Financial Planning Research Articles

The influence of financial technology, personality traits, and financial literacy on financial attitude, personal saving orientation, and family financial planning, moderated by financial quotient among naval families. “A study of Hera naval base, Timor-Leste”

Family financial planning is becoming more and more crucial, particularly in military environments where certain challenges can affect financial habits. The study looks at moderating role of financial quotient on the correlation between financial technology, personality traits, and financial literacy and family financial planning of naval families at Naval Base Hera. Although certain factors of financial behaviour have been studied before, how these factors are interrelated within military families is still unclear. This research seeks to fill this gap by employing a causal explanatory research method that analyze sources from 248 married Navy personnel through using a structural equation modeling (SEM) approach with Smart PLS. The findings paint a picture that where Fintech influences the financial behaviours of individuals and families, such traits for personality and financial literacy inform their attitudes and ever financial planning. Posted here, it is revealed that financial quotients have a moderate influence on the results of family financial planning. Thus, this research highlights the need to design and implement financial education interventions that incorporate technology support and improve the financial literacy of naval officers with policy implication for the authorities as well as other denominations in the teaching of financial education. This research fills this gap making a positive contribution in the understanding of financial management in military environment hence contributing to the informing of policies that foster better financial stability and well-being of families of soldiers serving in the navy.

Strategic Financial Planning for Long-Term Sustainability in Madrasah Aliyah

This study investigates strategic financial planning for long-term sustainability in Madrasah Aliyah Siti Mariam Banjarmasin. The objective is to analyze the institution's financial challenges, explore strategies for enhancing financial sustainability, and propose recommendations for effective financial management. The research employs qualitative methods, including interviews and observations, to gather data on financial practices, challenges, and strategies within the institution. The findings reveal significant challenges in allocating financial resources effectively, including dependence on Government funding and limited investment in critical areas such as infrastructure and staff development. However, the study also identifies promising strategies for improving financial sustainability, such as diversifying revenue streams through fundraising events and partnerships, optimizing resource utilization, and implementing prudent financial management practices. Based on these findings, recommendations are proposed to prioritize investments in key areas, enhance revenue diversification efforts, and foster a culture of financial responsibility within the institution. Overall, the study contributes to understanding strategic financial planning in educational institutions and provides practical insights for enhancing long-term sustainability in Madrasah Aliyah Siti Mariam Banjarmasin.

Assessing Entrepreneurial Readiness in Teacher Education Graduates for Future Success

Entrepreneurship education is increasingly recognized as essential for cultivating an entrepreneurial mindset among students. The College of Teacher Education (CTE) at Mariano Marcos State University (MMSU) has integrated the "Entrepreneurial Mind" subject into its curriculum to equip future educators with vital entrepreneurial skills. This study assesses the entrepreneurial competencies, attitudes, and intentions of MMSU-CTE graduates who completed this subject. This study evaluates key competencies such as opportunity recognition, innovation, risk management, and leadership, alongside graduates' perceptions of the subject's effectiveness. Data were collected from 150 graduates via a structured questionnaire online and analyzed using descriptive and inferential statistics. Results indicate high proficiency in opportunity recognition, resource management, and innovation, but moderate levels in risk management and financial planning, suggesting areas for curricular enhancement. While 65% of graduates exhibit positive entrepreneurial attitudes, only 50% have strong intentions to start a business, highlighting the need for additional support mechanisms like mentorship and funding. Graduates reported significant improvements in entrepreneurial skills and confidence, validating the subject's integration. The study underscores the importance of entrepreneurship education in non-business disciplines and recommends curriculum enhancements, support mechanisms, broader implementation, and longitudinal research to optimize entrepreneurial readiness and drive innovation.

Determinants of financial planning decisions for salaried individuals: Evidence from India

In the Indian context, financial planning for salaried individuals has gained increased importance due to economic fluctuations, rising living costs, and the need for robust retirement planning. Despite its importance, there is limited research on the specific factors that influence financial decision-making among salaried employees in India. Understanding these determinants is essential for developing effective strategies to enhance financial well-being among employees. This study explores the key factors influencing financial decision-making among employees, including financial goals, emergency savings, retirement planning, budgeting, financial confidence and literacy, financial stress, use of tax-saving instruments, income level, risk tolerance, and debt levels. A sample of 549 employees from diverse sectors in Uttar Pradesh participated in this research, highlighting the critical aspects of personal financial management that impact financial well-being. The study used a questionnaire-based survey to gather data on factors affecting financial decision-making. Descriptive statistics, correlation, and regression analyses were employed to identify significant predictors. The results reveal that financial literacy, access to resources, attitudes toward retirement planning, and cultural norms significantly influence financial decisions. Additionally, income level, job stability, and social support are crucial in shaping employees’ financial planning. The study recommends enhancing employees’ financial decision-making by offering financial education programs, budgeting tools, retirement planning assistance, debt management programs, tax planning workshops, financial counselling services, and employer match programs for retirement savings. These initiatives aim to boost financial literacy and confidence, enabling employees to make informed financial decisions and improve their financial well-being.

Pension funds in Colombia and implications: A bibliometric analysis from Scopus

This study delves into the dynamic landscape of pension funds in Colombia, examining both its current research status and practical implications. Understanding the state of pension systems is crucial for individuals' financial security and a country's overall economic stability, especially given factors such as an aging population and evolving socio-economic dynamics. By comprehensively analyzing scholarly publications on Colombian pension funds using the Scopus database, this research sheds light on key trends and contributors shaping policy formulation and financial planning. The analysis covers a period from 1987 to 2023, identifying 71 relevant articles through keyword searches and filters. Various metrics, including publication trends, citations, international collaboration, and authorship dynamics, were quantitatively assessed. The results reveal an annual growth rate of 5.37%, with research articles comprising 81.69%, review articles 7.04%, and other formats like books, book chapters, and conference papers making up 11.27% of the total documents. Notably, countries such as the UK, the USA, Spain, and Colombia emerge as key contributors to the literature. Among authors, Mesa-Lago, L., stands out as a significant figure, with one of the earliest publications on the topic. The findings underscore the growing importance of pension funds in Colombia, particularly in the context of fund performance research amid financial crises. The prevalence of international collaboration suggests a global interest in understanding and contributing to the development of Colombian pension systems. Furthermore, the study identifies research gaps, particularly in areas concerning the socio-economic impact of pension policies, providing a roadmap for future investigations. Policymakers, financial practitioners, and researchers can leverage these insights to inform strategic decision-making and address critical challenges in optimizing pension fund management in Colombia.

A STUDY ON WORKING WOMEN’S FINANCIAL DECISIONS IN BANGALORE NORTH

This study investigates the financial decision-making patterns of working women in Bangalore North, focusing on the factors that influence their personal finance management and investment choices. Through a combination of surveys and interviews, the research explores the impact of demographic variables such as age, education, income level, and marital status on financial decisions. It also examines the role of societal expectations, family responsibilities, and financial literacy in shaping their ability to make informed financial choices. The findings highlight both the progress and the challenges that working women face in achieving financial independence. Despite an increasing number of women participating in the workforce, many still encounter barriers to effective financial planning, including limited access to tailored financial products and a lack of comprehensive financial education. The study concludes by recommending policies and initiatives that aim to empower working women, enhance their financial literacy, and support their pursuit of financial autonomy. KEY-WORDS: Societal Expectations, Family Responsibilities, Financial Independence, Financial Planning, Demographic Factors, Empowerment, Gender and Finance, Workforce Participation

Funding Strategies used by Hispanic Churches in South Florida

The congregations in the United States need help with attendance. A decline in church membership results in a decrease in funds. This unfavorable effect on the institution's finances can affect the congregation's operations. This article seeks to assess and recommend a funding strategy for Hispanic Churches in South Florida. Correspondingly, Churches and other faith-based institutions require solid financial management to attain financial sustainment. Congregation administrators should focus on external and internal factors, financial planning, and developing and maintaining collaborations with external entities to grow their finances.

Personal Financial Management Training for Indonesian Migrant Workers in Hongkong

Hong Kong became the country most frequently chosen by Indonesian Migrant Workers (IMW) in 2021. The reasons that motivate IMWs to work in Hong Kong are the relatively high wages offered and the atmosphere of freedom. However, the departure of IMWs abroad has not significantly contributed to improving their quality of life. Observations made through various mass media sources (Dewi et al., 2022) concluded that many Indonesian Migrant Workers (IMW) still lack sufficient knowledge and understanding of financial dimensions or aspects. Therefore, education on the importance of financial management for IMWs is crucial. This is because the majority of IMWs do not yet possess adequate knowledge regarding financial management. The form of education is delivered through training aimed at teaching IMWs about the importance of financial planning. The materials provided include budgeting, saving, budget tracking, and investment, which are essential for effective personal financial management. It is hoped that this training will equip IMWs with the necessary knowledge to make sound financial decisions. After the training sessions, a post-test was conducted using the same procedure as before, where participants were given a questionnaire with 10 multiple-choice questions. The post-test results showed that, compared to the pre-test, the proportion of correct answers for each question was significantly higher. On average, the proportion of correct answers for all questions was above 90%. Thus, it can be concluded that the provision of training and assistance on investment and personal financial management was effective in improving the financial literacy of IMWs in Hong Kong.

MANAJEMEN KEUANGAN KELUARGA PEDAGANG DI PASAR SIBANG GEDE

The income of traders depends on uncertain sales income every day. To be able to manage family finances, management, and planning are needed to ensure that expenses are not greater than income. This study aims to examine the understanding of financial management, the application of financial management, and the obstacles to financial management for traders in the Sibang Gede market. This study's data and information collection methods included interviews using questionnaires and documentation. The analysis method used is qualitative descriptive analysis. The results of this study indicate that traders in the Sibang Gede market do not understand financial management. Traders choose to record income daily, do not apply long-term planning, apply short-term planning, and own assets in the form of houses and motorbikes. Traders in the Sibang Gede market do not make financial plans, do not record family finances in books, and do not compile budgets. Traders do not have investments, and all traders in the Sibang Gede market choose to use banks as a place to save. The obstacles Sibang Gede market traders face are income instability caused by fluctuations in consumer demand, traders not being accustomed to making financial reports, and traders not being familiar with modern finance.

Creating financial mechanisms for enacting the monotowns revitalization strategy

The article provides an analysis of a study focused on crafting financial mechanisms to enact the monotown revitalization strategy. Monotowns marginalized within the economic development landscape encounter multifaceted challenges, including demographic decline, elevated unemployment rates, and degradation of social infrastructure. Consequently, the formulation of efficient financial mechanisms emerges as imperative for their resurgence. The objective of this study is to formulate efficient financial mechanisms to facilitate the implementation of monotown revitalization strategies. This entails a comprehensive examination of the existing conditions within monotowns, encompassing the identification of pertinent challenges and potential avenues for development. Additionally, the study aims to devise financial strategies and instruments geared towards fostering both economic advancement and social progress within these locales. Scientifically, the significance of this research resides in the conception of novel financing paradigms tailored specifically for monotowns, thereby fostering their sustainable development. Practically, the research holds relevance in its potential application, as the developed mechanisms stand poised for utilization by governmental and municipal entities in the execution of monotown revival initiatives. Consequently, this investigation contributes substantively to the realm of regional development management and financial planning. Its findings are poised to offer utility to governmental bodies, corporate entities vested in the enhancement of regional infrastructural frameworks and the rejuvenation of monotowns.

Aging With Emerging Social Welfare and Disappearing Filial Piety: Chinese Migrant Workers' Pathways Toward Financial Retirement Planning.

This study examines the pathways and mechanisms linking Chinese migrant workers' migration experiences and their financial retirement planning. Using a mixed-methods approach with 1083 surveys and 32 interviews, this study finds that having a good financial status and social support system and maintaining a hopeful attitude toward retirement are direct pathways toward good financial retirement planning. Good health and hope for retirement are further enhanced by a good financial status and social support. Conversely, poor health and negative employment experiences are linked to poor financial retirement planning. The qualitative findings provide a contextual understanding of the pathways identified in the quantitative analyses. Migrant workers often face a dilemma between self-reliance for retirement and relying on filial piety. These findings apply not only to Chinese migrant workers but also to all migrant workers with limited access to healthcare and public pensions for retirement.

Pendamping Literasi Keuangan dan Inovasi Produk Untuk Optimalisasi UMKM Sapu Lidi Melalui Program KKN di Desa Perkebunan Maryke

Community Service (KKN) in Perkebunan Maryke Village, Kutambaru District, Langkat Regency, was carried out by students of the Muhammadiyah University of North Sumatra from 12 to 27 August 2024. This program aims to improve the financial literacy of the community and optimize the potential of the broomstick MSME which is the main source of income for village residents. Through MSME mentoring activities, students conduct value chain analysis to improve production efficiency, product innovation, and more effective marketing strategies. This mentoring aims to increase the competitiveness of MSMEs and shorten distribution channels to a wider market. In addition, the financial literacy program in collaboration with Bank Sumut is also provided through workshops to teach the community, especially the younger generation, about the importance of saving, financial planning, and personal budget management. The results of this activity show an increase in community understanding of financial literacy and MSME management, as well as the creation of new innovations in broomstick products. This activity not only has an impact on increasing residents' income, but also strengthens social cohesion and sustainable village economic development. This program is expected to be a model for community empowerment in other rural areas.

Finance Planning for Small Innovation Companies

Finance Planning for Small Innovation Companies

Defining the Need for Services for Patients at High Risk of Breast Cancer at a Safety-Net Hospital: An Approach to Narrowing the Disparities Gap.

The National Accreditation Program for Breast Cancer (NAPBC) standards were recently revised to promote breast cancer (BC) risk assessment and subsequent referral for high-risk services. This project sought to estimate the proportion of patients at high risk for BC in the authors' safety-net hospital system, gauge patient interest in high-risk services, and define resources for program development. Women presenting for breast imaging during 2 weeks in 2023 were surveyed. Thirty-five patients with a history or diagnosis of BC were excluded. The Tyrer-Cuzick (TC) model version 8 was used to calculate BC risk. High/intermediate risk was defined as a 10-year risk of 5% or more, a lifetime risk of 15% or more, or both. The criteria for genetic counseling and testing referral were based on National Comprehensive Cancer Network guidelines. A total of 257 patients had a TC risk assessment showing 14.8% (n = 38) with a 10-year BC risk of 5% or more (consideration of endocrine therapy), 6.2% (n = 16) with a lifetime BC risk of 20% or more (qualifying for annual screening MRI), and 10.5% (n = 27) with a lifetime BC risk of 15% or more (consideration of high-risk screening). The criteria for genetic counseling/testing were met by 61 (23.7%) of the 257 patients. Overall, 31.5% (n = 81) qualified for high/intermediate-risk screening, risk reduction, and/or genetic assessment/testing, 92.8% of whom were interested in referrals for additional information and care. In the authors' community, almost one third of patients undergoing breast imaging qualify for BC high-risk assessment and services. The majority of the patients expressed interest in pursuing such services. These data will be used in financial planning and resource allocation to develop a high-risk program at the authors' institution in line with NAPBC guidelines. They are hopeful that these efforts will improve oncologic outcomes and survival from BC in their community.

Comprehensive Budgeting Frameworks And Financial Performance Of Smes In Bayelsa State, Nigeria

This study investigates the impact of a comprehensive budgeting framework on the financial performance of Small and Medium-sized Enterprises (SMEs) in Bayelsa State, Nigeria. Given the critical role of SMEs in the Nigerian economy, effective financial management practices, particularly budgeting, are essential for their sustainability and growth. The study adopts a quantitative research design, utilising secondary data obtained from existing sources such as financial statements, annual reports, and industry databases from 2017-2021. The analysis was conducted using both descriptive and inferential statistics, including correlation and regression analysis. The findings reveal a significant positive relationship between the comprehensive budgeting framework and key FP indicators, such as profitability, RG, and ROI. Specifically, the study demonstrates that SMEs with more structured and thorough budgeting practices have more tendency to experience higher PR, sustained RG, and higher ROI. The regression analysis confirms that a CBF significantly influenced FP, underscoring its importance in financial planning and control. The study contributes to the existing literature by providing empirical evidence on the benefits of comprehensive budgeting for SMEs in a developing country context, where financial management practices are often less formalized. It highlights the need for SMEs to adopt structured budgeting processes that include regular reviews, adjustments, and alignment with business objectives. By doing so, SMEs can enhance their financial resilience, better navigate economic challenges, and achieve long-term success. The research recommends that policymakers and SME support organizations should promote the adoption of CBFs among SMEs as a strategy to improve their financial performance and contribute to broader economic growth.

Shifting risks back to the state? Flood insurance and responsibility in the face of climate change in Australia

In Australia, with its neoliberal policy tradition, responsibility for dealing with severe and extreme weather events such as floods and bushfires has mainly been left to individual households and insurance markets. With the growing number of extreme weather events, existing institutional arrangements and behavioral patterns are challenged. Individuals have difficulties to reliably assess and manage knowledge about such climate change related hazards. In response to the growing uncertainties of rising costs due to increasing flooding and bushfire events, insurers raise their premiums for house and contents insurance or even withdraw from insuring high-risk areas altogether. Based on semi-structured interviews with 26 (re)insurance, legal, financial, and urban planning experts conducted in 2022, the study provides empirical insights in the still under-researched question of how responsibilities are understood and attributed amongst different stakeholders in the context of changing climate. The findings show that extreme weather events and the individualization of risk lead to new, complex patterns of sharing responsibilities amongst banks, insurers and the different governmental levels with a stronger emphasis on state regulation.

Primjena ekspertnih sustava u građevinarstvu

Expert systems represent “IF-THEN” algorithms that integrate human expert knowledge to solve complex problems. This area of research focuses on finding solutions to challenging situations that are often difficult to resolve using traditional methods. Expert systems have widespread applications in the field of construction. The paper presents some of these applications, including their use in building maintenance, inspection of water and sewage systems, geotechnical engineering, road maintenance, and the selection of appropriate construction materials. Artificial neural networks are effective in optimizing financial plans, estimating the duration of activities, assessing the productivity of work teams, and selecting contractors. Genetic algorithms find their application in resource allocation, selecting optimal solutions for task scheduling and project costs, as well as in building maintenance, while fuzzy logic aids in risk analysis, project management, and cost estimation. Expert methods can be integrated into information systems to provide consistent information necessary for the effective management of construction projects. A review of published papers on the application of expert methods in construction shows that these methods are already significantly represented across all sectors of the construction industry, but also indicates that there are still substantial opportunities for their future application.

PENGELOLAAN KEUANGAN DAN DAMPAKNYA TERHADAP KEBERLANJUTAN USAHA MIKRO, KECIL, DAN MENENGAH DI KABUPATEN SEMARANG (Studi Kasus pada Toko Wahana Parfum Karangjati)

The purpose of this research is to examine the complexities of financial management and their impact on the survival of micro, small, and medium-sized enterprises (UMKM) in Semarang district, with special emphasis on Wahana Parfum Shop in Karangjati. Although UMKM continues to flourish in Semarang district, many are facing obstacles in managing their finances effectively, as only a small fraction are active and skilled to manage their financial affairs. Conversations with business owners have found that the main challenge lies in their lack of understanding of the benefits of financial statements and incomplete financial controls. Besides, perfume entrepreneurs show a lack of confidence when comparing financial plans to real life circumstances. It underscores the need to overcome gaps in financial literacy and financial management to improve the performance and resilience of SMEs in the region. Recommendations include offering training and education to enhance understanding of financial management, maximize the use of business control, and cultivate a deeper understanding of the principles of finance management.

Forecasting financial stability in SMEs: A comprehensive analysis of strategic budgeting and revenue management

Small and medium-sized enterprises (SMEs) are vital contributors to global economies, but they often face unique financial challenges that threaten their long-term stability. This review presents a comprehensive analysis of forecasting financial stability in SMEs, focusing on strategic budgeting and revenue management as key pillars. Strategic budgeting plays a crucial role in aligning financial plans with business goals, managing risks, and adapting to market changes. Techniques such as zero-based budgeting, activity-based budgeting, and rolling budgets offer SMEs flexibility in allocating resources and ensuring optimal cash flow management. Meanwhile, effective revenue management involves the use of pricing strategies, sales channel diversification, and customer segmentation to optimize revenue streams and improve profitability. The interplay between strategic budgeting and revenue management is critical for creating dynamic forecasting models that help SMEs anticipate financial challenges and make informed decisions. By integrating both strategies, SMEs can better manage risks, enhance financial predictability, and achieve long-term sustainability. This review also explores the role of technological tools, such as financial software and predictive analytics, in supporting financial decision-making processes. Tools like customer relationship management (CRM) systems and AI-driven forecasting platforms enable SMEs to optimize revenue potential and refine budgetary practices. The review provides recommendations for SMEs to implement best practices in financial planning, suggesting regular budget reviews and proactive revenue management strategies to respond to market fluctuations. By leveraging strategic budgeting and revenue management, SMEs can enhance their financial resilience and improve their capacity to navigate economic uncertainties. The review concludes with insights into emerging trends in financial forecasting, emphasizing the importance of continuous adaptation to maintain financial stability.

Toolkit to Examine Lifelike Language v.2.0: Optimizing Speech Biomarkers of Neurodegeneration

Plain Language SummaryNeurodegenerative disorders (NDs), such as Alzheimer’s and Parkinson’s disease, are a leading cause of disability, caregiver stress, and financial strain worldwide. The number of cases, now estimated at 60 million, will triple by 2050. Early detection is crucial to improve treatments, management, and financial planning. Unfortunately, standard diagnostic methods are costly, stressful, and often hard to access due to scheduling delays and availability issues. A promising alternative consists in digital speech analysis. This affordable, noninvasive approach can identify NDs based on individuals’ voice recordings and their transcriptions. In 2023, we launched the Toolkit to Examine Lifelike Language (TELL), an online app providing robust speech biomarkers for clinical and research purposes. This paper introduces TELL v.2.0, a novel version with improved data collection, encryption, processing, storing, download, and visualization features. First, we explain the app’s basic operations and its possibilities for online and offline data collection. Second, we describe its language survey, which covers questions about demographics as well as language history, usage, competence, and difficulties. Third, we describe TELL’s speech tests, which assess key clinical features. Fourth, we outline the app’s functions for analyzing, visualizing, and downloading data. We finish by discussing the main challenges and future opportunities for TELL and the speech biomarker field. With this effort, we hope to boost the use of digital speech markers in medical and research fields.