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Financial resilience is founded on good financial planning behaviour. Contributing to theorisation efforts in this space, this study aims to develop a new theory that explains financial planning behaviour. Following an appraisal of theories, a systematic literature review of financial planning behaviour through the lens of the theory of planned behaviour (TPB) is conducted using the SPAR-4-SLR protocol. Thirty relevant articles indexed in Scopus and Web of Science were identified and retrieved from Google Scholar. The content of these articles was analysed using the antecedents, decisions, and outcomes (ADO) and theories, contexts, and methods (TCM) frameworks to obtain a fundamental grasp of financial planning behaviour. The results provide insights into how the financial planning behaviour of an individual can be understood and shaped by substituting the original components of the TPB with relevant concepts from behavioural finance, and thus, leading to the establishment of the theory of financial planning behaviour, which posits that (a) financial satisfaction (attitude), (b) financial socialisation (subjective norms), and (c) financial literacy, mental accounting, and financial cognition (perceived behavioural controls) directly affect (d) the intention to adopt and indirectly shape, (e) the actual adoption of financial planning behaviour, which could manifest in six forms (i.e. adoption of cash flow, tax, investment, risk, estate, and retirement planning). The study contributes to establishing the theory of financial planning behaviour, which is an original theory that explains how different concepts in behavioural finance could be synthesised to parsimoniously explain financial planning behaviour. [ABSTRACT FROM AUTHOR]

This research was conducted to identify the practices employed by the SorSU Faculty members towards saving money as well as discover the problems encountered by them in handling their finances. A total of 40 faculty members of Sorsogon State University Bulan Campus participated in this study. The mixed designed was used in this research which employed survey and focus group discussions. This study concludes that the faculty members of SorSU Bulan Campus adopt both the traditional way of saving money and the modern style of investment as modes of saving their finances which include budgeting, joining in “paluwagan”, using piggy bank, maintaining bank accounts and deposits and purchasing investment instruments. Increasing cost of utilities and unexpected day-to-day expenses; lack of financial literacy; poor debt management; and low and delayed salaries were the problems encountered by the faculty participants in handling their monetary resources. From the results of the study, this highly recommends the adoption of the Bongalonta’s Financial Model for SorSU Bulan Campus Faculty Members designed by the researcher as a guide or model for saving money. It is likewise recommended that seminars and trainings on financial literacy may be conducted. [ABSTRACT FROM AUTHOR]

This study investigates the factors driving the financial literacy of adult population in Spain using a regression count model (specifically the latent class Poisson model). The paper pays special attention to the effect of certain financial attitudes and financial personality traits (such as financial myopia, risk aversion, attitude to financial planning and self‐perception of financial vulnerability) upon financial literacy. The results demonstrate a positive association between the financial skills, the sociodemographic characteristics and the attitudes and personality traits of individuals regarding finances. Furthermore, the analysis permits the conclusion that the effects of the financial attitudes analysed in the study vary among the different population groups, which suggests the need to adapt financial literacy promotional programs to the characteristics of the target group. Findings have implications for financial educators, practitioners and policymakers to help them recognize the proper financial program to be delivered on the basis of the FL levels and the sociodemographic composition of the individuals. [ABSTRACT FROM AUTHOR]

This research aims to understand current patterns, trends, and gaps in personal finance by conducting a systematic literature review of 20 years. The study collected and analyzed the articles published between 2004 to 2024. The research articles were collected from the Scopus database using the PRISMA framework. The review shows changes in the research area, including behavioural finance, digital financial planning tools, and its impact on individuals' financial literacy and planning. The major limitation of this study is that the literature search for personal financial planning might not have incorporated all publications in this area. Furthermore, there is a possibility of bias in this review concerning the papers selected for review and how the researchers interpreted the results. The findings of this systematic literature review can assist policymakers, financial planners, and practitioners in making more informed financial planning decisions and regulations. Thus, by identifying the trends and gaps in personal financial planning, strategies can be defined to provide individuals and society with the necessary level of support. The research is helpful to existing knowledge in that it presents a critical discussion of the personal financial planning literature evident in the last twenty years. The research is original and provides valuable information for upcoming research and practical application in personal financial planning. [ABSTRACT FROM AUTHOR]

The purpose of this study is to examine the effect of financial literacy, financial stress, financial management practices, saving behaviour, household size and income adequacy, on Malaysian female millennials' retirement preparedness. A total of 268 questionnaires were self-administered and collected from Malaysian female millennials residing and working in the Klang Valley aged between 26 to 41 years old using a purposive stratified sampling method. Regression analyses were performed using SPSS software to determine the influence of variables investigated on retirement preparedness. Findings indicate that financial literacy level (β = 0.154, t-statistic = 2.669), financial stress level (β = 0.108, t-statistic = 2.207), saving behaviour (β = 0.281, t-statistic = 5.713) and household size (β = 0.242, t-statistic = 2.616), have significant positive effects on retirement preparedness. Income adequacy (β = - 0.298, t-statistic = - 2.595) on the other hand, is significantly and negatively associated with retirement preparedness, while financial management practices are found to have no influence. This study contributes to extant literature by examining the increasingly significant segment of the working population in our country. Hence, our findings should provide more insights to interested stakeholders in designing new or improving existing financial planning programs or mechanisms, particularly those related to retirement to better promote sound retirement planning among Malaysian female millennials. [ABSTRACT FROM AUTHOR]

Retirement planning is viewed as one of the cornerstones of long-term household financial security. The responsibility of retirement planning has now been shifted to the individual and is no longer the responsibility of the employer. This paper examines the link between financial literacy and retirement planning among informal sector traders in the Randburg area of Johannesburg, South Africa. A questionnaire approach was used to collect data from 269 randomly selected informal sector respondents. The data was analysed using ordinal regression. Robustness tests were executed using the Wald test. Findings reveal that financial literacy is linked to retirement planning, and especially with reference to informal sector workers. Additionally, education, income and the informal business sector were observed to have a positive and significant influence on retirement planning. The paper contributes to both theoretical and practical discourses on retirement planning for informal sector entrepreneurs which has not received much attention. These results are important for policy makers in retirement planning as well as curriculum development. [ABSTRACT FROM AUTHOR]

This study tests the hypothesis that public servants have higher levels of financial preparation for retirement compared to other occupations. Also, it identifies whether the model is invariant. The results indicate that public servants have better future expectations, financial planning, and savings behavior than other occupations. The level of financial preparation for retirement is low in all occupations. The construction of public policies that consider both the need to increase levels of planning and inequalities is essential for greater financial well-being in retirement. [ABSTRACT FROM AUTHOR]

Research has shown that even though standardized financial education has gained prevalence to promote financial literacy over the past decade, it has had little effect on personal financial planning. The present study used a randomized control trial to examine the effectiveness of a Python‐based personalized financial projection on young working adults in Hong Kong, to examine if and how this approach improves their financial planning. Participants assigned to the experiment group received standardized financial education and Python‐based financial projections, while those in the control group only received standardized financial education. The assessment based on the two‐wave data showed that Python‐based financial projection promoted future time perspectives, reduced temporal discounting, and improved financial planning via the full mediation of promoting financial attitudes. Although numerous applications for personal financial planning exist (such as Wallet, Walnut, Monefy, and Money View), our Python‐based financial projection stands out as the pioneering solution tailored for the hands‐on manipulation of programming code to effectively manage personal finances. Our findings suggest a new track to upgrade personalized financial projection and standardized financial education and contribute generously to the development of personal finance education. Practitioner notesWhat is already known about this topic Standardized financial education promotes objective financial knowledge.Standardized financial education has a limited effect on personal financial planning.Classical personalized financial projection promotes personal financial planning, but the effect is small.What this paper adds Introduction of a novel Python‐based personalized financial projection by manipulating projection code.The evidence that Python‐based personalized financial projection more strongly improves personal financial planning, compared to the classical personalized financial projection.The evidence why Python‐based personalized financial projection can improve personal financial planning.Implications for practice and/or policy Facilitating engagement of young working adults with personalized finance planning through the use of a Python‐based intervention.Integrating Python‐based personalized financial projection into standardized financial education in the school setting.Using Python as the platform to design more topic‐specific financial education module. [ABSTRACT FROM AUTHOR]

The purpose of this study was to document factors associated with a couple's decision to manage finances entirely jointly (i.e., pooled), somewhat jointly, or separately. Based on survey data from 636 married or cohabitating respondents, test results showed that married and less well-educated individuals are more likely to pool finances with their partners. Additionally, it was determined that the odds of partners pooling finances increase as the size of a household increases and when the household exhibits a positive net worth. In this study, households with two income earners were approximately 50% less likely to pool their finances compared to households with one income earner. It was further determined that those who reported agreeing on issues related to spending were more than twice as likely to pool their finances as compared to those who did not agree with their partner on issues related to spending. The findings from this study advance the marriage and family therapy literature by showing that financial integration style and financial decision-making responsibilities are separate constructs and should not be used as proxies for one another. [ABSTRACT FROM AUTHOR]

Financial literacy is crucial to financial inclusion and facilitates access to and use of formal financial services and products. This study aims to investigate the role of financial literacy in improving financial inclusion among Pakistan's women (a country characterized by a high gender gap and lower financial inclusion). A positivist philosophy was adopted and a survey design using a self-administered structured questionnaire was used to collect data from a sample of working women and university graduates. Initially, a pilot test was conducted on a sample of 80 respondents to confirm the reliability and validity of the questionnaire used. Final sample of 478 respondents was analyzed using inferential descriptive statistics and covariance-based structural equation modeling (CBSEM). The findings demonstrate that different aspects of financial literacy, i.e., savings management practice, debt management practice, investment management practice, and financial planning management practice, have a significant positive impact on financial inclusion among women. The findings are supported by theories of behavioral finance (i.e., self-efficacy and goal setting theory) and institutional theory. The study contributes to the existing literature on the relationship between financial literacy and financial inclusion and has implications for policymakers and practitioners in the financial sector in Pakistan. [ABSTRACT FROM AUTHOR]

Purpose: In Indonesia, the Islamic Economics and Finance Sector is growing rapidly, but the literature on Islamic financial literacy is still minimal. This study aims to show research opportunities with the theme of Islamic financial literacy, especially inclusive Islamic financial planning through bibliometric analysis of Scopus and connected papers. Design/methodology/approach: A comma separated value (CSV) file containing more than 2,000 references meta data was used for analysis on Vos Viewer in the period of 1963–2020. The grouping of network visualization maps is done using six keywords, namely, "Financial Literacy," "Financial Inclusion," "Islamic Financial Literacy," "Financial Planning," "Personal Finance" and "Household Finance." Findings: The findings complement the keywords that are generally used as references in the formation of theories regarding inclusive Islamic financial planning. After combining the "ris" file from the connected paper, the most used terms are financial knowledge, financial education, financial behavior, financial decision-making process, financial inclusion, risk sharing and financial discourse. Originality/value: The proportion which planned to be applied in Indonesia will differentiate the inclusive Islamic financial planning framework from what has been done before. This study outlines the basis of the relevant literature review in the theme of Islamic financial literacy research, especially inclusive Islamic financial planning. [ABSTRACT FROM AUTHOR]

SMEs (Small and Medium Enterprises) serve as the backbone of the Indonesian economy, in a country with the world's largest Muslim population. Therefore, further analysis is needed regarding the factors influencing the performance of SMEs in an effort to maximize the country's revenue. This research aims to examine the relationship between religiosity, financial literacy, and Islamic financial planning on the performance of Micro, Small, and Medium Enterprises (MSMEs) in the Greater Jakarta area (Jabodetabek). This study employs a quantitative approach using the Structural Equation Model Partial Least Square (SEM-PLS) with primary data collected through an online purposive sampling technique from 113 MSMEs in Jabodetabek. The performance of MSMEs is significantly influenced by religiosity, Sharia financial literacy, and Islamic financial planning. Religiosity has a significant impact on Sharia financial literacy and Islamic financial planning. Sharia financial literacy affects Islamic financial planning significantly. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to analyse, firstly, whether education, financial inclusion, financial literacy and financial planning can be antecedents that affect Islamic welfare and, secondly, whether productivity can be a mediator to improve Islamic welfare. Design/methodology/approach: This study involved quantitative research using data obtained from a survey. The respondents were 538 Muslim families in East Java, Indonesia. Structural equation modelling was used for the analysis. Findings: This study tested 13 hypotheses, of which 10 were accepted. The accepted hypotheses refer to the effects of financial literacy on productivity, financial inclusion on productivity, financial planning on productivity, financial planning on Islamic welfare, education on Islamic welfare, productivity on Islamic welfare, financial literacy and productivity on Islamic welfare, financial inclusion and productivity on Islamic welfare and financial planning and productivity on Islamic welfare, as well as the effects of financial inclusion on Islamic welfare. Meanwhile, three hypotheses were not accepted; they refer to the effects of financial literacy on Islamic welfare, the effect of education on productivity, as well as the impact of education and productivity on Islamic welfare. Research limitations/implications: The study was conducted only with respondents living in East Java, so the results depict the condition of Muslim families' welfare in East Java. Originality/value: Research into the antecedents of Islamic welfare has received little academic attention, so this study explores how education, financial inclusion, financial literacy, financial planning and productivity could affect Islamic welfare among Muslim families. [ABSTRACT FROM AUTHOR]

Copyright of Jurnal Manajemen dan Organisasi is the property of IPB University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In Indonesia there is still a big opportunity to develop the sharia industry in Indonesia, especially sharia life insurance. This is based on the penetration rate of life insurance in Indonesia in 2018 only reaching 1.3%, which shows a decrease from the previous year which was 1.4%. Therefore a strategy is needed to increase the penetration of sharia insurance through research on the factors that influence a person's interest in participating in sharia life insurance. This study aims to examine the effect of financial literacy, Islamic life insurance knowledge, Islamic financial planning, and financial behavior on interest in participating in Islamic life insurance. This research is a quantitative research. Primary data was obtained through a survey that obtained 140 respondents aged over 17 years and domiciled in the city of Bogor. The analysis uses the Partial Least Square Structural Equation Modeling (PLS-SEM) method with SmartPLS software. The results of this study indicate that the variable knowledge of sharia life insurance and sharia financial planning has a significant effect on interest in participating in sharia life insurance. On the other hand, the variables of financial literacy and financial behavior do not significantly influence interest in participating in sharia life insurance. [ABSTRACT FROM AUTHOR]

Financial literacy (FL) is a crucial skill set that police officers must possess, particularly in managing their funds during their tenure in the police force and as they approach retirement from their service. The extent of an individual's FL will directly impact the extent of their financial planning knowledge and budgeting abilities required as a police officer, commencing from the initial stages of their career. The primary objective of this study is to investigate the level of FL within the police force, with a particular emphasis on the factors of financial knowledge, attitude, and behaviour. The study employed a simple random sampling technique to gather data from a sample of 68 law enforcement employees stationed in Vosman and Klipfointein. The data was acquired through survey questionnaires. The data were descriptively analysed using the Statistical Package for the Social Sciences (SPSS). The results of the study suggest that police officers often possess low to moderate levels of FL. However, there is a positive correlation observed between the variables under investigation. The recommendation proposes that the government should implement ongoing training and short-term interventions focused on FL, with a particular emphasis on tailoring these initiatives to individuals' income levels and lifestyles. This study utilized intervention and transformational learning theory to support law enforcement professionals in enhancing their financial planning both prior to and following their employment, by means of financial education. [ABSTRACT FROM AUTHOR]

Background: Women have generally lower levels of financial literacy than their male counterparts, regardless of country of origin. This financial literacy gender gap makes women more vulnerable to the effects of pandemics, like the coronavirus disease 2019 (COVID-19) pandemic. Aim: This study sought to examine financial literacy competencies of women in agribusiness and their financial experiences during the COVID-19 pandemic. Setting: The study was carried out in five agricultural districts namely, Gweru, Masvingo, Mutoko, Mount Darwin, and Mutare. The districts represented Zimbabwean agricultural regions. Methods: An embedded mixed methods research design was adopted where both qualitative and quantitative data were collected for analysis. Data were successfully collected from 216 women in agribusiness and follow-up interviews were conducted with 15 informants. Results: Women in agribusiness have poor financial literacy competencies. Most women in agribusiness practised only a range of 2–3 good financial behaviours out of the eight examined concepts, with only 10% scoring above the minimum expected score of six. During the pandemic, women in agribusiness lost income and failed to take care of household and business expenses. Conclusion: Women in agribusiness do not practise vital financial literacy competencies required for financial wellbeing and financial resilience. Therefore, the study recommends the implementation of training programmes that capacitate women with basic financial literacy competencies such as budgeting, saving, and retirement planning. Contribution: Financial literacy competencies were conceptualised together with financial experiences during a pandemic for the first time. More so, in the agribusiness sector which is crucial for economic development.

This study undertakes a bibliometric and content analysis on women's financial literacy. The purpose of a bibliometric research on financial literacy and women is to carefully evaluate and quantify the body of literature on this subject. It attempts to identify trends, research gaps, significant authors, and essential ideas, offering a thorough overview that might direct future research and policy activities to increase women's financial literacy and well-being. The data extraction commenced in January 2023 with a thorough criteria search for articles, which includes inclusion and exclusion criteria using Web of Science Core database, resulting in 312 articles, published between 1998 and 2022. Biblioshiny application as well as the VOSviewer software for network visualization of keywords and bibliographic coupling is used. Based on the outcomes of the scientific bibliographic coupling, dominant themes were identified – “Global Financial Literacy: Addressing Disparities and Enhancing Education”, “Addressing gender gap in financial inclusion and personal finance behaviour”, “Empowerment through Financial Literacy: Overcoming the Manacles of Domestic Violence” and “Women's retirement planning and preparedness”. Future research in this area could examine global gender differences in financial literacy, implement targeted financial education interventions, incorporate financial literacy and economic empowerment into domestic violence policies, investigate factors influencing women's retirement planning, and advance gender equality and financial well-being globally. The outcome from the future research is anticipated to assist regulatory bodies, government agencies and non-profit organization in enhancing existing regulations (specifically for women) and provide the platform for a sustainable wealth management and well-being program for women.

This research aims to investigate the influence of two key factors, namely Financial Socialization and Financial Experience, on the investment intention of private sector employees in the city of Cikarang. Additionally, this study also analyzes the role of Financial Literacy as a mediator in the relationship between Financial Socialization, Financial Experience, and Investment Intention. The research methodology employs a quantitative approach with data collection through questionnaires distributed to private sector employees in Cikarang. Data analysis is conducted using regression techniques and mediation analysis. The research findings indicate that Financial Socialization and Financial Experience have a significant influence on Investment Intention. Furthermore, Financial Literacy has been proven to mediate the relationship between Financial Socialization, Financial Experience, and Investment Intention. These findings have important implications for human resources practitioners and educational institutions to enhance financial understanding and investment intentions among private sector employees in Cikarang. Moreover, this research also provides a strong theoretical foundation for further studies in the fields of financial literacy and financial behavior of employees. [ABSTRACT FROM AUTHOR]

This article emphasises the need to improve the level of financial literacy of the population, which is a qualifying driver of the harmonious development of the state's financial system and has particular relevance in the post-war economic recovery. The impact of the war on financial behaviour and the use of FinTech innovations by Ukrainians is determined. The purpose of the article is to clarify the peculiarities of assessing financial literacy and financial behaviour of Ukrainians during the war, taking into account the specifics of the impact of financial technologies (Fintech) on the economic development and welfare of Ukraine. The conceptual framework for assessing financial literacy and financial behaviour of the population is formed, which is presented as a set of interrelated elements. The paper presents the results of a survey conducted among Ukrainians, including those with IDP status, within the framework of the UK-Ukraine twinning grants scheme (Project UUT23 "Fintech as a fence for the shock and fuel for the recovery? Lessons from the war"). The results of the survey allowed us to formulate a set of recommendations both at the macro level and at the level of an individual provider to ensure that the financial market and fintech tools perform the function of economic recovery after the social trauma suffered by consumers of financial services. [ABSTRACT FROM AUTHOR]

Psychological foundation of financial planning. Knowing how people's ideas, emotions, and behaviors affect their financial decisions constitutes the psychological basis for financial planning. It acknowledges that a person's opinions, beliefs, and personality characteristics greatly influence their financial objectives, risk tolerance, and saving habits. Financial decision-making is influenced by psychological elements such as biases in thought, feelings, self-control, and knowledge of finances. For instance, people may display biases like fear of loss or overconfidence, which can result in poor investment decisions. Furthermore, psychological theories stress the significance of establishing financial literacy, impulse control, and realistic goal-setting. Financial planners are able to comprehend their clients' motives, handle their particular issues, and offer customized advice by taking psychological factors into account. This will help people make wise financial decisions. The psychological underpinnings of financial planning are important for research because they can help us better understand and influence people's financial decisions and behaviors. Researchers can pinpoint cognitive biases, emotional drives, and personality qualities that influence financial decisions by investigating the psychological aspects that affect financial planning. By creating financial literacy programs, tools for individualized financial planning, and interventions that target particular psychological barriers, this knowledge can help develop strategies and interventions that effectively encourage good financial habits. Financial advisers can better assist clients in attaining their financial objectives by comprehending the psychological underpinnings underlying financial planning, which can help policymakers improve financial security and economic outcomes for both individuals and society.A technique for analyzing complicated decision-making issues and assessing the interplay between numerous components is the Decision-Making Experiment and Evaluation Laboratory (DEMATEL). It offers a methodical way to evaluate the causal connections between various variables and their impact on a particular issue. DEMATEL builds a model of structure and measures relationships between elements using surveys or expert opinions. DEMATEL aids in the identification of important factors and the visualization of causal links using cause-and-effect diagrams, considering both the cause and effect features. The technique is frequently used to enhance decision-making processes, prioritize actions, and boost overall effectiveness in a variety of industries, including supply chain management, emergency management, and healthcare. Understanding complicated systems and making decisions based on interconnections between variables is made easier with the help of DEMATEL.Future Time Perspective scored the first rank and Planning Activity Level got the last rank. In this PaperPsychological foundation of financial planningFuture Time Perspective scored the first rank and Planning Activity Level got the last rank. [ABSTRACT FROM AUTHOR]

Past literature has explored the characteristics of individuals who use high‐interest and tax‐inefficient consumer debt products, such as carrying a monthly credit card balance and engaging with alternative financial services. That literature revealed that users of these debt products tended to be financially constrained households faced with an immediate liquidity need, and that they had lower levels of financial literacy. Much less is known, however, about the role financial literacy may play when a more advantageous solution may be available but not used—an example of which is securities‐based loans, which offer lower rates and potential tax preferences. Therefore, this study used the 2018 National Financial Capability Study to examine why investors use traditional debt products when they could likely have qualified for a securities‐based loan. Using bounded rationality as a theoretical framework, this research advances the literature in consumer debt and borrowing decisions. The results found that objective knowledge, as opposed to self‐assessed ability or confidence, explained the use of optimal debt products. Additionally, advisor engagement was positively associated with securities‐based loan use. [ABSTRACT FROM AUTHOR]

The significance of financial literacy is increasing faster in today's world. Financial literacy provides individuals with necessary and adequate financial knowledge and makes them professionally aware of managing their finances. It plays a vital role in the economic development of an economy. The study examines the impact of financial literacy on investors' financial decisions, financial planning, selection of financial products, and financial literacy awareness program and its influence on investors' investment decisions. In order to obtain information from the respondents, we employed a questionnaire that was both structured and self-administered. The investigation analyzes the survey responses from 360 respondents in Saudi Arabia. Various statistical methods such as descriptive statistics, correlation analysis, analysis of reliability, analysis of variance (ANOVA), and regression analysis were utilized to evaluate the data obtained. The results obtained in the study indicated that financial literacy has a significant impact on investors' financial decisions, financial planning, and the selection of financial products that influence investors' investment decisions. The research also found that financial literacy is affected by financial literacy awareness programs, which have a favorable influence on the investment decisions made by investors. The study's findings will help prospective investors understand the importance of raising financial knowledge for their future financial goals. [ABSTRACT FROM AUTHOR]

This study aims to determine the factors that influence Islamic financial literacy, financial behavior and financial resilience to Islamic financial planning and management of young couples after the covid 19 pandemic. This research is a qualitative research using Structural Equation Model Partial Least Square (SEM-PLS) with primary data taken from questionnaires based on convenience sampling, totaling 250 respondents. Islamic financial literacy is influenced by income/employment factors. Islamic financial literacy has an impact on financial planning by full meditation since it only significant to undirect affect through financial behaviour and financial resilliance. Financial behavior is influenced by the level of risk tolerance and Islamic financial literacy. Financial resilience is influenced by financial literacy and financial behavior. Islamic financial planning is influenced by behavior and financial resilience. Lastly, Islamic financial management is influenced by financial literacy, financial behavior, and financial resilience. [ABSTRACT FROM AUTHOR]

In 1990, the Journal of Financial Counseling and Planning (JFCP) was established. The journal publishes academic research on consumer financial decision-making, financial education, counseling, and planning. This article reviews the journal's contents published during the period 1990–2022. It analyzes JFCP's publication trends, citation statistics, significant themes, authors' collaborations, keywords, and contributions to the literature of consumer finance. Most studies employed Life Cycle Hypothesis and Expected Utility Theory. JFCP publishes mostly US-based quantitative empirical studies. JFCP's eight knowledge themes are credit card behavior; financial literacy and financial behavior; financial risk tolerance; financial education, and financial behavior; financial distress and financial self-efficacy; financial well-being; workplace financial education and financial help-seeking behavior, and JFCP's retrospection. Among JFCP's articles, the most used keywords selected by authors are "survey of consumer finances" and "financial literacy." This study also describes the author, country, and concept networks. [ABSTRACT FROM AUTHOR]

This study aims to analyse and compare the perception and the knowledge of financial literacy of the Portuguese with training in Economics, Management, Finance, and/or Accounting. It is used a quantitative methodology based on a questionnaire that studies the perception of financial literacy and assesses financial literacy knowledge. The sample is formed by 395 Portuguese individuals with training in Economics, Management, Finance, and/or Accounting. The obtained results show that the scale of financial literacy perception presents a structure with three factors: 1–2 year financial goals and planning, long‐term saving, and taste for numerical calculations. The results also show that the Portuguese individuals present greater levels of financial literacy perception compared to their actual knowledge of financial literacy. The originality of this study shows that the utilized instrument was adequate to measure the financial literacy perception of the Portuguese individuals with training in the areas of Economics, Management, Finance, and Accounting. The difference between the perception and the actual knowledge of financial literacy among people trained in these areas should encourage a revision of the curriculums of these degrees, to shorten that gap. [ABSTRACT FROM AUTHOR]

Purpose: Financial risk-taking attitude (FRT) plays an important role in consumers' financial decisions, thereby determining consumer well-being. Motivated by the recent research on consumer well-being, this paper explores the relationships between financial literacy, a propensity to plan (PTP), FRT, financial satisfaction and life satisfaction. Design/methodology/approach: The authors use the Household, Income and Labour Dynamics in Australia (HILDA) survey to achieve the purpose of this paper. Furthermore, the authors use the variance-based partial least square structural equation modeling (PLS-SEM), also known as the PLS path modeling approach to test our proposed hypotheses empirically. Findings: The study finds a strong partial mediation of FRT between financial literacy and financial satisfaction. Moreover, the analyses reveal that a high PTP combined with a high FRT results in achieving high financial satisfaction, which leads to improved life satisfaction. Practical implications: The findings show the importance of creating financial plans in accordance with risk tolerance. While increasing financial literacy is relevant, the research suggests that tools that help consumers plan and invest in appropriate risky investments will lead to better outcomes. Originality/value: Though scholarly acumen of consumer well-being is rapidly developing, little remains known regarding the collective roles of financial literacy, PTP and FRT. The study addresses this gap by showing that financial literacy, risk-taking attitudes and planning propensities are all interconnected and necessary ingredients to improve financial and life satisfaction. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic topped the financial and economic crisis faced by small and medium-sized enterprises (SMEs) in Lebanon. The purpose of this article is to explore the budgeting and financial techniques used by the Lebanese SMEs during the crisis, using an exploratory and qualitative approach to discuss the impact of the crisis on the techniques used. Data collection involved sending questionnaires to the managers of 133 different SMEs. Results have shown that a low number of financial management techniques are used, while most SMEs tend to abandon their prior budgeting techniques. The usage of financial techniques is related to financial literacy and could be explained by the tendency to focus on short-term profitability and liquidity. We found that younger and more educated managers have a higher tendency to use more techniques. Managers are encouraged to rely on budgeting and financial techniques to increase their survival chances. Long-term planning can be a powerful tool to avoid reactive strategic behaviour. Managers need to anticipate environmental constraints using different scenarios or by testing the robustness of strategic initiatives using diverse tools like financial planning and control. [ABSTRACT FROM AUTHOR]

There is a growing awareness of the importance of financial education and literacy in personal economic success, yet not many Generation Z are proficient in this area. The lack of understanding can lead to consequences such as not recognizing the need for greater retirement savings, making poor spending decisions, or when overpaying off high-interest debt. In addition, many of the studies on financial education and literacy among Generation Z remain untapped in the context of China. As a result, the researcher emphasizes the evidence by mining data from the Web of Science database and analyzing the data using bibliometrics and content analysis. Contemporary research on financial education and literacy in the web of science has discovered that it is trending strongly across fields like environmental science, healthcare, energy, and economics, according to bibliometric data. Further investigation has uncovered the important writers, journal sources, and universities in China that are creating such knowledge. Subsequently, the content analysis on the focused area has yielded results related to recent findings from key authors, and how their studies describe the socio-demographic and psychological behavior of Generation Zs. As an implication, China's academic research reveals that Generation Zs' subjective and objective financial education may be absorbed into their financial self-beliefs, which affects how they handle their finances. Thus, financial education is instrumental to help them set clear financial goals and plan for the future. [ABSTRACT FROM AUTHOR]

While there have been numerous studies illustrating the rather low level of financial knowledge of Americans, there have been only a few efforts to examine the effectiveness of employer-provided programs in enhancing financial literacy and the ability of these programs to modify worker retirement and saving decisions. In this paper, I summarize the findings from a series of studies conducted over the past 20 years. All of the studies were done in conjunction with employers. The primary objectives of this research have been to evaluate the effectiveness of onboarding and retirement planning programs and the financial education provided in these programs. In addition, employer nudges to mid-career employees are examined. I describe the impact of financial planning programs on worker knowledge of key financial concepts and their ability to make better decisions concerning saving decisions and the timing of retirement. I also provide recommendations on how to improve the effectiveness of workplace financial education programs. [ABSTRACT FROM AUTHOR]

This research uses data from the 2018 National Financial Capability Study to investigate the attributes of households that engage in higher levels of family financial planning. Greater levels of financial planning are evidenced when households report more positive responses in planning for retirement, saving for emergencies, and establishing a will. Based on an ordinal logistic regression, various demographic attributes, objective and subjective financial knowledge scores, frequency of participation in financial education, and the frequent use of financial websites or apps to help with financial tasks are positively related to higher levels of family financial planning. The results have implications for financial literacy education and the development and marketing of websites and apps for personal finance. [ABSTRACT FROM AUTHOR]

Financial education can be described as the process by which financial consumers could improve their understanding of financial concepts, products and risks through objective advice, information and/or instructions. This article discusses the role of the selected role-plyers in the development of financial education in South Africa. Accordingly, the roles of the National Treasury and the National Consumer Financial Education Committee (NCFEC), the Banking Association South Africa (BASA), the South African Reserve Bank (SARB), the Pudential Authority, the Provincial Consumer Protection Authorities (PCPAs), the Provincial Consumer Protection Offices (PCPOs), the debt counsellors and estate administrators are discussed. The role of these selected role-players is discussed to determine whether they have adopted appropriate and adequate measures to ensure the robust and consistent combating of financial illiteracy among low-income earners in South Africa. Moreover, this article also discusses the enforcement of the duties of these role-players in so far as they are supposed to develop financial education in South Africa, especially against the backdrop of the ongoing coronavirus (COVID-19) pandemic.

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Purpose: This study introduces the concept of financial advice deserts (FADs), including financial advice received from personal financial advisors (PFAs) and Certified Financial Planners™ (CFP professionals) and investigates the association between living in these FAD states and the retirement planning activities of individuals. Design/methodology/approach: This study uses merged data gathered from multiple sources including (1) available state-level information on CFP professionals from the CFP board website, (2) state-level information on PFAs from the US Bureau of Labor Statistics and (3) individual levels of retirement planning behavior and other personal characteristics from the 2018 FINRA National Financial Capability Study. Using web data extraction tools and logistic regression analyses, this study examines the association between a series of individual retirement planning activities and living in the FAD states. Findings: The study found that living in the FAD states was negatively associated with both having retirement accounts and contributing regularly to retirement accounts. Overall, the findings of this study underscore the need for providing greater access to financial advice and improving financial literacy among financially marginalized populations who are residing in FAD states in the United States of America. Originality/value: This study makes unique contributions to the literature by raising the issue of geographic inequality in terms of access to financial advice and introducing the innovative notion of FADs. The findings provide fresh insights into the understanding of retirement planning and preparedness from the perspective of state-level inequality of financial advice through PFAs and CFP professionals, thereby expanding the previous knowledge that emphasizes only individual- and household-level differences. Significant implications for public policies and practitioners are also discussed. [ABSTRACT FROM AUTHOR]

Financial planning is a buzzword in today's world. Authors aim to understand the awareness about the need and implementation of the financial planning amongst the Generation Z (those born between 1997 and 2012) with the help of primary data collected. Authors are interested in understanding the perspective of the Generation Z about earning-saving-spending with respect to the concept of the financial planning. Increased per capita income, improved life span, varying social structure from joint family to nuclear ones and lack of robust social security system; justify the need for a change in the management of personal finance. Regulators and governments are pulling away from guaranteed pensions and employers are pulling away from offering lifetime employment. Hence individuals, now need to take on the responsibility of creating wealth for themselves. This highlights the need and importance of personal financial planning. Authors aim to understand awareness level of financial planning among students who are future savers, aged between 18-25 years (Generation Z) based on testing their exposure to the current Indian financial system as a whole, covering financial institutions, markets, instruments and services. The primary data is collected from students aged between 18-25 years, through a questionnaire. The data is scientifically to be explored for reflecting the association between the awareness and financial planning through the ever-evolving financial institutions, markets, instruments and their continuity in the life time of the Generation Z. Authors aim to find the relation between the financial awareness of Generation Z for effective financial planning ensuring wealth creation and maximization. [ABSTRACT FROM AUTHOR]

Today's financial services sector has been significantly affected by a digital transformation driven by technology. It is now feasible to manage money and make financial plans using a smart phone, a computer, plastic money, and the cyberspace, thanks to the growing digitisation of financial products and services. The COVID pandemic has inadvertently encouraged the use of DFS. More customers have been drawn to DFS due to its easy usage, quickness, dependability, safety, and low cost. However, to use DFS successfully, one must possess digital financial literacy (DFL). DFL is crucial with regard to how digital financial technology affects saving and spending habits. The millennial generation is the one that uses digital technology most frequently in India, and a sizeable portion of them are influenced by social media when making financial decisions. This research examines the relationship between DFL, and saving and spending habits among millennials, by using a structured questionnaire framed with the help of prior studies in the area. The study focused on four dimensions of DFL: knowledge, experience, awareness, and skill. A simple correlation and regression were used to study the relationship among the variables. The study found that there exists a positive and significant relationship between financial behaviour and DFL among the millennial generation. Spending habit also positively influences saving habit. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to identify the profile of the Portuguese regarding the perception of financial literacy. Design/methodology/approach: The utilized methodology is based on a questionnaire survey that assesses the perception of financial literacy. The sample is composed of 830 Portuguese individuals over 18 years old. Findings: The results show that the financial literacy scale presents a tri-factor structure with adequate validity and reliability levels. The three obtained factors are designated 1-2-year financial planning and goals, long-term saving and taste for numeric calculations. Originality/value: The originality in this study is shown in the application of the cluster analysis, which demonstrates the formation of three clusters that present different perceptions of financial literacy, classifying the Portuguese into a cluster of high financial literacy and taste for numeric calculation, a cluster of low financial literacy and a cluster of financial planning and saving but without the taste for numeric calculation. [ABSTRACT FROM AUTHOR]

Objective –This study aims to obtain empirical evidence of the effect of economic incentives, financial technology, and financial literacy on financial planning. Methodology –The data used in this study came from a questionnaire with 113 millennial respondents who live throughout Indonesia. Questionnaires were distributed in 2020 to understand millennial financial planning and the factors influencing it during the Covid-19 pandemic. Findings – This research found that economic incentives did not affect financial planning, while financial literacy and financial planning had a positive and significant effect on financial planning. Novelty – This study is among the first to learn the effect of the Covid-19 pandemic on millennials' finance. [ABSTRACT FROM AUTHOR]

Along the last years, it has been increasingly observed that a reduced understanding of a pro-saving financial behaviour, the lack of financial literacy, have led to bad decisions regarding the living of an individual, of a family and finally, by extension, the well-being of a nation. The lack of financial literacy is also confirmed by surveys of various organizations, measuring the awareness of the population about interest, inflation, loans, etc., knowledge that seems to be very poor. People's negative habits have consequences, such as: accumulating debts, many times not even realizing how quickly this happens. This article aims to present a theorethical approach and some tips & tricks for saving up and offers some practical solutions. [ABSTRACT FROM AUTHOR]

Objective - The penetration rate of financial planning is still considered low according to a few studies done by our regulatory bodies in Malaysian and a few scholars and researchers. Therefore, the novelty of this research is ingrained in a study to explore the factors influencing working adults' awareness of individual financial planning. The possible factors included financial literacy, education level, and income level. Secondly, a critical discussion on the literature review that was done by the previous researchers regarding both the dependent variable and independent variables will be performed. Methodology/Technique -- On the other hand, a quantitative study approach is employed in this study. Hence, the targeted population is working adults, with data collected through a convenient sampling approach with a minimum sample size of 120 respondents. Additionally, the questionnaire was distributed through a digital survey. Finding -- Moreover, the analysis methods adopted in this study included validity tests, reliability tests, descriptive statistics, and inferential statistics. According to the findings, there is a significant relationship between financial literacy and awareness of personal financial planning among working adults in Penang. In other words, financial literacy represents a significant predictor for the dependent variable. Novelty -- However, the other two independent variables are insignificant predictors of the awareness of personal financial planning among working adults in Penang. [ABSTRACT FROM AUTHOR]

In modern conditions, there is an urgent need to form a high level of the population's financial literacy. The development of financial technologies, the digitalization of the modern world, and the widespread use of new financial services require an increase in the level of financial education among the population. The aim of our study is to highlight the importance of financial literacy for ensuring a successful pension insurance reform. The dialectical method of cognition, the method of analysis and synthesis as well as online questionnaires used for conducting research madr it possible to determine main problems in the knowledge system regarding the reform of pension insurance. Developed countries, especially those ones experiencing demographic problems, have started the massive development of the multilevel pension insurance system. Consequently, the issue of enhanced financial literacy has arisen not only in the area of personal finance management at the consumption level, but also in the area of pension savings and their investment. Ukraine has initiated a profound reform in the pension provisions field with the transition to insurance principles. Our citizens should form a clear position on the necessity to participate in the supplementary pension insurance system. According to the results of the survey, slightly more than half of the respondents show their interest in pension reform. But their level of knowledge is not sufficient to understand the basic principles of pension reform and take actions aimed at the accumulation of pension funds. This fact necessitates the formation of financial literacy at three levels. The first level is represented by secondary schools. The technical-vocational education institutions, colleges as well as universities of the second level are supposed to deepen the financial literacy which further should be continued as self-education at the third level of adulthood. Improving financial literacy in the field of pension insurance should result in a high level of cooperation with various financial institutions, including insurance companies, private pension funds, and banking institutions in the field of raising funds for future pension provisions through the skillful and systematic personal finance management. [ABSTRACT FROM AUTHOR]

The issue of the relationship between financial literacy and entrepreneurship is still not a fully explored research area. On the one hand, there are common views that financial literacy and education in finance are necessary in every individual's life, and that an insufficient level of financial literacy may result in erroneous economic decisions. On the other hand, research on the impact of narrowly defined financial literacy on business start-up decisions is still rare. As a result, there are no clear indications regarding the need for education in the area of finance in order to stimulate entrepreneurial decisions, including the survival of launched economic undertakings. This article deals with the relationship between financial literacy and chosen entrepreneurial aspects such as 1) Phases of Entrepreneurial Activity; 2) Entrepreneurial potential; 3) Motivation; 4) Involvement in the technology sector; and 5) Business exit reasons. All of the above aspects are embedded in the context of financial literacy. The article sheds light on the relationship between financial literacy and entrepreneurship and creates a background for further attempts to deepen understanding of this issue. [ABSTRACT FROM AUTHOR]

The life expectancy rate of individuals worldwide has risen, and Saudi Arabia is not excluded. Rising long-life expectancy may jeopardize employees' pensions and reduce the chances of adequate earnings and a decent life after retirement. Moreover, the number of employees, who have paid into pension funds and are now retired, has increased, indicating that pension funds are expected to decrease. Apart from the above, the level of financial literacy in Saudi Arabia was substandard. Therefore, the ultimate objective of this research is to examine the measurable factors that could impact employees in their financial planning for retirement (FPR). These factors comprise the employee's financial literacy (FL), financial risk tolerance (FRT), and cultural factors based on the CWO model. Moreover, this study aims to investigate the mediating roles of culture in their relationship with financial planning for retirement. Primary data was collected during the COVID-19 pandemic from mid-July 2020 until the end of January 2021 using a non-probability convenience sampling approach involving 525 participants. The Structural Equation Modelling (SEM) technique was used to analyze the data. To determine the type of study variables, either a formative or reflective model of Confirmatory Tetrad Analysis (CTA-PLS) was used. The results show the significant influence of basic FL, FRT, and culture on FPR. Moreover, it shows the critical role of culture among those with advanced FL and FRT. Previous studies have examined FL and FRT in FPR without considering the effect of culture as a mediator. [ABSTRACT FROM AUTHOR]

This study aims to examine the effect of spatial literacy and financial planning by using household behavior as a mediator. The testing uses a mediation process using Smart PLS 3.0. Respondents were collected using an online survey using a simple random sampling technique. The number of respondents used in this study was 102 respondents. Based on the results of data processing, financial literacy on financial resilience is not supported. Meanwhile, the effect of financial literacy on financial resilience by mediating household behavior is accepted. The hypothesis of financial planning on financial resilience is not supported. However, the effect of financial planning on financial resilience with household behavior as mediation is supported. This research provides theoretical and practical contributions which will also be discussed further in this paper.

Retirement is an important phase of life, bringing with it many challenges in terms of adjustments and changes in lifestyle, self-esteem, friendships, and vocation. In the context of Bangladesh, most of the employees retire after working for many years, therefore their bonding with their work is strong and their life is meaningful once they were attached to work. Therefore, retirement impels to making changes in daily routine, bringing disengagement from work and the individual may enters into a state of devaluation. Retirement may offer an opportunity to establish a more preferable rhythm in life, but, on the other hand, retirement may also lead to some social and personal challenges. The focus of this study is to review and assess the literature towords various dimensions of retirement planning. The literature is reviewed from various articles on retirement planning from various sources which are further synethesised to derive the interpretations. The findings and outcome of the study emphasises on the significance of retirement planning, the importance of financial literacy to smoothen the retirement planning and elements that contributes towards the successful life after retirement. [ABSTRACT FROM AUTHOR]