Financial Literacy Case Study

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Do Malaysian youths have adequate financial literacy?
1.0 Factors associated with financial literacy.
1.1 Lifestyle
Many college students have credit cards. In fact, according to a Sallie Mae National Study of Usage and Trends, 84% of undergraduates have at least one credit card. Youth nowadays are influenced to have a luxury lifestyle and they are spending without limitation. Lifestyle is a distinctive way of life of an individual, group or culture. It is driven by the feeling of needs and wants for something. The youth put entertainment, leisure, food and clothing as their top priorities in spending. They are willing to spend on everything as they can fulfill their lifestyle.
This kind of lifestyle has influenced the youth to have bad spending
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The form of Financial Education is include the financial knowledge and understanding of essential skills to make the financial decision regarding on their spending and saving of management of money (OECD , 2008). The BNM approach involves in three components include the collaboration with the Ministry of Education and Financial Institutions to promoting financial education, developing and disseminating educational materials on financial products and the program of the financial education for the target of group (Liaw,…show more content…
Bank Negara Malaysia collaboration with the Ministry of Education and financial institution on the financial Education Programmed in schools. In 1997, Malaysia started the campaign of savings that bring the students in Malaysia as a foundation for financial education programs (Liaw ,2008). The program is executed to impress form awareness and impart about the saving habit on the sharp of financial management decision that important.

To improve the financial literacy among students the particular initiatives included the Programmed School Adoption, workshops and lesson plan for teachers and students financial club (Liaw, 2008) .Financial education provide the modules for the secondary school students regarding to the co-curriculum activities succeed as the framework to achieve the goal on financial goals and spending, including the financial management of financial decision ,investment and saving as well and effect on economic factors such as
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