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Financial Literacy Essay

953 Words4 Pages

Financial literacy is very gainful and important for individuals and families. It was proven by many researches in the world whereby it will build students’ opportunity to saving, expenses less than they receive, not having a debt with any sources and has stability on their budget for every month. So, students who lack a knowledge about financial will increase their difficulties to manage their financial a later years. Hence, students would have more negative views about finances and easily made a wrong decision if it related with a financial when they have a less knowledge about it and vice versa (Chen and Volpe, 1998).
In addition, financial literacy (knowledge) must be teaching by both parents and university. This is because, it is very …show more content…

Besides that, having a good in financial attitudes will make a student make a proper communication and interaction with their parents about financial matters. According to Burgess (2005), when student have a specific attitudes towards financial, they might be related with self-direction and security values, seeking a financial knowledge whereby implying that those attitudes likely interact with a self-directed for self-security. Furthermore, students that want to seek knowledge about on how to manage their expenses and savings, it all depends on how they value their money and make a financial security. So, for having a better ability in terms of attitudes and literacy, it might require the students to acquire the financial …show more content…

Majority students would having a problem to manage their financial when they start to deal with monetary challenges like they must think on how to manage their monthly budget to paying a bills or house rent, make a saving or might be some of them was giving a credit card or cash from their parents for daily spending. Many researches have proven that to improved financial well-being among university students, they must have a positive financial behaviors and this might influence the decisions that they make in the future (Joo & Grable,

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