IDEAS home Printed from https://ideas.repec.org/p/gtr/gatrjs/jfbr195.html
   My bibliography  Save this paper

Students' Financial Literacy: Digital Financial Literacy Perspective

Author

Listed:
  • Nurhazrina Mat Rahim

    (Faculty of Accountancy, Universiti Teknologi MARA, Cawangan Selangor, Kampus Puncak Alam, 42300 Bandar Puncak Alam, Selangor, Malaysia Author-2-Name: Norli Ali Author-2-Workplace-Name: Faculty of Accountancy, Universiti Teknologi MARA, Cawangan Selangor, Kampus Puncak Alam, 42300 Bandar Puncak Alam, Selangor, Malaysia Author-3-Name: Mohd Fairuz Adnan Author-3-Workplace-Name: Faculty of Accountancy, Universiti Teknologi MARA, Cawangan Selangor, Kampus Puncak Alam, 42300 Bandar Puncak Alam, Selangor, Malaysia Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)

Abstract

" Objective - This study aims to assess students' financial literacy levels using digital financial literacy (DFL), the most recent element. Methodology – Students who are based in Selangor, Malaysia, were chosen for this study as they recorded a high rate of youth bankruptcy. Convenience sampling was used to distribute the questionnaires among the students between March and August of 2021, where a total of 184 responses were retrieved. Findings and Novelty – The results indicated that students possessed advanced financial knowledge and confidence. Despite the extensive experience in completing online financial transactions, the students lack digital financial knowledge and an understanding of the risks associated with digital financial services. Therefore, including DFL in financial education is essential to ensuring future generations' financial well-being. This study also adds to the limited literature on financial digital literacy and serves as an eye-opener to policymakers on its importance in financial education. Type of Paper - Empirical"

Suggested Citation

  • Nurhazrina Mat Rahim, 2022. "Students' Financial Literacy: Digital Financial Literacy Perspective," GATR Journals jfbr195, Global Academy of Training and Research (GATR) Enterprise.
    • Handle: RePEc:gtr:gatrjs:jfbr195
    DOI: https://doi.org/10.35609/jfbr.2022.6.4(2)
    as

    Download full text from publisher

    File URL: http://gatrenterprise.com/GATRJournals/JFBR/pdf_files/JFBR-Vol-6(4)/2.Nurhazrina%20Mat%20Rahim.pdf
    Download Restriction: http://gatrenterprise.com/GATRJournals/online_submission.html
    File URL: https://libkey.io/https://doi.org/10.35609/jfbr.2022.6.4(2)?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.

    References listed on IDEAS

    as
    1. Nikolaos D. Philippas & Christos Avdoulas, 2020. "Financial literacy and financial well-being among generation-Z university students: Evidence from Greece," The European Journal of Finance, Taylor & Francis Journals, vol. 26(4-5), pages 360-381, March.
    2. Snehal Bawre & Sujata Kar, 2019. "An investigation of the demographic factors affecting financial literacy and its components among urban Indians," International Journal of Education Economics and Development, Inderscience Enterprises Ltd, vol. 10(4), pages 398-426.
    3. Siew-Yong Yew & Chen-Chen Yong & Kee-Cheok Cheong & Nai-Peng Tey, 2017. "Does Financial Education Matter? Education Literacy among Undergraduates in Malaysia," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 9(1), pages 43-60, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. 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.
    2. Bomi Nomlala, 2021. "Financial Socialisation of Accounting Students in South Africa," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 10(2), pages 01-15, April.
    3. Gagandeep Kaur & Manjit Singh & Sanjay Gupta, 2023. "Analysis of key factors influencing individual financial well-being using ISM and MICMAC approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(2), pages 1533-1559, April.
    4. Mohsin, Muhammad & Ullah, Hafeez & Iqbal, Nadeem & Iqbal, Wasim & Taghizadeh-Hesary, Farhad, 2021. "How external debt led to economic growth in South Asia: A policy perspective analysis from quantile regression," Economic Analysis and Policy, Elsevier, vol. 72(C), pages 423-437.
    5. Silvia Mariela Méndez-Prado & Vanessa Rodriguez & Kevin Peralta-Rizzo & Patricia Everaert & Martin Valcke, 2023. "An Assessment Tool to Identify the Financial Literacy Level of Financial Education Programs Participants’ Executed by Ecuadorian Financial Institutions," Sustainability, MDPI, vol. 15(2), pages 1-24, January.
    6. Ifra Bashir & Ishtiaq Hussain Qureshi, 2023. "A Systematic Literature Review on Personal Financial Well-Being: The Link to Key Sustainable Development Goals 2030," FIIB Business Review, , vol. 12(1), pages 31-48, March.
    7. Süleyman Uyar & Işıl Atalay, 2021. "Financial Literacy and The Effect of Courses on University on Financial Literacy," Muhasebe Enstitusu Dergisi - Journal of Accounting Institute, Istanbul University Business School, vol. 64(64), pages 1-17, January.
    8. Zack Jourdan & J. Ken. Corley & Randall Valentine & Arthur M. Tran, 2023. "Fintech: A content analysis of the finance and information systems literature," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-21, December.
    9. Sara Fernández-López & Marcos à lvarez-Espiño & Lucía Rey-Ares, 2023. "A Comprehensive Approach to Measuring Financial Vulnerability and Literacy: Unveiling Connections," SAGE Open, , vol. 13(4), pages 21582440231, November.
    10. Mohamed Ali Shabeeb Ali & Mohammed Abdullah Ammer & Ibrahim A. Elshaer, 2022. "Determinants of Investment Awareness: A Moderating Structural Equation Modeling-Based Model in the Saudi Arabian Context," Mathematics, MDPI, vol. 10(20), pages 1-18, October.
    11. Nkosinathi Prince Jali & Celani John Nyide & Lesley June Stainbank, 2023. "The Interplay Between Financial Literacy, Financial Technology and Financial Behaviour of High School Teachers in an Emerging Economy," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 12, July.
    12. Ali, Muhammad Arsalan & Rehman, Khalil ur & Maqbool, Adnan & Hussain, Shahid, 2021. "The Impact of Behavioral Finance Factors and the Mediating Effect of Investment Behavior on Individual’s Financial Well-being: Empirical Evidence from Pakistan," Journal of Accounting and Finance in Emerging Economies, CSRC Publishing, Center for Sustainability Research and Consultancy Pakistan, vol. 7(2), pages 325-336, June.
    13. Zaheer Ahmed & Umara Noreen & Suresh A.L. Ramakrishnan & Dewi Fariha Binti Abdullah, 2021. "What explains the investment decision-making behaviour? The role of financial literacy and financial risk tolerance," Afro-Asian Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 11(1), pages 1-19.
    14. Ali Saleh Alshebami & Theyazn H. H. Aldhyani, 2022. "The Interplay of Social Influence, Financial Literacy, and Saving Behaviour among Saudi Youth and the Moderating Effect of Self-Control," Sustainability, MDPI, vol. 14(14), pages 1-18, July.
    15. Zericho R. Marak & Vaishali Pagaria, 2023. "Antecedents and consequences of financial well-being: evidence from working professionals in India," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 70(3), pages 341-378, September.
    16. Nurhazrina Mat Rahim, 2022. "Determinants of Malaysian Financial Literacy: A Financial Socialization Perspective ," GATR Journals afr212, Global Academy of Training and Research (GATR) Enterprise.
    17. Michail Chouzouris & Panos Xenos & Platon Tinios, 2022. "Becoming ‘Homo Economicus’ as Learned Behavior among Numerate Greek University Students," Social Sciences, MDPI, vol. 11(5), pages 1-18, April.
    18. Rajesh Mishra, 2023. "Financial Literacy and Financial Wellbeing among Indian Households," International Journal of Business and Management, Canadian Center of Science and Education, vol. 17(4), pages 1-98, February.
    19. Mahendru, Mandeep & Sharma, Gagan Deep & Pereira, Vijay & Gupta, Mansi & Mundi, Hardeep Singh, 2022. "Is it all about money honey? Analyzing and mapping financial well-being research and identifying future research agenda," Journal of Business Research, Elsevier, vol. 150(C), pages 417-436.

    More about this item

    Keywords

    Financial literacy; financial confidence; Digital financial literacy; Digital financial knowledge; Students;
    All these keywords.

    JEL classification:

    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • M29 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Other
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    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:gtr:gatrjs:jfbr195. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Prof. Dr. Abd Rahim Mohamad (email available below). General contact details of provider: http://gatrenterprise.com .

    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.