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Students' Financial Literacy: Digital Financial Literacy Perspective

Author

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  • 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)
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    References listed on IDEAS

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    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.
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    Cited by:

    1. Kelmara Mendes Vieira & Taiane Keila Matheis & Eliete dos Reis Lehnhart, 2024. "Digital Financial Capability Scale," JRFM, MDPI, vol. 17(9), pages 1-18, September.

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    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

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