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Financial literacy determinants among West Java athletes

Author

Listed:
  • Sylviana Maya Damayanti
  • Getha Saraya

Abstract

The anecdotal evidence suggests that in Indonesia professional athletes struggle to make ends meet after retiring from their profession. This is because they are unable to manage their investments and their savings wisely. This study measures the financial literacy index among Indonesian athletes by using West Java as a sample. A total of 183 questionnaires were distributed to athletes in West Java, in which the questions centred upon concepts in financial literacy. By using one-way ANOVA as well as Tukey-Kramer's analysis, the study showed the link between financial literacy and demographic profile. The result of financial literacy index among West Java athletes is 51 indicating that the index is low. The index result is based on the calculation of two variables of individual's literacy, which are basic financial literacy and advanced financial literacy. The statistical analysis indicates that six of seven demographic profile variables (type of sports, age, last educational background, monthly income, monthly expense, and yearly income from tournaments) have significantly different of financial literacy index. The analysis shows that gender is the only one demographic profile that does not have significant different level of financial literacy index.

Suggested Citation

  • Sylviana Maya Damayanti & Getha Saraya, 2018. "Financial literacy determinants among West Java athletes," International Journal of Education Economics and Development, Inderscience Enterprises Ltd, vol. 9(4), pages 324-345.
    • Handle: RePEc:ids:ijeded:v:9:y:2018:i:4:p:324-345
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