Literature: Literature Review Of Financial Literacy

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CHAPTER 2: LITERATURE REVIEW 2.1 Introduction This topic is regarding on the literature review about financial literacy. The first section will be discussing on the overview of financial literacy. Then, discussion on the impact of gender, education background, parent education background and institution toward financial literacy is presented. The next section discusses the framework related to the study and the hypothesis statement. Lastly will be the conclusion. 2.2 Financial Literacy Financial literacy is characterized as a "significance influencing process" in which people to utilize a mix of abilities, assets, and relevant learning to process data and settle on choices with information of the budgetary outcomes of that choice (Mason and Wilson, 2000). According to (Hogarth, 2002, pp. 15-16) depicted the textures in behavioural terms, expressing that people who are financially educated are: 1) proficient, taught, and educated on the issues of overseeing cash and resources, saving money, speculations, credit, protection, and expenses; 2) comprehend the essential ideas fundamental the administration of cash and resources; and 3) utilize that learning and comprehension to plan and execute money related choices. (Chen and Volpe, 1998) evaluated the money related proficiency of 924 undergrads who scored 53% all things considered; non-business majors, ladies, understudies in the lower scholarly years, those under age 30, and those with little work encounter had the most
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