scholarly journals A MODEL FOR PERSONAL FINANCIAL PLANNING TOWARDS RETIREMENT

2020 ◽  
Vol 0 (0) ◽  
pp. 1-21
Author(s):  
Teresa C. Herrador-Alcaide ◽  
Montserrat Hernández-Solís ◽  
Gabriela Topa
Keyword(s):  
Financial Literacy ◽  
Financial Planning ◽  
Financial Management ◽  
Structural Equation ◽  
Financial Risk ◽  
Management Practices ◽  
Equation Model ◽  
Financial Resources ◽  
Explanatory Variables ◽  
Personal Financial Planning

One problem for sustainability of systems pensions is how people without specialized financial training could manage their resources and their actual personal intentions towards retirement. Research objective is to analyse the relationship among several factors that affect the behaviour towards retirement, the financial management practices and the financial resources, by carrying out a structural equation model (SEM) that was tested in Spanish workers sample in three phases. The influence of financial literacy, financial retirement objectives, optimism on retirement, tolerance to financial risk, and the commitment to financial planning at time 1, are analysed as explanatory variables of financial management practices at time 2. Financial resources for retirement at time 3 are explained by financial management practices. According to results, the model can predict the 36% of the variance of financial management practices and 53% of the variance of financial resources for retirement. Thus, the model can be used for checking of knowledge of the personal financial behaviour before retirement, what enables a better personal financial planning. It would be possible to apply a model based on self-assessment in order to implement a complementary financial planning that would allow to maintain the welfare during retirement.

scholarly journals PERMODELAN POLA PERENCANAAN KEUANGAN BERDASARKAN STATUS PERNIKAHAN

2021 ◽  
Vol 15 (4) ◽  
pp. 773-784
Author(s):  
Lukmanul Hakim ◽  
Sri Andriani ◽  
Nenny Noor Umami
Keyword(s):  
Structural Equation Modeling ◽  
Marital Status ◽  
Financial Literacy ◽  
Financial Planning ◽  
Financial Management ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Financial Behavior ◽  
Equation Modeling

A Marital status at community can make an impact on financial management. The purpose of this study was to analyze financial planning based on marital status with the variables of financial attitude, financial behavior, and financial literacy towards people who live in Sumbawa. The data were analyzed using Structural Equation Modeling Partial Least Square (SEM-PLS) through smartPLS version 3.0 software. The results of the analysis in this study indicate that (1) financial attitude has a significant effect on financial behavior both based on married and unmarried status, (2) financial attitude has a significant effect on financial literacy both based on married and unmarried status, (3) financial attitude has an effect significant on financial planning based on both married and unmarried status, (4) financial behavior has no significant effect on financial literacy both based on married and unmarried status, (5) financial behavior has no significant effect on financial planning both based on married and unmarried status, (6) financial literacy has no significant effect on financial planning based on both married and unmarried status, and (7) There is no difference in financial planning based on marital status

scholarly journals Financial literacy among working women: A Study on university staff in Kedah

2020 ◽  
Vol 8 (2) ◽  
pp. 100-108
Author(s):  
Nur Najihah Ashaari ◽  
Zahayu Md Yusof ◽  
Masnita Misiran ◽  
Hasimah Sapiri
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Structural Equation ◽  
Financial Risk ◽  
Working Women ◽  
Financial Education ◽  
Financial Behavior ◽  
Equation Modeling ◽  
Employment Sector ◽  
Five Factors

The involvement of women in the employment sector has helped boost the Malaysian economy. Therefore, it is imperative for our economy to consider the fact that where and how women work to spend or invest their funds. In this case, for the proper use of funds, working women need to be financially literate. This study to determine the relationship between the factors towards financial literacy among working women and to investigate the risk of financial literacy among working women. Sample data were gathered using self-administered questionnaire among working women in government university in Kedah and later analyzed using statistical software namely, Statistical Package for Social Science (SPSS) version 25.0 and Analysis of Moment Structure (AMOS) version 25.0. Confirmatory Factor Analysis (CFA) together with Structural Equation Modeling (SEM) approach was used both to access the model fit and identify the significant direct influence financial literacy among working women. As a result, five factors that influence financial management have been highlighted which are financial attitude, financial knowledge, financial education, financial behavior and financial literacy. The result indicates that only financial attitudes significant towards financial literacy among working women as supported by the previous study. However, other factors are also important in assessing the level of financial literacy of an individual because each of these factors plays a role in ensuring an individual's financial management and avoid yourself from financial risk.

scholarly journals Analisis Faktor-Faktor yang Memengaruhi Financial Satisfaction Pengguna E-Wallet

2021 ◽  
Vol 9 (2) ◽  
pp. 426
Author(s):  
May Amelia ◽  
Yuyun Isbanah
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Structural Equation ◽  
Quantitative Research ◽  
Equation Model ◽  
Financial Strain ◽  
Financial Satisfaction ◽  
Snowball Sampling ◽  
Management Behaviour ◽  
Data Collection Instrument

The research aims to determine the effect of financial literacy, financial strain, financial management behaviour, and income on financial satisfaction in the e-wallet user in Surabaya. The research is a type of conclusive causality research with quantitative research data using purposive sampling and snowball sampling techniques. The data collection instrument used in this research was the distribution of online questionnaires. The samples used in this research were 207 respondents from e-wallet user in Surabaya. The data analysis use Structural Equation Model (SEM) technique with AMOS tools. This research shows that only financial management behaviour influences financial satisfaction because of their good financial management awareness. Financial literacy has no financial satisfaction because the information is easy to get, but what is received is not necessarily correct. Financial strain has no influences on financial satisfaction because respondent did not experience financial strain, so most of them are college students and students. Income also has no influences on financial satisfaction because the income received still depends on each parent.

scholarly journals Manajemen Keuangan Pendidikan Anak Usia Dini Perspektif Wealth Management: Studi di TK Ceria Demangan Baru Yogyakarta

2020 ◽  
Vol 4 (2) ◽  
pp. 353-371
Author(s):  
Raudhah Farah Dilla
Keyword(s):  
Early Childhood ◽  
Financial Planning ◽  
Financial Management ◽  
Management Practices ◽  
Education Institution ◽  
Financial Resources ◽  
Childhood Education ◽  
Wealth Management ◽  
Effectiveness And Efficiency ◽  
Financial Income

Financial management constitutes a crucial element in the performance of the entire programs and activities within an institution. This research was conducted to study financial management practices in Early Childhood Education institution namely TK Ceria Demanagn Baru Yogyakarta through the perspective of wealth management. This research is a descriptive qualitative in which data were collected through interviews and documentations. The results showed that, 1) TK Ceria Demangan Baru managed its financial resources by setting aside students’ contributions for savings funds. This will be used for purposes outside of planned financial arrangement, 2) analysed through  the perspective of wealth management, the institution’s financial Management is situated in "Sd" (Student Donation) or equivalent to "E" (employees) within the Cashflow Quadrant. The actual financial management is carried out by first, conducting annual financial planning done at the beginning of each year, implementing the financial planning in all the institution’s programs and activities, recording the implementation, reporting the implementation to the foundation board, and evaluating the implementation. In addition, the implementation of the  financial management is carried out by considering the principles of transparency, public accountability, effectiveness and efficiency. Meanwhile, institutional fund obtained merely from students’ contribution reduces the quantity of institutional financial income.

scholarly journals The Impacts of Future Orientation and Financial Literacy on Personal Financial Management Practices among Generation Y in Malaysia: The Moderating Role of Gender

2019 ◽  
pp. 1-10
Author(s):  
Rudy Ansar ◽  
Mohd Rahimie Abd Karim ◽  
Zaiton Osman ◽  
Muhamad Shameer Fahmi
Keyword(s):  
Generation Y ◽  
Financial Literacy ◽  
Financial Management ◽  
Structural Equation ◽  
Management Practices ◽  
Future Orientation ◽  
The Body ◽  
Policy Makers ◽  
Body Of Knowledge ◽  
Moderating Role

This paper investigated the relationship between future orientation and financial literacy toward personal financial management practices among Generation Y in Malaysia, particularly amongst those who were born between 1981 and 2001 coming from Sabah, Sarawak, Selangor, Kuala Lumpur, Johor, and Penang. A total of 146 valid questionnaires were used for the analysis carried out in this paper. Data was analyzed using the Structural Equation Modelling (SEM) technique using Partial Least Squares (PLS). The outcomes displayed that future orientation and financial literacy have significantly positive effect on personal financial management practices. Nonetheless, gender does not have a moderating role between financial literacy and future orientation on personal financial management practices among Generation Y in Malaysia. The study’s outputs may serve as guidelines by the Malaysian government agencies and policy makers, apart from extending the body of knowledge to shed some light on personal financial management practices. The findings of the study also offer an alternative approach in addressing the escalating bankruptcy issues faced by Generation Y in Malaysia.

scholarly journals Pengaruh Financial Literacy, Income, Hedonism Lifestyle, Self-Control, dan Risk Tolerance terhadap Financial Management Behavior pada Generasi Milenial Kota Surabaya

2021 ◽  
Vol 9 (3) ◽  
pp. 1002-1014
Author(s):  
Alfrin Erman Sampoerno ◽  
Nadia Asandimitra Haryono
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Millennial Generation ◽  
Structural Equation ◽  
Quantitative Research ◽  
Well Being ◽  
Equation Model ◽  
Risk Tolerance ◽  
Self Control ◽  
Management Behavior

Financial management behavior is organized, regulated, managed, and saved funds to achieve financial well-being. The study aims to effects of financial literacy, income, hedonistic lifestyle, self-control, and risk tolerance on financial management behavior. The object used in this research is the millennial generation based in Surabaya with a monthly income. This study focuses on the millennial generation since they are stigmatized for their excessive consumption and inability to conserve money. This study employs quantitative research and the Structural Equation Model as a method of analysis (SEM). A total of 200 people responded to the survey. According to this study, financial management behavior is influenced by hedonistic lifestyle and self-control, but not by financial literacy, income, or risk tolerance. This finding is because most respondents are still in college, and the study's limitations include the inability to include other variables such as intention and social standing. This study could be helpful to reference for various parties, especially the millennial generation, to be better at self-controlling their consumption and increase their financial literacy.

Role of Self-control and Money Attitude in Personal Financial Planning

2019 ◽  
Vol 67 (3-4) ◽  
pp. 362-366
Author(s):  
Mousumi Singha Mahapatra ◽  
Ram Kumar Mishra
Keyword(s):  
Factor Analysis ◽  
Financial Planning ◽  
Structural Equation ◽  
Measurement Model ◽  
National Sample ◽  
Equation Model ◽  
Self Control ◽  
Money Attitude ◽  
Personal Financial Planning

Having a suitable financial plan to take care of present and future financial needs as well as to balance day to day expenditure and savings is considered indispensable given the increased complexity and attention that the investment space taken in the recent times. Appreciating that there is a definitive role of intrinsic elements which can bring about a discipline to engage in the process or personal financial planning, the present study has the objective of understanding the role of self-control and money attitude in impacting personal financial planning. Considering a national sample of salaried individuals, the study has measured and collected data on self-control, money attitude and personal financial planning. Apart from conducting exploratory factor analysis, confirmatory factor analysis establishes a measurement model with satisfactory fit indices. Further, structural equation model exemplifies the positive a strong influence of self-control and money attitude on personal financial planning in presence of demographic factors viz. gender, age, education, income, job and marital status as control variables. The implications for investors, finance professional and academicians are discussed.

scholarly journals Study of Financial Behaviors Micro Small Medium Enterprise in Bandung, Indonesia

2021 ◽  
Vol 12 (1) ◽  
pp. 21-25
Author(s):  
Maya Malinda ◽  
◽  
Asni Harianti ◽  
Miki Tjandra ◽  
Yolla Margaretha ◽  
...  
Keyword(s):  
Financial Literacy ◽  
Financial Planning ◽  
Financial Management ◽  
Financial Behavior ◽  
Estate Planning ◽  
Financial Behaviors ◽  
Medium Enterprise ◽  
Personal Financial Planning

This study has purpose to reveal financial literacy from micro small medium enterprise (MSME) entrepreneurs in Bandung, Indonesia. Divided by three locations, Bojongsoang, Sukajadi and other location in Bandung city. The purpose of this research is to convey MSME behavior of financial literate. Criteria of financial literate are person can understand and practice for financial management, saving/investing, insurance & estate planning, credit, shopping. The method for testing used in this paper build by O’Neill is through Financial Fitness Quiz (FFQ)The result from 276 participants Bojong Soang, Sukajadi and other locations In Bandung, have different results degree. The result for saving/investment, insurance and estate planning, credit, shopping dimension showed low score below 20 points. It has been proven that MSME entrepreneurs need personal financial planning training. This research has purpose for to increase financial literate and to improve positive financial behavior with education and apps program peSak Abdi.

Causal Analysis of Hydrogen Acceptance

2005 ◽  
Vol 1941 (1) ◽  
pp. 115-121 ◽  
Author(s):  
Eric Molin
Keyword(s):  
Structural Equation Model ◽  
Indirect Effects ◽  
Structural Equation ◽  
Personal Characteristics ◽  
Causal Analysis ◽  
Equation Model ◽  
Factual Knowledge ◽  
Direct And Indirect Effects ◽  
Explanatory Variables ◽  
Willingness To Use

This paper presents and discusses a structural equation model on hydrogen acceptance. This model unravels the direct and indirect effects among personal characteristics, knowledge about hydrogen, perceptions, attitudes, and willingness to use hydrogen applications. In addition, indicators of differently colored information that can be provided by mass media have been included as explanatory variables. The estimated model indicates that colored information directly influences perceptions of hydrogen and indirectly influences attitudes about hydrogen and willingness to use it. In particular, negatively colored information decreases hydrogen acceptance, which cannot be counterbalanced by providing positively colored information. Furthermore, the model suggests that more factual knowledge about hydrogen increases its acceptance. The paper further discusses the likely development of hydrogen acceptance in the future and how practitioners can influence this.

Evaluating the Evolution of the Personal Financial Planning Industry: Mutualism, Commensalism, or Parasitism?

2021 ◽  
Vol 12 (1) ◽  
pp. 42-42
Author(s):  
Bryan Teoh Phern Chern
Keyword(s):  
Social Media ◽  
Financial Literacy ◽  
Financial Planning ◽  
Business Models ◽  
Service Providers ◽  
Personal Finance ◽  
Easy Access ◽  
Finance Management ◽  
Financial Planners ◽  
Personal Financial Planning

The financial planning and advice industry has been experiencing healthy growth for the past five years and is expected to accelerate this growth following the Covid-19 pandemic (IBISWorld, 2021). The pandemic has led to higher equity yields and appreciating asset value, directly increasing the total value of assets under management (AUM) held by financial planners and advisors. The industry in the US alone has surpassed $52.9 billion in 2021. As the economy is expected to improve, this figure is expected to follow suit. Not included in these figures are the explosion of online personal finance bloggers and influencers. Some YouTube and TikTok videos have raked in billions of views regarding personal finance (Smith, 2021). Many of these online contents have benefitted viewers and prompted them to start making good decisions regarding their personal wealth, spreading financial literacy to the masses. However, poor financial advice may be spread out as easily to viewers. The Wall Street Journal has reported on this issue back in 2005 where blogs and magazines have been found to give both good and bad advice on budgeting, saving, and overall personal finance management (Cullen, 2005). Whatever the net effect of this phenomenon, the easy access through social media has amplified it. This article briefly journeys through the evolution of personal finance management and personal financial planning, including the new trends this industry is moving towards. Subsequently, this article will look into the risk and rewards of the current personal financial planning and advice industry, including certified financial planners and uncertified personnel (social media influencers, financial gurus), as to whether consumers are benefitting as a whole, or otherwise. A disclaimer to this research is that the findings and opinions towards the industry do not encompass all the service providers in the business as there are many other influencing factors such as business models, individual agenda, and unique circumstances of each provider and consumer. Keywords: Conflict of interest; financial planning; financial experts; Influencers; Personal finance

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