic beliefs. Create a link to share a read only version of this article with your colleagues and friends. Improving financial literacy of the poor and vulnerable in Indonesia: An empirical analysis, United States Agency for International Development. The Financial Literacy Survey 2016 is Japan's first large-scale questionnaire survey conducted with the aim of understanding the current state of financial literacy, i.e., financial knowledge and financial … Howlett et al. include this measure into an overall score of financial literacy, it is counted 1 point for respondents who put themselves at 4 or 5 on the scale and 0 in all other cases. Sign in here to access free tools such as favourites and alerts, or to access personal subscriptions, If you have access to journal content via a university, library or employer, sign in here, Research off-campus without worrying about access issues. The three main factors—financial knowledge, financial behaviour and financial attitude—were recognized as very important factors to examine financial literacy. Financial literacy is an ability of individual to take considerable decisions in respect of the effective and efficient utilization of money. Financial Literacy Questionnaire – English. Feeble money management can influence the behaviour of consumers in such a way that make them more sensitive to a financial crisis. Thus, this definition reveals that the three important determinants to examine financial literacy are financial knowledge, financial behaviour and financial attitude. The financial management practices of participants were examined using a Likert scale comprising twenty four 5-point questions … Kasman, Heuberger, and Hammond (2018) highlighted that working women face greater pressure as they are expected to balance professional careers with the responsibilities of childbearing and child. Web survey powered by SurveyMonkey.com. In total, 394 questionnaires were coded into SPSS for data screening, data cleaning and spotting multivariate outliers, and during this procedure 42 questionnaires were dropped. The program was part of an Inclusive Workforce Development project sponsored by USAID/Indonesia. The training consisted of 18 sessions covering basics of financial literacy and employment–related soft skills. Reasons behind women’s less participation in financial decisions can be attributed to lack of financial education, less money management discussions with female members of the family and lack of awareness about innovative financial products and services (Roy & Jain, 2018). To measure financial behaviour, the questions related to savings behaviour, bill and loan repayment behaviour, responsible investment behaviour and financial planning behaviour, etc., were included in the questionnaire. A good model fit indices includes chi-square/degree of freedom (CMIN/df), goodness-of-fit indicators such as goodness-of-fit index (GFI) and adjusted goodness-of-fit index (AGFI) and badness of fit indicator like root mean square error of approximation (RMSEA). Second, the study covers financial literacy among working women only which may not be applicable to non-working women, financial literacy of men and students, etc. Table 1 contains the characteristics of the sample collected for the study. For more information view the SAGE Journals Sharing page. First, the questions … A linear additive model has been used with specified variables. Then only, real benefits of any financial education programme can be achieved. All these variables could be investigated in future research. A descriptive research design has been utilized for this study. The findings suggested that financial literacy authorities of India should focus more on increasing financial knowledge of women because they have financial attitude and behaviour, but lack financial knowledge as they are showing less interest in investment avenues. The outcome of the research work explains that financial attitude of working women is highly associated with financial literacy level. Sanderson (2015) defined financial literacy as the capability of an individual to use his/her knowledge and skills to take appropriate financial decision for effective management of financial resources. In terms of the assessment of the Financial Priorities of 4P‟s … Access to society journal content varies across our titles. Thus, H1 and H2 have been accepted in the study. Haque and Zulfiqar (2015) conducted a study on 300 working women of Pakistan who belong to non-financial sector to determine the association between financial attitude, financial literacy and financial behaviour among working women. Roy and Jain (2018) and Singh and Kumar (2017) found that financial literacy among women is very low and their level of financial knowledge are not satisfactory due to lack of clarity between insurance, saving and investment products. Mathavathani and Velumani (2014) undertook a study on financial literacy among rural women in Tamil Nadu. This result is consistent with other research studies on financial literacy that show that a woman has lower level of financial knowledge (Hung, Parker, & Yoong, 2009). By continuing to browse H1: Financial attitude is significantly associated with the financial literacy level of working women. They are also more willing to use high-cost borrowing options. However, people carrying less financial knowledge tend to restrict their financial decisions to outstanding debts, credit cards in place of cheaper alternatives, etc. The main objective was to determine how financial literacy influences investment decisions of individuals.The study utilized descriptive research design and targeted 100 employees working for SDA church in kenya. Developing better financial … Financial attitude can be defined as personal inclination towards financial matters. However, there can be a chance that other forms of the model (non-linear or multiplicative) could give different results from current result. D’Silva, D’Silva, and Bhuptani (2012) observed that females lack financial knowledge and they are highly risk averse. Angela Somcio. Increases in student financial literacy knowledge were found to relate to prior knowledge, job experience, the type of school they attend, the perceived acquisition of soft skills, and the intention to incorporate the training into their daily lives. Instructions. The study also identified that financial knowledge is an essential factor to determine financial literacy and financial decision-making skills of an individual (Robb & Woodyard, 2011). Satisfactory financial literacy level of people is important in order to increase their standard of living. Student’s positive attitude towards finance and money can affect their behaviour to achieve financial literacy and enhance financial knowledge. As India is facing financial illiteracy especially among women, the present study attempts to find out the association of financial knowledge, financial attitude and financial behaviour of working women with their financial literacy level. Soroshian and Teck (2014) concluded that money attitude of students positively affects the level of their financial literacy. A blueprint for national strategy of financial education was planned and released. The sample size of 394 working women from various public and private organizations of Delhi has been incorporated for the research. Please check you selected the correct society from the list and entered the user name and password you use to log in to your society website. To measure the financial literacy level, the present research was conducted among working women in Delhi, India. Sharing links are not available for this article. It was found that people with higher financial knowledge and working professionals show lower propensity effects. In present study, authors have presented an association of financial knowledge, financial behaviour and financial attitude towards the financial literacy level among working women in Delhi, India. Find out about Lean Library here, If you have access to journal via a society or associations, read the instructions below. Determinants of Successful Financial Inclusion in Low-Income Rural Pop... Agarwal, P., Ansari, M. S., Yadav, S., Kureel, R. (, Agarwalla, S. K., Barua, S. K., Jacob, J., Varma, J. R. (, Amagir, A., Groot, W., Brink, Maassen van den, Wilschut, A. Students from three universities were asked to participate in a short online survey of financial … Dwivedi, Purohit, and Mehta (2015) analysed the NCFE report on financial literacy and financial inclusion in India. Bonga and Mlambo (2016) highlighted concern on financial literacy improvement among women, particularly in developing nations. He can be reached at [email protected]. View or download all the content the society has access to. H3: Financial knowledge is significantly associated with financial literacy level of working women. Simply select your manager software from the list below and click on download. We describe and report the results of an 18-month long training of trainers program in financial literacy and soft skills designed to improve employability of poor and vulnerable Indonesian youth. The aforementioned literature review supports that financial attitude is a necessary determinant to identify financial literacy of individuals, and it also influences the level of financial literacy. They use both saving and investment financial instruments in their personal financial decision of life. Today, it has become very essential to create awareness for financial literacy as it can minimize the chances of being misled in investment decision. financial literacy of undergraduate graduate social work students across one and Southeastern state. In this research article, the researchers have tried to examine the factors that affect financial literacy among working women in India. To test the reliability and validity of constructs, confirmatory factor analysis model was estimated using analysis of moments structures (AMOS) version 20, and path analysis was used to measure the association of independent variable with dependent variable. Anthes (2004)s proposed an elaborative definition of personal financial literacy as the ability to know, analyse, manage and inform about the financial conditions that affect material well-being of an individual. Ramanaiah and Gowri (2011) suggested that lack of financial literacy and less knowledge about investment avenues have led to poor management of finance in MSME. Majority of the studies depicted inconclusive results. The present work is based on data collection through well-structured questionnaire. The authors declared no potential conflicts of interest with respect to the research, authorship and/or publication of this article. The present work gives insight in order to enhance their financial literacy. OECD (2013) defined financial literacy as a blend of skill, behaviour, awareness, attitude and knowledge of individual that is required to make sound financial decision leading towards the achievement of being financial well-being. A self administered questionnaire was given to the respondents to answer multiple choice questions and likert scale questions. This research is made possible by the generous support of the American people through the United States Agency for International Development (USAID). Given that the economic education literature links financial literacy to improved worker productivity, decreased absenteeism, and entrepreneurial success, these findings are encouraging for both the students involved and for their employers in Indonesia. Financial literacy, financial education and financial knowledge can be used interchangeably as has been argued by Al-Tamimi and Bin Kalli (2009), Howlett, Kees, and Kemp (2008) and Yoong, See, and Baronovich (2012). Human behaviour that is pertinent to financial decision-making and money management such as constructing appropriate budget programme and controlling it, quick payment of bills and regular saving nature is called financial behaviour (Bhushan & Medury, 2014; Kalekye & Memba, 2015). However, women are more particular for making budget and keeping track of their finances, but they are lacking in financial knowledge which affect some aspect of their financial behaviour (OECD, 2013). The definition of financial literacy is still unclear. We form a financial attitude score out of the responses to these 3 questions, with the maximum score of ... OECD INFE (2011) Measuring Financial Literacy: Core Questionnaire in Measuring Financial Literacy: Both participating trainers and students showed statistically significant increases in financial literacy knowledge, and student perceptions about their acquisition of soft skills improved as well. Hasler and Lusardi (2017) measured financial literacy by asking basic questions related to knowledge about numeracy (interest), compound interest, inflation and risk diversification. Indicators Measured by the Financial Literacy Survey Questions The financial literacy survey questionnaire and other measures in the NFEC’s toolkit are designed to assess several types of data. Thus, hypothesis H1 and H2 are accepted and H3 is rejected (Figure 6). This scale includes three constructs: financial knowledge, financial behaviour and financial attitude as identified by OECD (2013). Financial attitude is an independent variable for which the scale developed by Shockey (2002) and OECD (2013) have been used. It is an ability to plan ahead and maintain a savings account that matters. The OECD average is the average of the national average scores of the 10 OECD member countries that participated in the financial literacy … This free survey template is designed to ask individuals about their knowledge and experience with personal finances, mortgages, credit scores, etc. Their financial literacy level is low and they do not want to use online services for making savings and investments. Past researches concluded that there is a link between financial attitudes and financial literacy among youth (Grable & Lytton, 1998; Kasman, Heuberger, & Hammond, 2018). In contrast to the aforementioned, Huston (2010) argued that financial education and financial knowledge are just two dimensions of financial literacy and that financial literacy goes beyond these two. When you answer the questions… This site uses cookies. Advancing Financial Strategies to Achieve Financial Well-being. A structured questionnaire designed on a 5-point Likert scale has been used based on purposive sampling, and the goodness of fit is determined by analysis of moments structures (AMOS) by … Student Financial Literacy Survey The purpose of this survey is to measure the needs of financial education for students at South Seattle Community College. Lean Library can solve it. Login failed. are questions about financial attitudes, financial behaviors, financial knowledge, influences on financial literacy, and demographic information. If there is a question you do not feel comfortable answering, you may skip it. Data was gathered through the use self-administered questionnaire in a survey. Also, Delhi despite being the capital has not been studied. Third, the sample size taken for the study is very small. Sharma and Joshi (2015) identified the impact of financial literacy on the investment choice decision of women. This study is a descriptive research study in which a multidimensional construct has been used to measure financial literacy (Potrich, Vieira, & Kirch, 2014). De Bassa Scheresberg (2013) noted that people with higher level of financial literacy are more confident in making personal financial decision and their monetary outcomes are appropriate. Three distinct scales have been used for dependent and independent variable of this study. The main purpose of this research article was to find out factors associated with financial literacy of working women in India. Financial Literacy … Methodology The OECD/INFE questionnaire included in this toolkit is designed to collect relevant information about financial literacy and financial inclusion within a country, 4 and to compare levels of financial literacy and financial … Financial knowledge, another independent variable, has been examined with the measurement model proposed by Bhushan and Medury (2014) and Hasler and Lusardi (2017). To address the lack of a consensus regarding an appropriate instrument to measure financial literacy, the OECD and its International Network on Financial Education (INFE) developed a core questionnaire … Few researches have studied to find out the factors associated with financial literacy of working women in India, thus this research would help to fill those research gaps. The financial behavior mean score is created using questions 3, 4, and 5. It means more financial knowledgeable people can plan better for their retirement periods. Research indicates that attitude towards money may frame financial literacy among youth. I have read and accept the terms and conditions, View permissions information for this article. As women are very important part of the society and they have to take many household decisions, the ultimate concern should be how to improve their financial literacy as it not only affects family’s welfare but also benefits their financial planning and saving behaviour. ment of financial capability and evaluation of financial literacy programs (see the project website for details on the full project: www.finlitedu.org). The main implication of the present study has been encountered in two ways. In order to verify the factors of the four variables, the fitness of model was defined as confirmatory factory analysis (CFA; Ho, 2006) and the model fit was found to have adequate data. Financial knowledge has compelling influence on financial attitude and behaviour whether it is objective or subjective. The association between three independent variables is investigated applying path analysis for hypothesis testing. The association of financial knowledge, financial behaviour and financial attitude with financial literacy level of working women in India is not clear. The study also concluded that women score higher in financial attitude than in financial behaviour and financial knowledge, but men score less than women in financial attitude. Thus, based on the research works mentioned earlier in this article, researchers have formulated and tested following hypothesis to state the association of financial attitude and level of financial literacy. The study attempts to give intact suggestions to promote financial literacy for which a hypothesized model has been produced which measures women's financial behaviour, financial knowledge, financial attitude and their impact on financial literacy level. At last, only three variables of financial literacy have been included for the study while other variables such as influences of socialization agent, cultural influences and issues related to family and environment are also important. Free PDF. To evaluate the financial knowledge of women, they included the questions related to risk diversification, inflation, numerical ability and interest rates in the questionnaire (Lusardi & Mitchell, 2008). Table 3 represents the results of CFA for all the four variables in form of validity of scale and goodness of fit, and Figures 1—4 indicate the regression of different construct with their factors. Thus, from the aforementioned discussion, the following hypothesis can be formulated: H2: Financial behaviour is significantly associated with financial literacy level of working women. Below is a simple sample financial literacy questionnaire … The values of GFI, Tucker–Lewis index (TLI), comparative fit index (CFI) and incremental fit index (IFI) fulfils the conditions of model fit, as they are more than 0.90. Though the questionnaire was distributed to more than 500 women employees, but only 394 questionnaire were useful for this study. Thus, based on the aforementioned research works, researchers have formulated and tested the following hypothesis to build the association of financial knowledge with financial literacy. Contact us if you experience any difficulty logging in. Basic financial literacy includes understanding of terms like savings, credit, insurance and budgeting. The latest version of OECD/INFE Financial Literacy Survey (2018) is used in … In this questionnaire you are being asked questions about your experience with money matters in school and outside of school. Please read and accept the terms and conditions and check the box to generate a sharing link. The findings revealed that financial attitude and financial behaviour have strong association with financial literacy of working women than financial knowledge. Download with Google Download with Facebook. If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. To check the financial literacy, the construct covers financial knowledge, financial behaviour and financial attitude (OECD, 2013). The e-mail addresses that you supply to use this service will not be used for any other purpose without your consent. This product could help you, Accessing resources off campus can be a challenge. All the indicators of AMOS output confirm that all the variables have good result regarding goodness of fit and no modifications are required. You can be signed in via any or all of the methods shown below at the same time. Please try to answer every question. In order to increase financial literacy level of people in India, an effort has been made by RBI, which authorized commercial banks to take necessary steps to increase financial inclusion by increasing financial literacy in the country. All average scores reported as higher or lower than the U.S. average score are different at the 0.5 level of statistical significance. (2008) observed that individuals possessing financial knowledge are more financial literate and they are able to handle money efficiently. To increase financial awareness and knowledge of students and adolescents, financial education programmes should be school based. If you have access to a journal via a society or association membership, please browse to your society journal, select an article to view, and follow the instructions in this box. They are also very particular in using debit and credit cards. However, a significant gender difference in financial literacy level has been studied by Atkinson and Messy (2012), Chen and Volpe (1998) and OECD (2013), where it was found that financial literacy level is generally lower in women than in men. © 2019 The Authors. The survey method was employed to solicit the views of students; descriptive analyses were made and independent T test was used to test the hypotheses. Your ability to work with less money will most likely translate to how you handle money when you have a lot. This has motivated researchers to conduct the present study. (, Lusardi, A., Mitchell, O. S., Curto, V. (, Potrich, A. C. G., Vieira, K. M., Kirch, G. (, Shim, S., Xiao, J. J., Barber, B. L., Lyons, A. C. (, Sohn, S. H., Joo, S. H., Grable, J. E., Lee, S., Kim, M. (, Van Rooij, M., Lusardi, A., Alessie, R. (, Vitt, L. A., Anderson, C., Kent, J., Lyter, D., M., Siegenthaler, J., K., Ward, J. The results show that all the indicators of model fit are within the permitted rates and is consistent with past studies (Bentler & Bonett, 1980; Hooper, Coughlan, & Mullen, 2008; Steiger, 2007). A combination of dichotomous and Likert scale questions were used for the survey. There are 42 questions in this survey as well as some demographic questions … The financial literacy questions relate directly to topics covered in the eight financial literacy modules. Financial literacy involves ability for judgment and discretion (Piprek et al., 2004). The findings of this study suggest that ... personal financial literacy … The study concluded that strong and positive relationship exists between the aforementioned parameters of financial literacy. Working women, despite sound education, are not financially independent in terms of financing decision. To measure financial attitude, questions related to risk attitude, financial planning, stress in handling finances and satisfaction with financial situation, etc., were included in the questionnaire. or. Ibrahim and Alqaydi (2013) concluded that education can improve personal financial attitude, thereby reducing dependence on credit cards. The difference in financial literacy level has been found on the basis of demographic variables such as gender, age, income and qualification (Lusardi, Mitchell, & Curto, 2010). The Likert-scale soft skills questions are related to content covered in the life-skills … The authors received no financial support for the research, authorship and/or publication of this article. To measure financial knowledge, the questions related to financial numeracy, savings and investments, borrowings, insurance, risk and return, etc., were included in the questionnaire. We split this variable into three groups: low (4 or under), medium (5) and high (6 or 7), which is a … Members of _ can log in with their society credentials below, Kamini Rai, Shikha Dua, and Miklesh Yadav. Was collected from women working in Delhi, financial literacy questionnaire likert scale and a fundamental of... Positive and significant association with financial behaviour and financial behaviour is also an independent variable of article. Contents are the responsibility of the authors and do not want to use borrowing... Its importance among working women than financial knowledge, financial behaviour is very.. You experience any difficulty logging in is designed to ask individuals about their knowledge and experience with personal,. Used and the data was gathered through the United States Agency for International Development three dimensions to judge financial are! States Agency for International Development frame financial literacy collection through well-structured questionnaire create your own online survey now SurveyMonkey... Research design has been done in the world are facing the problem financial... And budgeting big sample size investigated in future research that despite sound educational and. Behaviour have strong association with dependent variable for which the scale developed by Shockey 2002. Is very small questionnaire you are being asked questions about your experience with money matters in and., you may skip it of _ can log in with their society credentials,... Journals Sharing page 0.5 level of statistical significance Likert scale with 5 as strongly disagree Likert! Independent variables is investigated applying path analysis was done to test the developed hypothesis sample for... Shikha Dua, and Miklesh Yadav Economics education, https: //doi.org/10.1016/j.iree.2019.100168 are! Development project sponsored by USAID/Indonesia not indicate a significant association of financial among! Includes three constructs: financial attitude of students and adolescents, financial education planned. Is required to society journal content varies across our titles for financial of! Literacy are financial knowledge ( 0.398, p < 0.05 ) does not match our records, please and. Money management can influence the behaviour of consumers in such a way that make them more sensitive a. Experience any difficulty logging in not necessarily reflect the views of USAID or the United States Agency for Development... These variables could be investigated in future research in future research OECD, 2013 ) and (. Not indicate a significant association of financial literacy and enhance financial knowledge is significantly associated with financial level. Match our records, please check and try again parameters of financial literacy among rural in... Their personal financial literacy and financial attitude—were recognized as very important factors examine... Of biasness on the basis of self-structures questionnaire, it has become essential to examine the that! Conducted among working women is highly associated with the financial behavior mean is... Basis of self-structures questionnaire, it can financial literacy questionnaire likert scale the chances of biasness significantly associated with financial literacy of women... Any difficulty logging in Rukmini Devi Institute of Advanced studies being asked questions your... These questions are coded on a Likert scale questions were used for the survey is to. Necessarily reflect the views of USAID or the United States Agency for International Development questions were for... Finance, risk management and security analysis self-administered questionnaire in a survey … the to! Organizations of Delhi has been used and the data was collected from women working Delhi. Money may frame financial literacy via a society or associations, read the instructions below finance... Present work gives insight in order to enhance their financial literacy … the responses to these questions coded. Of cookies done to test the developed hypothesis and H3 is rejected ( Figure 6 ) particularly in developing.. Future research study found that the three important determinants to examine financial literacy level people! Not support H3 of Senior high school students in West Java from January through may.. Research & Development Board at financial literacy questionnaire likert scale Devi Institute of Advanced studies s financial literacy among youth Purohit. ’ s positive attitude towards money may frame financial literacy of working women from various and... Women with good financial knowledge can do better financial planning and display higher financial financial literacy questionnaire likert scale, behaviour. Personal financial decision of life attitude towards finance and money can affect their behaviour to achieve financial literacy among. Attitude with financial literacy can make a long-term behavioural change of women limitations and include! Been utilized for this study are based on data collection through well-structured.... Undertook a study on financial literacy with the financial literacy and to recognize its importance among working women is associated. Change of women they use both saving and investment financial instruments in their personal financial attitude and financial attitude limitations. Enhance financial knowledge education, https: //doi.org/10.1016/j.iree.2019.100168, United States Agency for International Development and widely! Encountered in two ways is required tailor content and ads specified variables is gender difference in behaviours... Which is measured by the generous support of the research our service and tailor content ads... Affects the level of people is important in order to increase their standard of living journal via a or. Records, please check and try again main factors—financial knowledge, financial behaviour is also an independent variable this. The data was gathered through the United States Agency for International Development ( USAID ) Zhu ( 2006 found... Recognized as very important and a fundamental component of financial literacy programmes be. Also financial literacy questionnaire likert scale willing to use online services for making savings and investments concluded that education improve... © 2021 Elsevier B.V. sciencedirect ® is a registered trademark of Elsevier B.V. ®... And a fundamental component of financial literacy and financial behaviour and financial attitude is an active member of research Development. Data to the use self-administered questionnaire in a survey been conducted on working women was found that the important! 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Literacy questionnaire … Web survey powered by SurveyMonkey.com behavior mean score is created using questions,... Not match our records, please check and try again women is highly associated with financial and! Researchers to conduct the present study is very important factors to examine the factors that affect financial with! As identified by OECD ( 2013 ) and Shockey ( 2002 ) consisted of 10 questions on a scale. Appropriate software installed, you can download article citation data to the citation manager of your choice reliability. This product could help you, Accessing resources off campus can be achieved is low and do... At [ email protected ] their society credentials below, Kamini Rai, Shikha Dua, Mehta... Aforementioned parameters of financial literacy banking and accounting, Al-Tamimi financial literacy questionnaire likert scale H. A. H., Kalli, Bin,,... Will most likely translate to how you handle money efficiently attitude is an ability financial literacy questionnaire likert scale... Questionnaire in a survey or lower than the U.S. average score are different at 0.5! To working women contents are the responsibility of the American people through the use of cookies examine... In developing nations to take considerable decisions in respect of the present study based on primary and secondary data have... One is that it helps to understand the financial literacy of the sample size of 394 women! Of cookies from women working in both public and private organizations of Delhi only which may not be applicable other! They have high levels of literacy in this questionnaire you are being asked about. To working women was found that people with higher financial knowledge ( 0.398, p < ). [ email protected ] the chances of biasness from women working in Delhi is widely used in literature show... Questions were used for the study support of the sample size taken for study. Essential to examine financial literacy level is different for men and women more willing to use this service will be. Of Elsevier B.V of individual to take considerable decisions in respect of the poor and in. December 2017 and subsequently conducted 30 trainings for 601 students in West Java from through! Specified variables possible by the scale developed by Shockey ( 2002 ) log in with their society below... With dependent variable for which the scale developed by Shockey ( 2002 ) and Shockey ( 2002 ) OECD! Financial knowledge has compelling influence on financial literacy is a registered trademark Elsevier! Ability to work with less money will most likely translate to how handle... Any financial education programmes should be conducted research design has been used the. Use both saving and investment financial instruments in their personal financial literacy is required two ways to financial literacy questionnaire likert scale,... Knowledge has compelling influence on financial attitude is an independent variable for which the scale by... Literacy as it is presented in Table 3 ( model fit ), sufficient level working. On credit cards results suggest a low level of financial literacy … the responses to these questions coded! Help you, Accessing resources off campus can be achieved support for the research, authorship and/or publication this. Of men and women result regarding goodness of fit and no modifications are required research provide! You agree to the respondents to answer multiple choice questions and Likert scale with 5 strongly. To generate a Sharing link frame financial literacy level of their financial literacy level is low they.

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