Financial Skills Research Articles

Does cooperative membership facilitate access to credit for women farmers in rural Kenya?

Potential borrowers' demand for credit is restrained by agricultural risk, while microfinance institutions favor male over female farmers because the latter have no collateral. We investigate whether women's membership in cooperatives facilitates access to credit. Primary data from Kenya were used. Descriptive statistics, propensity score matching, and probit regression methods were applied. The results show that 78 % of the respondents did not apply for credit mostly because of high interest rates and being risk-averse; while 60 % of those denied credit were due to lack of collateral. The estimates indicate that joining cooperatives increases the probability of female farmers' access to credit; transparency in cooperatives' financial activities increases the probability of accessing credit by 72 %. Given the core role of cooperatives, there is a need for a favorable environment in which cooperatives can form, develop, and thrive. Cooperatives need support from the government and development agencies to buffer their financial and management capacities and skills training. Subsequently bolstering women farmers' participation in cooperatives.

Financial Literacy and Financial Well-Being among Working Professionals in Dolakha District

The study attempts to examine the influence of financial literacy on financial well-being, the purpose of study is to identify the most influencing factors of financial literacy on financial well-being and analyze the mediating role of financial self-efficacy on working professionals. The causal comparative research design was employed in the investigate the cause and effect of financial literacy on financial well-being. Data gathered from 229 respondents through structured questionnaires distributed via KOBO toolbox utilized convenience sampling. Quantitative analysis involved both descriptive and inferential statistics, employing the PLS-SEM method. Out of four determinants of financial literacy determinants considered for the study, financial attitude, financial experience, financial skills had significant impact on financial self-efficacy however, financial awareness did not have a significant impact. Further, the study results found that financial self-efficacy had a significant impact on financial well-being of working professionals in Dolakha district. The results establish the mediating role of financial self-efficacy. This study is limited to current and potential working professionals in Dolakha district, utilizing cross-sectional data, which may restrict generalizability. Nevertheless, the outcome of the study will assist all the stakeholders, including employers, policymakers, local governments in Dolakha district. The application of this study is extensive. The study’s findings will assist policymakers, local governments, employers and financial literacy researchers all stakeholder to protect the financial well-being of working professionals in Dolakha district. Similarly, improving the financial well-being of working professionals from rural part of Nepal can help reducing poverty by encouraging investing and fair economic growth. To the best of the author’s knowledge, this study is one of the earliest studies to financial literacy and financial well-being a study on working professionals in Dolakha district by using PLS-SEM and theory of planned behavior.

ANALISIS ATURAN ASOSIASI KESALAHAN STATISTIKA SISWA KELAS X-11 SMA NEGERI 10 SAMARINDA BERDASARKAN KRITERIA WATSON

Mathematics plays an important role in forming systematic thinking patterns, logic, and financial management skills. However, many students have difficulty in understanding mathematical concepts due to various factors, which affect the success of learning. This study aims to identify and classify common errors of class X-11 students of SMA Negeri 10 Samarinda in solving statistics problems using mixed quantitative and qualitative methods. solving statistics problems using mixed methods, namely quantitative and qualitative. Using the apriori algorithm with a minimum support of 20% and 80% confidence, four types of errors were found that were often made by students, namely incorrect data errors, procedural errors, missing conclusions, and skill hierarchy problems. Data analysis and interviews showed a strong correlation between these errors, where errors in data collection often lead to data manipulation and incorrect conclusions. To overcome this problem, the school has implemented more effective learning strategies, such as additional guidance, material adjustments, and contextual approaches. These strategies are expected to improve students' conceptual understanding, reduce errors, and improve academic achievement in statistics.

Emotional Education for Proper Money Management, Promoting Human Development

This study examines the relationship between emotional education and effective money management, with a particular focus on its impact on human development. It is proposed that the identification and proper management of emotions enables individuals to make more informed financial decisions and to create new economic opportunities. A review of the literature and an empirical analysis demonstrate that digital platforms can be effective in promoting educational content that addresses both emotional and financial backwardness in Mexico. The findings highlight the necessity of integrating emotional education into financial education programs to enhance the general well-being of the population. Furthermore, the “Puntoencomún” platform is presented as an innovative model to promote a positive vision of work and the development of emotional and financial skills.

The Influence of Capacity Building on Small-Scale Agro-Processors in South Africa: Lessons for Agricultural Extension Advisory Services

This paper examines capacity building from the perspective of business growth and success in small-scale agro-processing enterprises. Our analytical approach was underpinned by the inability of small-scale agri-enterprises to grow and succeed despite the South African government's support for capacity building through the economic empowerment programme initiative in the past three decades. The study was conducted in five of nine selected South African provinces (Gauteng, Limpopo, North-West, Free State, and Mpumalanga). This study was essential for developing an effective strategy for enhancing agri-business growth and success in South Africa. A concurrent mixed-methods research design was used, and data from 503 small-scale agro-processors was analysed using descriptive and multiple regression analysis techniques. The results revealed that capacity building (β = 0.274, p = 0.000) significantly influences the economic empowerment of small-scale agro-processors. Furthermore, the study showed that mentorship and technical and financial skills are critical types of capacity building that influence the economic empowerment of small-scale agro-processors in South Africa. It is recommended that all government or private stakeholders, including agricultural extension advisory services, invest in capacity-building programmes for small-scale agro-processors to achieve economic empowerment. Economically empowered small-scale agro-processors will significantly contribute to employment creation and better income distribution.

Student Organization Funds at A University: Utilization of Descriptive-Correlational Analysis to Determine Factors in Budgeting

Budgeting guarantees that an organization has enough resources to accomplish its objectives. There are various studies that have been published related to budgeting. The budgeting of student organization funds in university remains an understudied domain; thus, this research seeks to fill this gap by contributing to the existing body of knowledge while elucidating the allocation processes to enhance transparency and accountability. The objective of this study was to determine the factors affecting the budgeting of student organization funds in university in Philippines. The study utilized descriptive-correlational analysis supported by survey data gathered through a total enumeration of 16 student organizations, employing a hybrid (online and offline) data collection, identified a statistically significant and positively correlated linear relationship between financial-related factors and managerial-related factors. The study revealed that student organization officers have strong financial knowledge and skills. High scores in financial skills and budgetary planning escalate the effective management in achieving goals, aligning with functional leadership theory. However, there is a need for better training programs to address gaps, particularly in using budgets as forecasts. The study also found that improving interpersonal skills can enhance financial management, and the relationship between financial and managerial skills is consistently positive across different groups. Aside from a discussion of the findings considering the relevant reviewed literature, there are recommendations to academics and practitioners, as well as proposals for further study in this field. Along with these results, it is best for universities to consider integrating budget-related training and seminars if they want to have well- rounded student leaders who are indeed capable of leading and providing good-quality service to their fellow students.

Enhancing small business success through financial literacy and education

Financial literacy and education are critical components for the success and sustainability of small businesses. This paper explores the importance of equipping small business owners and their teams with comprehensive financial knowledge and skills. By understanding financial concepts, effectively managing finances, and making informed decisions, small businesses can improve their chances of long-term success and growth. Financial literacy involves the ability to understand and use various financial skills, including budgeting, investing, borrowing, and financial analysis. For small business owners, having a strong grasp of these concepts is essential for effective financial planning and management. Financial education programs tailored to small businesses can cover key areas such as cash flow management, financial statement analysis, tax planning, and strategic financial planning. One of the primary benefits of financial literacy is improved cash flow management. Small businesses often struggle with cash flow issues, which can lead to insolvency if not properly addressed. By understanding cash flow cycles, forecasting cash needs, and implementing effective cash management strategies, business owners can ensure they have sufficient liquidity to meet their obligations and invest in growth opportunities. Financial literacy also enables better decision-making. Business owners who are financially literate can analyze financial statements to assess the health of their business, identify areas for improvement, and make data-driven decisions. This includes making informed choices about financing options, investment opportunities, and cost management. With a solid financial foundation, small businesses can navigate economic uncertainties and adapt to changing market conditions. Tax planning is another critical area where financial literacy can make a significant impact. Understanding tax obligations and leveraging tax benefits can reduce the overall tax burden on the business. This allows small businesses to retain more of their earnings for reinvestment and growth. Furthermore, strategic financial planning, supported by financial literacy, helps businesses set realistic goals, allocate resources efficiently, and track progress. Financial education empowers business owners to develop long-term strategies that align with their vision and market dynamics. In conclusion, enhancing financial literacy and education among small business owners and their teams is vital for fostering success and sustainability. By equipping them with the necessary financial skills and knowledge, small businesses can improve cash flow management, make informed decisions, plan for taxes effectively, and develop strategic plans that drive growth and resilience in a competitive market.

PkM OF Enhancement Financial Literacy Through Training And Simulation Family Financial Management

Family financial management involves planning, implementation, monitoring, evaluation, and controlling family economic resources to optimally meet needs. Effective management skills are essential, as income levels do not always determine the sufficiency of needs. Families often face uncertain income sources. As the smallest unit supporting national development, the economic strength of families contributes to national growth. Therefore, this service focuses on enhancing family financial management skills through training. The target of this community service program is the residents of Waai Village, Salahutu District, Central Maluku Regency. The issues faced include a lack of knowledge about household economics, absence of financial records, and difficulties in calculating income from various sources. As a result, community members tend to incur debt to meet urgent needs and lack savings, leading to all income being spent on daily necessities. This program aims to provide the residents of Waai Village with knowledge and skills in family financial management to improve their welfare. The training materials include concepts and applications of family financial management.

Breaking barriers: unveiling motivations, challenges and policy recommendations for women’s entrepreneurship in Vietnam

PurposeThis study aims to explore the impact of social, financial and institutional factors on women’s entrepreneurship in Vietnam, emphasizing motivation’s role in addressing challenges. Women’s entrepreneurship holds economic significance, driving local economies and creating opportunities. Government efforts to support women entrepreneurs have increased, but research on this in developing economies, especially in Vietnam, is limited.Design/methodology/approachThe paper investigates women’s entrepreneurship in Vietnam, examining social, financial and institutional influences and emphasizing motivation in overcoming challenges. Using a qualitative approach, it conducts in-depth interviews with 28 female entrepreneurs, analyzing data thematically. Methodologically, the study uses purposive sampling, triangulation and member checking to enhance credibility.FindingsFindings reveal key motivations like financial incentives, self-achievement and social impact. These motivations empower women to overcome financial constraints, skill gaps, limited support and societal perceptions. This research guides women entrepreneurs to enhance success through learning, persistence, skill development and self-awareness.Originality/valueThis paper presents a novel exploration into women’s entrepreneurship in Vietnam, offering original insights into the interplay of social, financial and institutional factors, with a spotlight on motivational drivers. It provides unique perspectives on their motivations, challenges and support mechanisms. The study’s contribution lies in its comprehensive understanding of women’s entrepreneurship dynamics in a developing economy like Vietnam, offering valuable insights for policymakers, practitioners and academics alike. Its originality lies in its holistic approach and nuanced examination, enriching the discourse on women’s entrepreneurship in emerging

The Effect of Financial Literacy on Financial Management of Teachers and Employees in Islamic Boarding Schools

The primary objective of this study is to determine the influence of financial literacy on the financial management practices of teachers and employees at Pon-Pes Nabil Husein in Samarinda. This research employs a quantitative descriptive method, utilizing observation and questionnaires for data collection. The population in this study consists of teachers and employees at Pon-Pes Nabil Husein in Samarinda. A purposive sampling technique was used, selecting 63 samples from a total population of 142 based on specific criteria. The criteria for selection included teachers and employees who are permanent staff and have been employed for at least three years. The results of the study indicate that financial literacy significantly affects financial management. This is evidenced by the t-test results, where t_calculated (7.773) > t_table (2.982) and a significance level of 0.000 < 0.05. Therefore, the null hypothesis (Ho) is rejected, and the alternative hypothesis (Ha) is accepted. This conclusion confirms that financial literacy positively impacts the financial management of teachers and employees at Pon-Pes Nabil Husein in Samarinda. The findings of this study highlight the crucial role that financial literacy plays in enhancing financial management skills among educators and staff.

The Role of the New Media in Spreading the Culture of Volunteering in the Iraqi Society: Facebook as a Model

Volunteering is considered and continues to be the cornerstone of building society, spreading love, and fostering social cohesion among its members. This practice varies from time to time and from one community to another. Sometimes it decreases, and other times it increases. It can take the form of monetary donations or other charitable deeds. Volunteering is a humanitarian act closely tied to all the meanings of goodness and pure, righteous deeds for the sake of Allah. It is connected to the religious aspect, as Allah says: 'So whoever volunteers good, it is better for him. So volunteering has become a necessity among life's necessities due to its social message aimed at participation in building, developing, and strengthening the foundations of society. Consequently, the culture of volunteering has become an integral part of the cultures of developed societies, representing a system of principles, ethics, standards, and practices that encourage initiative and positive actions that benefit others (1). At the global level, volunteering has received increasing attention from the United Nations through its programs and institutions that provide assistance to the poor, marginalized, afflicted, and refugees. December 5th has been designated as International Volunteer Day as a tribute by the international organization to the significant role that volunteering can play in all areas of humanitarian and developmental work (2). In this research, the study indicates a significant increase in the number of donors among both young and adult individuals. The study seeks to shed light on the role of new media in promoting a culture of volunteering within Iraqi society, especially among the audience in Thi Qar province. The aim of promoting the culture of volunteering through new media platforms is to instill positive values of volunteering, encourage active participation in volunteer programs at the individual, institutional, and community levels, and extend this to regional and international levels. It emphasizes that volunteering is not merely about good intentions; rather, it has evolved into a professionally performed activity that employs new skills in management, finance, service delivery, and communication with others. The study emphasizes the importance of setting performance standards and evaluation criteria to develop, renew, and innovate new mechanisms for volunteering (3).

Challenges encountered by SMMEs in accessing bank credit: a case of Vhembe District Municipality

Policymakers and scholars universally accept and recognize the influence of small, macro, and medium enterprises (SMMEs) on stimulating economic growth and job creation. To succeed and prosper, SMMEs need to establish a sound financial management function; therefore, it is vital to investigate the financial challenges these firms are experiencing. The objective of this paper was, to investigate possible challenges that SMMEs experience when applying for credit from banks. The study sought to answer the main research question - ‘What challenges are encountered by SMMEs when applying for credit from banks? The study adopted a qualitative research methodology. The population used in this research was derived from SMMEs and banking officials in the Vhembe District Municipality area. Stratified random sampling was used to select a sample of 10 research participants. An interview guide was used to gather data from the participants; the data was analyzed using Atlas.ti. The results indicated that most SMMEs in the Vhembe district are not adequately supported, especially in the areas of financial resources, as well as in financial literacy skills and expertise. Specifically, this study identified that the credit application challenges faced by SMMEs are related to - lack of collateral security, lack of financial application education, complex bank credit access regulations, non-satisfaction of banks’ qualifying criteria, as well as stringent credit system, and documentation requirements.

Improved urban road network and small and medium enterprises’ financial performance: Evidence from Tanzania

This study assessed the impact of improved urban road network on financial performance of Small and Medium Enterprises focusing in Dodoma, Tanzania. The study employed a cross sectional research design where by a sample of 89 SMEs from the selected three wards in Dodoma city was used to draw the conclusion. Qualitative data collected through questionnaires were analyzed using content analysis while quantitative data analyzed using descriptive statistics and multiple regression analysis. The key findings from the study include: i) accessible roads to customers toward SME were having positive influence to SMEs performance ii) market accessibility by customers and consumers was the key factor in improving SMEs financial performance in Dodoma city and lastly, an effective time management and improved transportation of goods and services were positive related to the amount of sales revenue generated by SMEs. The conclusion is drawn to improve the urban road networks as among of the key factors in improving the performance of SMEs in Dodoma city by increasing sales and profit. It is therefore recommended that, the government and other stakeholders in the construction sector should continue to improve urban road networks and start offering basic business and financial management skills which would enable SMEs owners to make informed investment decisions as well as enhance their entrepreneurial skills which will facilitate in recognizing and exploiting the available business opportunities.

Higher Vocational Students’ Future Self-continuity and Sustainable Entrepreneurial Preparation Behavior in China: The Moderating Effect of Financial Literacy and Belief in a Just World

How to stimulate sustainable entrepreneurship among higher vocational students is ambiguous, and cognition is related to sustainable entrepreneurship. Therefore, based on a sample of 206 Chinese higher vocational students, this paper studies the relationship between Chinese higher vocational students’ future self-continuity and sustainable entrepreneurial preparation behaviors, as well as the facilitating effects of financial literacy and belief in a just world. The results confirm for the first time that Chinese higher vocational students’ future self-continuity is significantly and positively associated with sustainable entrepreneurial preparation behavior, and that financial literacy contributes significantly, while belief in a just world do not contribute. This suggests that Chinese higher vocational students need not only knowledge of their present and future selves but also the link between financial knowledge and skills to be able to adequately contribute to sustainable entrepreneurial preparedness.

Financial Literacy Skills as an Effort to form Smart Character in Managing Finances in Karya Utama High School Students

Financial Literacy is knowledge, skills and beliefs that influence attitudes and behavior to improve the quality of decision making and financial management to achieve community welfare. Implementing financial education in order to increase public financial literacy is very necessary because based on a survey conducted by the OJK in 2022, the financial literacy index of the Indonesian population is 49.68 percent, an increase compared to 2013, 2016 and 2019 which were only 21.84 percent each. , 29.70 percent, and 38.03 percent. Service activities were carried out at Karya Utama Private High School Jl. Education No. 23 Marindal Satu, Patumbak District, Deli Serdang Regency, North Sumatra was held on May 20 2024. This activity is a form of socialization and special training for students of Karya Utama Private High School Jl. Education No. 23 Marindal Satu, Patumbak District, Deli Serdang Regency, North Sumatra so that they can have financial literacy skills as an effort to build intelligent character in managing finances in Karya Utama High School students.

Pengaruh Penggunaan Media Sosial, Gaya Hidup, dan Literasi Keuangan Terhadap Perilaku Konsumtif Mahasiswa di Kota Surakarta

The consumer behavior of university students is an intriguing phenomenon to explore given the dominant influence of social media and evolving lifestyles among students. This study aims to investigate the relationship between social media usage, lifestyle, and financial literacy on the consumer behavior of students in Surakarta City. The research employed a quantitative approach, collecting data from 97 active student respondents using social media from several universities in Surakarta City. A structured questionnaire was used to gather data on variables such as social media usage, lifestyle, financial literacy, and student consumer behavior.The data analysis results indicate a significant positive correlation between social media usage and student consumer behavior. Additionally, a consumptive lifestyle also positively influences student consumer behavior. However, financial literacy does not show a positive influence on student consumer behavior in Surakarta City. These findings underscore the importance of financial literacy education among students as a preventive measure against the negative effects of social media usage and consumptive lifestyles.The implications of this study can serve as a basis for developing educational programs and policies aimed at enhancing awareness and financial skills among students.

The Role of CEO Financial Skills on Company Performance

Fast and dynamic economic growth requires companies to choose a chief executive officer (CEO) who has strong technical and managerial skills. One important ability for a company CEO to have is financial expertise. The CEO's financial capabilities can help the company manage resources more efficiently and effectively, especially during times of crisis. This research aims to determine the role of CEO financial expertise on company performance during the Covid 19 pandemic. This research is quantitative in nature using secondary data obtained from the company's annual report and financial statements. The sample for this research was 40 property and real estate companies listed on the Indonesia Stock Exchange in 2020-2022. The data analysis technique used is panel data regression analysis. The results obtained show that CEO financial expertise plays a negative and significant role in company performance. This finding explains that, during the financial crisis, the CEO's expertise was not able to improve company performance.

FINANCIAL LITERACY AMONG MILLENNIALS AND ITS RELATIONSHIP WITH FINANCIAL KNOWLEDGE, SKILLS, ATTITUDES AND BEHAVIORS

This research aims to determine the level of financial literacy among the millennial generation in Pekanbaru City and understand the influence of financial knowledge, attitudes, and skills on financial behavior. The practical implications of this research are significant, as it can provide insights into how financial literacy can be improved among millennials. This research uses multiple linear regression analysis by conducting reliability and validity tests, classical assumption tests, and hypothesis tests. This type of research is quantitative descriptive research with a sample size of 100 respondents from the millennial generation in Pekanbaru City who have met the sample criteria. The research findings show that financial knowledge, attitudes, and skills positively and significantly affect financial behavior among the millennial generation in Pekanbaru. The coefficient of determination (R2) with an adjusted R square value of 0.876 or 87.6% shows that financial knowledge, attitudes, and skills influence 87.2% of financial behavior. In comparison, the remaining 12.4% is influenced by other variables not used in this research. Therefore, it is hoped that the millennial generation can implement their financial behavior well, not just following trends but considering the benefits they get from every financial decision. It is hoped that the government can also provide education regarding financial management behavior through advertising, social media, or outreach to the public, fostering a hopeful and optimistic future.

Fenomena Penggunaan E-Commerce terhadap Perilaku Konsumsi Mahasiswa

The use of E-Commerce platforms has a significant impact on students' shopping patterns and consumption behavior. This article aims to analyze the factors that influence students in choosing to shop through E-Commerce and its impact on students' consumptive behavior from the perspective of consumption theory and modernization theory. The method used in this research is a qualitative approach, with sources collected through literature studies, data analysis, validity of analysis with data triangulation techniques. The results show that factors such as ease of use, price, product quality, availability of goods, emotional benefits, and tangible evidence influence students in choosing to shop through E-Commerce. The impact is a significant change in students' consumption patterns, which includes satisfaction with purchases, ease of product access, but also uncertainty about future needs and changes in shopping priorities. The implication is the importance of financial awareness and wise financial management skills for university students in dealing with the use of E-Commerce to minimize the negative impacts and maximize the benefits in improving their quality of life.

Design Analysis to Enhance Financial Education for Student Entrepreneurs in University

Telkom University organizes an entrepreneurship program that serves entire students who want to start a business with a selection method to be incubated for one semester or more. Doing business for Student Entrepreneurship (SE) requires financial management expertise because it is very important to ensure that products are in line with expectations and efficient use of resources to maximize business profits. Financial skills are also important in running businesses. From that, the university holds learning finance management in the process of business incubation, but SE feels learning financial management is not interesting. Therefore, this research aims to discuss the needs of financial management for SE, lecturers, and universities with a qualitative approach through focus group discussion. The study's key findings are that SE needs to learn about financial statements. They also expect this to be done automatically on a digital basis that is easy to use, so entrepreneurial students can take advantage of the automatically generated data for proper decision-making and can focus on the creative and innovative aspects of the product. Financial apps for financial statements could potentially be made by digital software developers