Financial Education Research Articles

Women's Economic Transformation: A Literature Review on Empowerment through Entrepreneurship and Financial Inclusion in Pekalongan, Indonesia

This systematic literature review (SLR) explores factors influencing women's empowerment through entrepreneurship and financial inclusion in Pekalongan. Key elements supporting or hindering women entrepreneurs include access to capital, entrepreneurship education, training, and robust support networks. Financial inclusion, encompassing banking services, microcredit, and financial education, is crucial for enhancing women's economic capacity and independence. The research employs a structured SLR methodology, using databases like Scopus to identify relevant studies from the past decade. The data collection involves keyword identification, literature search, screening, full-text review, and data extraction, followed by thematic analysis and coding. The findings reveal that well-designed government and NGO programs significantly impact women's economic and social well-being, with success dependent on local context and sustained support. Policy recommendations for Pekalongan include increasing access to financial services through microcredit and entrepreneurship training, expanding financial education programs, strengthening support networks via women's business groups and mentoring, and addressing socio-cultural barriers. Tailored policies and programs that consider the local context are essential for effective implementation. This study's comprehensive approach, combining women's entrepreneurship and financial inclusion within Pekalongan's context, provides practical recommendations for policymakers and enriches existing literature, offering a framework for future research and policy development in similar socio-economic settings.

Does use of formal and informal credit reduce poverty in rural Mexico?

AbstractMotivationDespite efforts to reduce poverty, both income and multidimensional poverty continue to be high in Mexico, especially in rural areas. Most studies concerned with the effect of credit use on poverty analyse formal credit, but little is known about the impacts of different types of credit on poverty.PurposeWe investigate the impacts of the use of formal credit and informal loans obtained (primarily) for productive and investment purposes on multidimensional and income poverty of rural households in Mexico.Approach and methodsWe use data from the 2013 and 2015 CONEVAL Surveys of Rural Households in Mexico, representative of rural communities with fewer than 2,500 inhabitants, to investigate the impact of credit on poverty. We apply inverse probability of treatment weighting (IPTW) to account for differences between users of formal credit, users of informal loans, and non‐users of credit.FindingsBoth formal and informal credit usage reduce poverty in rural Mexico, generally with clearer impacts on moderate rather than extreme poverty. Informal credit appears to have largely reached households that could most benefit from it. Broader access to formal credit would potentially further reduce poverty.Policy implicationsPublic policies to reduce rural poverty should promote a greater access to the formal financial sector. Including vulnerable low‐income rural households in formal finance should be accompanied by financial education.

Examining the challenges of tertiary teaching and learning in the accounting discipline within KwaZulu-Natal South Africa

Financial accounting poses significant challenges for students at tertiary institutions, often resulting in failure, extended graduation timelines, or dropouts, particularly in their first year of study. This study aimed to identify the obstacles encountered in teaching and learning accounting education within South African universities. The research, which employed a qualitative approach, focused on understanding the challenges faced by students in mastering financial accounting at the university level and the underlying causes. Twenty accounting learners from four public tertiary institutions in KwaZulu-Natal were interviewed using open-ended, structured questions via MS Teams. Results highlighted several key themes, including the transition from high school to university, learning strategies and the influence of high school accounting. Challenges identified encompassed the difficult nature of the subject, a shortage of qualified accounting educators, insufficient support staff, poor infrastructure conditions, inadequate classroom facilities and the absence of practical training environments. This study contributes to financial accounting higher education in South Africa by introducing a novel methodological approach, utilising a textual collage to represent data. By merging visual and language-based approaches, the collage offers a fresh perspective on educational research in accounting. Moreover, it contributes to the academic literature within the discipline, aiming to mitigate student dropout rates and prolonged graduation timelines in accounting programmes. Overall, this research endeavours to enhance pedagogical practices and support mechanisms within accounting education, fostering a conducive learning environment for students.

FINANCIAL LITERACY AND FINANCIAL INCLUSION FOR WOMEN EMPOWERMENT

Financial inclusion is the expanding outreach of banking or financial services at an affordable cost to a vast section of disadvantaged groups of society which may provide them a financial cushion for their sustenance as well as social empowerment. In India where women constitute 46% of total population majority of them are denied to opportunities and rights due to their financial dependence. Financial inclusion is much needed for women as it helps in increasing amount of regular savings along with enabling women to pay for micro insurance and obtain credit. It also helps in increasing income from employment and micro enterprise, usage of mainstream banking services that offer appropriate designed products and service. In other words, financial inclusion makes women informed about their role and right in economic development to improve access to markets and other information for overall empowerment. By helping women to meet their practical needs, micro finance may help women to gain respect and achieve more in their socially defined roles along with wellbeing. This paper mainly deals with-Importance of women’s financial inclusion, Women’s specific financial needs in respect to men’s, Functions of finance and role of women, Growth, development and financial inclusion, financial literacy as a tool for women empowerment, Institutional framework in India for financial education, Economic and socia development of women and financial inclusion, Gender inequality and lack of access to financial services, Certain issues and aspects related with financial inclusion and women empowerment. The paper calls for women empowerment by means of effective financial inclusion and financial literacy by studying the relationship between women empowerment and financial inclusion.

The effect of online class attendance on academic performance in finance education

This study presents new evidence on how attending class –particularly synchronous virtual lessons– affects academic performance in higher education. We analyse data from over 500 undergraduate students enrolled in four finance courses at the University of Murcia, a Spanish public university where attendance is non-mandatory. After controlling for the student's previous admission grade, academic experience, and demographic factors, the results show that online class attendance significantly increases the likelihood of taking the exam and improves the success rate as well as the final grades. Moreover, when the analysis distinguishes between attending lectures and practical lessons, there is a similar (positive) effect on student performance.

Literacy and Financial Education: Private Providers, Public Certification and Political Preferences

AbstractFinancial education can influence the level of financial literacy. In many countries public authorities implement financial education policy by means of ex ante certification of both private and public providers of education activities. This article uses political economy, educational marketing and text analysis as complementary tools to offer a positive analysis of such setting. Being financial education a credence good and given the key assumption that financial literacy is a country state–contingent endowment that deteriorates, as a consequence of innovation, the third-party certification can be considered as a strategic governance solution. Yet, when a public agency acts as third-party certifier, political and bureaucratic incentives shape its action. In particular, political activism in financial education can be motivated by financial instability worries. Such theoretical relationship is empirically confirmed applying text analyses, and using financial education narrative as a proxy for activism both for the politicians of the European Parliament and the bureaucrats of the ECB in the period 1997–2024.

Financial literacy and investment returns: The moderating effect of education level

The purpose of this research is to explore the far-reaching implications of financial literacy for investment returns. Employing a large-scale sample survey in China during 2011 to 2021, we find strong evidence that financial literacy enhances investment returns. Moreover, this positive relationship is enlarged by the education level. This research highlights the importance of financial literacy and education in facilitating investment returns. The finding of this research provides valuable guidance for individuals and policymakers.

Pengaruh Pendapatan, Pengetahuan, Promosi dan Harga Emas Terhadap Keputusan Mitra Bank Berinvestasi Emas di BSI Kota Jambi

This study aims to analyze the influence of income, knowledge, promotion, and gold prices on the investment decisions of bank partners in investing in gold at Bank Syariah Indonesia (BSI) in Jambi City. The population used in this research consists of BSI partners who invest in gold in Jambi City, with a sample of 90 respondents. It can be concluded that the respondents in this study are predominantly female, totaling 63 respondents, while males amount to 27 respondents. Based on age, the majority are aged 30-39 years, with 40 respondents. In terms of education level, 70 respondents hold a bachelor's degree. Data collection techniques employed include questionnaires, documentation, and interviews. The data analysis method used is multiple linear regression analysis. The results show that all examined variables, both internal factors (income and knowledge) and external factors (promotion and gold prices), significantly influence gold investment decisions. The coefficient of determination (R²) of 0.827 indicates that 82% of the variation in the dependent variable can be explained by the variables studied. This research provides a broader understanding of the factors influencing gold investment decisions and suggests strategies for more effective promotion and better financial education.

Appropriation of Economic and Financial Education For The Empowerment of Rural Women Victims of The Armed Conflict in The Department of Cauca

Appropriation of Economic and Financial Education For The Empowerment of Rural Women Victims of The Armed Conflict in The Department of Cauca

Pendampingan Pengelolaan Keuangan dan Manajemen Usaha Pada Bisnis Rumah Makan Daerah Cikarang Selatan

A business can survive if it has good financial knowledge. Financial management and business knowledge have always been the foundation. Along with the times, especially in the digitalization era, it is unfortunate when business people ignore the financial aspects and optimization of their business management. When the company's human resources are able to adjust to the changing times in industry 4.o, then financial management can be done. The purpose of this activity is to assist and provide consultation to business owners in one of the nasi padang restaurants in Cikarang. We come from an environment where business people do not know much about financial education and how to build a business so that it can grow and adapt to digital developments, as well as the lack of training and education provided for business people, especially for micro businesses. The focus of this community service activity is to assist business actors from business management to finance, so as to maximize the ability of their human resources, which is very much needed by business actors who have high competitiveness in this digital era. In the end, it is expected to provide solutions that allow business actors to optimize all business activities in increasing profits and sales, so that the business can survive and develop.

Literasi Perbankan Syariah Untuk Meningkatkan Akselerasi Inklusi Keuangan (Studi pada Bank Syariah Indonesia (BSI) KCP Probolinggo)

This research aims to analyze the literacy used by syariah banking in increasing the acceleration of financial inclusion at BSI KCP Probolinggo. This research explores the impact of the role of syariah banking literacy on accelerating financial inclusion, in the context of inclusive and sustainable syariah banking. This topic was chosen to fill the gap in understanding the contribution of syariah banking literacy to the development of financial inclusion, which is a crucial aspect in building a sustainable syariah financial institutional environment. The qualitative approach used in this research is a case study type. The selection of objects at BSI KCP Probolinggo was based on considerations because the bank is one of the syariah financial institutions that plays an important role in the development of syariah finance in the Probolinggo area. The techniques used to collect research data consist of in-depth interviews, participant observation, and documentation. Where the research data consists of primary data obtained from several research informants, namely the director of BSI KCP Probolinggo, three employees of BSI KCP Probolinggo, five customers of BSI KCP Probolinggo. Meanwhile, secondary data was obtained from national and international journals that were relevant to research. The data analysis techniques used consist of data reduction, data display, and drawing conclusions. The research results show that syariah banking literacy in increasing financial inclusion is carried out by providing financial education, holding promotions and marketing, and conducting outreach through various media. Syariah banking literacy has a significant impact on increasing financial inclusion.

Financial Literacy, Financial Education and Financial Experience: Conceptual Framework

Low levels of financial literacy continue to persist around the world with women, the poor, lowly educated groups and the youth possessing the least levels of financial literacy. Research has shown that both financial education and financial experience can help boost levels of financial literacy. Despite this, there remains no conceptual framework that shows how financial education and financial experience can be used to boost levels of financial literacy. The purpose of this study is to propose a conceptual framework that links financial literacy, financial education, and financial experience. This paper is based on a literature review of journals on financial literacy, financial education, and financial experience that were published on both Google Scholar, Semantic Scholar, and Scopus from 2018 to 2023. Variables that emerged from the literature review were used to construct a conceptual framework. The findings of this study reveal that financial education and financial experience can be used to enhance financial literacy levels. Thus, it can be concluded that both financial education and financial experience can help to improve levels of financial literacy among individuals and various groups.

A tie strength framework for improving the poor asnaf students’ normative commitment and behaviour

Purpose This study aims to examine the relationship between tie strength and poor asnaf student’s normative commitment and its impact on behaviour. Design/methodology/approach A sample of 129 poor asnaf students participated in this study. SMART-PLS 3.2.8 was used to analyse the data. Findings The findings show that the tie strength dimension (trust, emotional intensity, mutual confiding and relational exchange) positively relates to poor asnaf student’s normative commitment. Also, the result shows that poor asnaf students’ normative commitment is positively related to recipient behaviour. Research limitations/implications This study focuses on poor asnaf students receiving zakat financial education aid. Practical implications The findings provide valuable information on the factors that encourage poor asnaf students’ normative commitment. Related parties, such as the zakat institution, could use these findings to plan further action to enhance the poor asnaf student’s normative commitment and behaviour. Originality/value The study showed that the social tie strength framework could be used to determine the variables affecting poor asnaf student’s normative commitment and behaviour.

Role of Financial Literacy in Household Investment Decisions in Iraq

Purpose: The aim of the study was to assess the role of financial literacy in household investment decisions in Iraq. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: The study indicated that households with higher levels of financial literacy tend to make more informed and effective investment choices, which lead to better financial outcomes. These households are more likely to participate in financial markets, diversify their investments, and utilize a broader range of financial instruments, which helps in mitigating risks and enhancing returns. Financially literate individuals are also more adept at understanding complex financial products, assessing investment risks, and planning for long-term financial goals such as retirement. Conversely, a lack of financial literacy can result in poor financial decisions, leading to lower participation in the stock market, inadequate savings, and suboptimal investment portfolios. Thus, enhancing financial literacy is essential for empowering households to make sound investment decisions, ultimately contributing to greater financial stability and wealth accumulation. Implications to Theory, Practice and Policy: Behavioral finance theory, portfolio theory and agency theory may be used to anchor future studies on assessing the role of financial literacy in household investment decisions in Iraq. In terms of practical recommendations, developing and implementing targeted financial education programs is essential. These programs should focus on improving specific aspects of financial literacy relevant to investment decisions. From a policy perspective, advocating for policies that support the integration of financial literacy education into school curricula at all levels is essential.

Digital Compulsive Buying: A New Sequel of The Pandemic?

Objective: The objective of this study is to investigate digital compulsive buying, aiming to understand its impact on mental health and economic well-being post-pandemic. Theoretical Framework: This section presents the main concepts and theories underpinning the research. Theories of consumer behavior and the influences of marketing and culture are highlighted, providing a solid foundation for understanding the research context. Method: The methodology adopted for this research comprises a systematic review of the phenomenon. Data collection was conducted through the analysis of previous studies and the evaluation of sociodemographic variables such as age, gender, and socioeconomic context. Results and Discussion: The results obtained revealed that digital compulsive buying is related to emotional and social factors and has a significant impact on mental health. In the discussion section, these results are contextualized in light of the theoretical framework, highlighting the identified implications and relationships. Research Implications: The practical and theoretical implications of this research are discussed, providing information on how the results can be applied in marketing and public health. These implications could encompass the need for emotional and financial education. Originality/Value: This study contributes to the literature by providing a systematic review of the impact of digital compulsive buying post-pandemic. The relevance and value of this research are evidenced in how the results can impact the field of marketing and mental health.

South Dakota

The state of P-12 and higher education funding in South Dakota for fiscal year 2022–2023 is provided. Descriptions of current trends in statewide funding priorities, changes or modifications to state funding formulae, nontraditional funding issues in the state (such as vouchers, charter, and virtual schooling), and critical issues in education finance in the state are discussed.

Minnesota

The state of Minnesota’s current biennial education budget including changes from the newly adopted FY24–25 Legislative Budget. The P–12 education budget saw a 17% increase due to a state surplus of $17.5 billion. Descriptions of current trends in Minnesota's funding priorities, modifications to state funding formula, pressing issues in education finance, and human resources changes are discussed.

West Virginia

The state of P-12 and higher education funding in West Virginia for fiscal year 2022–2023 is provided. Descriptions of current trends in statewide funding priorities, changes or modifications to state funding formulae, nontraditional funding issues in the state (such as vouchers, charter, and virtual schooling), and critical issues in education finance in the state.

Factors influencing the relationship between intention and behavior of using Fintech: Empirical evidence in Vietnam

This study focuses on evaluating factors that impact the relationship between intention and behavior of using fintech. Data in the study were collected from 351 observations during the period from September 2023 to December 2023, using linear structural modeling (SEM) to test hypotheses, including the relationship of all potential variables. The results show that Financial Knowledge (FL) is a moderating factor in the relationship between Intention (IT) and Fintech Usage Behavior (UFB), and Financial Self-Efficacy Belief (FSE) is Mediating factor in the relationship between Financial Education (FL) and Fintech Usage Behavior (UFB). In addition, the moderating role of Facilitating Conditions (FC) in the relationship between Intention to Use (IT) and Fintech Usage Behavior (UFB) is not statistically significant. We give some recommendations such as minimizing cybersecurity risks or providing financial literacy training for users.

Exploring the Impact of Conformity on Impulsive Buying: Implications for Counseling Practices

Given the increasing prevalence of impulsive buying behavior among football supporters, understanding the underlying social influences becomes crucial for effective intervention. This study examines the relationship between conformity and impulsive buying behavior among football supporters in Salatiga. Using a quantitative correlational design, data was collected from 106 participants via an online questionnaire distributed through social media. The findings reveal a significant positive relationship between conformity and impulsive buying, with 49.1% of participants exhibiting high conformity and 55.7% displaying high impulsive buying behavior. The effective contribution of conformity to impulsive buying was 82%, indicating that peer pressure and social dynamics significantly influence buying behavior. The study suggests that counselors should develop targeted interventions to help individuals manage conformity pressures, enhance self-awareness, and make more rational purchasing decisions. The research highlights the need for financial literacy education and supportive group counseling sessions to address the psychological and practical aspects of impulsive buying. However, the study's limitations include its focus on a specific demographic and potential biases in self-reported data, necessitating further research to generalize the findings.