Abstract
COVID-19 pandemic has caused the economic shock to Malaysia. Certain number of individuals also suffered from job loss and pay cut throughout the COVID-19 pandemic. These situations might influence people’s perception on the importance of financial education. This study aims to investigate how the parent’s financial knowledge and financial planning ability affect their perception on the importance of financial education for the children. The findings of this study also indicated that parent with higher financial knowledge and greater ability in financial planning perceived that financial education is important to their child. Due to the preventive measure implemented during COVID-19 pandemic, parents supposed to have more time to stay together with their child. Thus, parents should grab this opportunity to guide their child in learning financial knowledge and demonstrate to them the proper way in handling financial resources effectively.
Highlights
Malaysian were fighting against COVID-19 virus for more than a year
This results further support the Discussion This study investigates the potential factor that affect the parent’s perception on the importance of financial education during COVID-19 pandemic
After witnessed the negative impacts brought by COVID-19 pandemic, parents shall realize that financial education was crucial for their child or younger generation
Summary
Malaysian were fighting against COVID-19 virus for more than a year. Malaysia government implemented different phases of Movement Control Order (MCO) to curb the spreading of COVID-19 virus. MCO limited the movements of the individuals, and heavily affected the business performance of specific sector. The financial status of Malaysian has been challenged. 100,000 Malaysians loss their income during MCO (Tan et al, 2020). One out of three Malaysian experiencing pay cut during the COVID-19 pandemic (Sunil, 2020). These situations remind the Malaysian about the importance of financial wellbeing in this critical period. A proper financial education should be delivered to the students
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