IDEAS home Printed from https://ideas.repec.org/a/eme/ijsepp/ijse-11-2016-0303.html
   My bibliography  Save this article

Financial literacy among youth

Author

Listed:
  • Neha Garg
  • Shveta Singh

Abstract

Purpose - The purpose of this paper is to analyse the level of financial literacy among youth in the world based on previous studies. The study, particularly, focus at how socio-economic and demographic factors such as age, gender, marital status and income influence financial literacy level of youth and whether there is any interrelationship between financial knowledge, financial attitude and financial behaviour. Strong endeavour of the world economies to improve the financial well-being of their citizens has contributed to the rising importance of financial literacy as it equips the individuals to take quality financial decisions to enhance their financial well-being. Design/methodology/approach - This literature review consists of seven key sections. The first section of this paper reviews the conceptual definitions of youth. Second part summarises the literature on financial literacy. Third, fourth and fifth section summarises the literature on the components of financial literacy, i.e. financial knowledge, financial attitude and financial behaviour, respectively. Sixth section reviews the empirical studies on the influence of socio-economic and demographic factors on financial literacy level. Seventh section summarises the literature on interrelationship between financial knowledge, financial attitude and financial behaviour. Findings - The study reveals that the financial literacy level among youth is low across the most part of the world that has become a cause of concern. Also, it has been observed that various socio-economic and demographic factors such as age, gender, income, marital status and educational attainment influence the financial literacy level of youth and there exists an interrelationship between financial knowledge, financial attitude and financial behaviour. Originality/value - Youth have to live a longer life ahead, thus, the decisions taken by them are going to affect them for a longer period of time, making it imperative for them to develop an understanding of the world of finance so as to avoid wrong choice of financial products. Thus, financial literacy is of significant relevance. This paper aims to understand the influence of various factors influencing the financial literacy as understanding the factors that contribute to or detract from the acquisition of financial literacy among youth can help in making policy interventions targeted at youth to enhance their financial well-being.

Suggested Citation

  • Neha Garg & Shveta Singh, 2018. "Financial literacy among youth," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 45(1), pages 173-186, January.
    • Handle: RePEc:eme:ijsepp:ijse-11-2016-0303
    DOI: 10.1108/IJSE-11-2016-0303
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/IJSE-11-2016-0303/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/IJSE-11-2016-0303/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/IJSE-11-2016-0303?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kwee Kim Peong, 2019. "Determinants of Personal Financial Literacy among Young Adults in Malaysian Accounting Firms," GATR Journals gjbssr524, Global Academy of Training and Research (GATR) Enterprise.
    2. TAVARES Fernando Oliveira & ALMEIDA Luís Gomes & SOARES Vasco Jorge & TAVARES Vasco Capela, 2022. "Financial literacy: an exploratory analysis in Portugal," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 17(2), pages 252-269, August.
    3. Claude Bernard Lontchi & Baochen Yang & Yunpeng Su, 2022. "The Mediating Effect of Financial Literacy and the Moderating Role of Social Capital in the Relationship between Financial Inclusion and Sustainable Development in Cameroon," Sustainability, MDPI, vol. 14(22), pages 1-24, November.
    4. Marvello Yang & Abdullah Al Mamun & Muhammad Mohiuddin & Sayed Samer Ali Al-Shami & Noor Raihani Zainol, 2021. "Predicting Stock Market Investment Intention and Behavior among Malaysian Working Adults Using Partial Least Squares Structural Equation Modeling," Mathematics, MDPI, vol. 9(8), pages 1-16, April.
    5. Long She & Ratneswary Rasiah & Marc Arul Weissmann & Harpaljit Kaur, 2024. "Using the Theory of Planned Behaviour to Explore Predictors of Financial Behaviour Among Working Adults in Malaysia," FIIB Business Review, , vol. 13(1), pages 118-135, January.
    6. Pallavi Dogra & Arun Kaushal & Rishi Raj Sharma, 2023. "Antecedents of the Youngster’s Awareness About Financial Literacy: A Structure Equation Modelling Approach," Vision, , vol. 27(1), pages 48-62, February.
    7. Adam Ndou, 2023. "Parental Financial Socialisation and Financial Knowledge: A Structural Equation Modelling Analysis," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 16(1), pages 27-39, October.
    8. Mohamad Fazli Sabri & Mas Ayu Said & Amirah Shazana Magli & Tan Maw Pin & Hussein Rizal & Nithiah Thangiah & Muslimah Ithnin & Hazreen Abdul Majid & Rozmi Ismail & Tin Tin Su & Abdul Rahim Husniyah, 2022. "Exploring the Relationships of Financial Literacy and Financial Behaviour with Health-Related Quality of Life (HRQOL) among the Low-Income Working Population in Malaysia during the COVID-19 Pandemic," IJERPH, MDPI, vol. 19(19), pages 1-15, September.
    9. Naseem Al Rahahleh, 2023. "Determinants of the Financial Capability: The Mediating role of Financial Self-efficacy and Financial Inclusion," International Journal of Economics and Financial Issues, Econjournals, vol. 13(6), pages 15-29, November.
    10. Rani Mamta & Siwach Manoj, 2023. "Financial Literacy in India: A Review of Literature," Economic and Regional Studies / Studia Ekonomiczne i Regionalne, Sciendo, vol. 16(3), pages 446-458, September.
    11. Nur Alya Afiqah Binti Mahat & Wei-Theng Lau, 2023. "Financial Literacy, Experience, Risk Tolerance and Investment Behavior: Observations during Pandemic," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(10), pages 558-573, October.
    12. Putra Hilmi Prayitno & Sheerad Sahid & Muhammad Hussin, 2022. "Social Capital and Household Economic Welfare: Do Entrepreneurship, Financial and Digital Literacy Matter?," Sustainability, MDPI, vol. 14(24), pages 1-16, December.
    13. Kumar Saurabh & Tanuj Nandan, 2019. "Role of financial knowledge, financial socialisation and financial risk attitude in financial satisfaction of Indian individuals," International Journal of Indian Culture and Business Management, Inderscience Enterprises Ltd, vol. 18(1), pages 104-122.
    14. Rani, Mamta & Siwach, Manoj, 2023. "Financial Literacy In India: A Review Of Literature," Economic and Regional Studies (Studia Ekonomiczne i Regionalne), John Paul II University of Applied Sciences in Biala Podlaska, vol. 11(2), September.
    15. Azra Zaimovic & Anes Torlakovic & Almira Arnaut-Berilo & Tarik Zaimovic & Lejla Dedovic & Minela Nuhic Meskovic, 2023. "Mapping Financial Literacy: A Systematic Literature Review of Determinants and Recent Trends," Sustainability, MDPI, vol. 15(12), pages 1-30, June.
    16. Md. Faruk Abdullah & Muhammad Nazmul Hoque & Md. Habibur Rahman & Jamaliah Said, 2022. "Can Islamic Financial Literacy Minimize Bankruptcy Among the Muslims? An Exploratory Study in Malaysia," SAGE Open, , vol. 12(4), pages 21582440221, November.
    17. Tracey West & Michelle Cull, 2020. "Future Expectations and Financial Satisfaction," Economic Papers, The Economic Society of Australia, vol. 39(4), pages 318-335, December.
    18. Jason Kasozi & Daniel Makina, 2021. "Analysis of financial literacy and its effects on financial inclusion in Uganda," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 10(3), pages 67-83, July.
    19. Oge Augustine Sunday, 2024. "The Effects of Financial Literacy Programs on Retirement Planning and Preparedness among Middle-Aged Adults in Oyo State," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(1), pages 1058-1071, January.
    20. Jasmina Okicic & Meldina Kokorovic Jukan & Mensur Heric, 2021. "Some Insights Into Financial Literacy Among Undergraduate Students: A Case of Bosnia and Herzegovina," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 12(3), pages 103-115, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:ijsepp:ijse-11-2016-0303. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.