Financial Literacy Literature Review

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Literature Review There are different definitions of financial literacy but there is no such definition that satisfies all types of consumer. According to Noctor, Stoney, & Stradling (1992) financial literacy can be said as the ability of people and investors to know how to manage effectively their hard earned money for future gain. Similarly OECD INFE, (2011) defined it as a combination of awareness, knowledge, skill, attitude and behavior necessary to make sound financial decisions and ultimately achieve individual financial wellbeing. However, The United States Financial Literacy and Education Commission (2007) describe financial literacy as “the ability to use knowledge and skills to manage financial resources effectively for a lifetime…show more content…
(2016). ASSESSMENT OF FINANCIAL LITERACY AMONG. ResearchGate , 219-237. Bahadur, L. R. (2015). Financial Literacy: The Indian Story. World Journal of Social Sciences , 45-57. Huston, S. J. (2010). Measuring Financial Literacy. Journal of Consumer Affairs , 296-316. Jorgensen, B. L. (2007). Financial Literacy of College Students: Parental and Peer Influences. Master Thesis Submitted to Virginia Polytechnic Institute and State University in Master of Science in Human Development.Blacksburg, Virginia , 1-89. Kuensel. (2016, 03 12). Disciplining ourselves financially. Kuensel News Paper . Noctor, M., Stoney, S., & Stradling, R. (1992). Financial literacy: A discussion of concepts and competences of financial literacy and opportunities for its introduction into young people’s learning, London:. National Foundation . OECD-INEF. (2011). Measuring Financial Literacy: Core Questionnaire in Measuring Financial Literacy: Questionnaire and Guidance Notes for conducting an Internationally Comparable Survey of Financial literacy. Paris: OECD . Thapa, B. S., & Nepal, S. R. (2015). Financial Literacy in Nepal: A Survey. NRB ECONOMIC REVIEW , 50-74. The United States Agency for International Development. (2007). Development of Strategy Options for SME Financial
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