Money Management Research Articles

АНАЛИЗ РИСКОВ ФИНАНСОВОГО УПРАВЛЕНИЯ НА ПРЕДПРИЯТИЯХ СФЕРЫ РИЕЛТОРСКИХ УСЛУГ И СООТВЕТСТВУЮЩИХ ПРЕВЕНТИВНЫХ МЕР

The purpose of the article is to analyze the types of financial risks of real estate services enterprises, the characteristics of financial risk in real estate services companies, and ways to prevent such risks. Based on this analysis, reasonable proposals for risk prevention are put forward and necessary measures are proposed to provide a theoretical basis for such prevention. The authors used methods of statistical analysis, observation, generalization, and description in the study. Conclusions of the work: capital management in real estate companies requires an integrated approach, including a reasonable analysis of projects, effective use of resources, security and risk control. Making science- based investment decisions is a key aspect of money management. The scientific approach includes the use of economic and financial models, analysis of statistical data, research of market trends and forecasting of investment results.

Determinants of digital financial literacy from students’ perspective

In Malaysia, there has been an increase in bankruptcy cases among the younger generation, indicating poor money management among youths. The Coronavirus Disease 2019 (COVID–19) outbreak has exacerbated this emerging financial issue since financial transactions are now more accessible through the growth of online digital financial products and services (DFS) (Mansour, 2022). Therefore, it is crucial that the younger generation is financially literate from the digital perspective — digital financial literacy (DFL). This study identified factors that may affect one’s DFL that have not been previously explored in the financial literacy literature. In a survey that involved 183 Malaysian university students, determinants of DFL were identified, namely: financial knowledge score (FKS), programme or study level (PL), gender, age, as well as parental influence (PRI), peer influence (PEI), and social media influence (SMI). The data were analysed using partial least squares (PLS) modelling. The structural model analysis revealed that FKS and SMI positively impacted DFL, highlighting the importance of social media for financial education. Age had an insignificantly negative effect on DFL, contradicting earlier studies that used age as a proxy for financial experience. This research outcome adds to the existing and growing literature on DFL, which has lately gained prominence due to the proliferation of DFS.

Financial literacy in the digital age—A research agenda

AbstractDigital innovations are transforming financial services and resulting changes in consumer behavior and personal money management. Diffusion of pervasive digital technologies offers individuals quick and easy access to various digital services bringing opportunities and challenges into their personal money management. The study aimed to explore how digitalization affects individuals' financial literacy and financial capability. As a result, we identified three main themes in the intersection of finance and digitalization: Fintech, Financial behavior in digital environments, and Behavioral interventions. We propose directions for measuring digital financial literacy, updates to the financial literacy curriculum, and developments of digital learning tools. Further, we highlight collaboration between the public and private sectors to create a fairer and more inclusive economic landscape. Our study contributes to existing research by proposing a framework for digital financial literacy and financial capability and a research agenda for future studies.

AUTOMATIC ELECTRICITY BILL GENERATING SYSTEM USING EMBEDDED TECHNOLOGY

Currently, due to increased population and development of industries, the demand for electrical energy is increased. To measure the energy consumption of electrical appliances in a building, a nonintrusive load monitoring (NILM) method is used, in which the energy meter is installed with only a main supply. This method will identify loads that are currently active and provide a detailed accounting of energy consumption of loads. The proposed automatic electricity bill generation system uses the NILM method to measure energy consumption and to periodically provide information about the number of electricity units consumed along with the bill amount. By knowing the consumption of their household appliances, consumers can save energy by controlling their use. Existing billing systems generate electricity bills door-to-door at the end of two months using manual calculation but do not provide periodic billing information. Hence, there can be reading errors, and no energy savings are guaranteed. To overcome these issues the proposed system is designed to provide continuous monitoring of power consumption using the ACS712 current sensor and the corresponding amount calculated by the Arduino board. This system allows users to know exact electricity units consumed and bill amount. Hence, the chance of bill tampering is avoided in the proposed system. Periodically, it alerts consumers through LEDs and GSM messages so that they can manage their power consumption and add support for money management.

INVESTIGATION OF CAUSAL OF RELATIONS BETWEEN THE PARTICIPATION 30 INDEX AND BORSA ISTANBUL100 INDEX IN TERMS OF BANKING MANAGEMENT

Money management is a difficult task, and it has detrimental ramifications if the decisions are not made accurately. The aim of this study is to examine the short and long-term relationships between the participation index operating in the capital markets and the Borsa Istanbul00 index. The relationship between the BIST100 index, which gives information about the general situation of the capital markets, and the logarithmic values of the Participation30 Index, which operates in accordance with Islamic principles in Turkiye, were analyzed by considering the weekly data covering the working days between 2011-2020. Data obtained from the independent online source called, investing.com, was used in the analysis of the study, a cointegration test, causality test, and unit root test were applied, and results were found through an error correction model. The findings were interpreted in line with the results confirming a correlation between the Participation30 and Borsa Istanbul100 indexes. We believe this research will contribute to the scientific literature and money managers greatly.

TASARRUF ETME DAVRANIŞININ ALTINDA YATAN PSİKOLOJİK FARKLILIKLAR

Individuals differ in terms of money management behaviors based on psychological characteristics. The main purpose of conducting research is to contribute to the development of a new credit risk assessment model to be used by a factoring firm, located in Turkey. For this reason, we conducted this research, using surveys related to personality traits, self-esteem, the value attributed to the materials and money, compulsive and impulsive buying tendencies, different aspects of self-control, and impulsiveness. Statistical analysis showed that there were significant differences between the individuals who save regularly and those who do not in terms of average impulsive buying, compulsive buying, impulsivity, retention-time, and extraversion scores. Also, the binary logistic model showed that time-retention, impulsivity, extraversion, agreeableness, and experiential self-control can successfully discriminate savers and non-savers. Some t-test and regression results were surprising; thus, these results will be evaluated through financial features of the participants in the discussion part.

A FRAUD MANAGEMENT FRAMEWORK FOR MOBILE FINANCIAL SERVICES WITHIN KENYA

Mobile banking offers several benefits to financial sectors, including convenience in terms of time, money and effective customer relationship management. However, illegal actions in the digital age have altered the mode banks operate. It has sparked interest in mobile banking. The expansion of mobile banking fraud especially SIM swapping, hacking identity theft, social engineering, denial of service attack and account take over have created various challenges to financial sectors. The perceived criminal actions are due to continuous growth of mobile banking and computer networks. The identified challenges of rise in mobile financial fraud are due to lack of a proper framework to manage the fraud comprehensively among stakeholders. This study investigated fraud management in the Kenyan financial sector. The study used mixed research methodologies using descriptive and inferential analysis. The developed framework was informed by Fraud Triangle Theory (FTT), Routine Activity Theory (RAT), Fraud Management Lifecycle Theory (FMLT) and Deterrence Theory (DT). The findings confirmed that the fraud triangle and deterrence theories are very instrumental when applied to mobile fraud management. Finally, the result of findings will have significant implications not only to academic researchers but likewise for financial institution policymakers and anti-fraud organizations in both the commercial and governmental sectors. KEY WORDS: Fraud management, Banks, Financial services, Framework, Mobile banking, Central Bank of Kenya (CBK), Fraud theories, Fraud principles, Effective, SIM Swap, Customers.

Impact of Alimineti Madhava Reddy Lift Irrigation Scheme on Gender in Nalgonda District of Telangana, India

Access to water is a major concern and challenge for many rural households, whether for drinking and domestic use, irrigation, or livestock use. Women face various challenges and unequal opportunities when it comes to accessing and utilising irrigation technologies. The climatic factors like rainfall, temperature and groundwater influence the availability of water which is crucial factor in agricultural production. The present study analyses the impact of irrigation on gender. 700 households, 350 each from beneficiary and non-beneficiary households of Alimineti Madhava Reddy lift irrigation project in Telangana were selected using random sampling technique and data was collected specifically from women using pre-tested structured schedule. The results from the study revealed that the overall GILIT score of 41 represents that scheme approach to gender equity is good. It is also found that among beneficiaries percentage of decisions taken by women in the household in all the decisions such as production, marketing, social and economic decisions are higher compared to non-beneficiaries which can be accounted to the improvement of literacy rate of women, thereby empowering them which can be accounted to the raise in household income levels due to the additional productivity achieved by the intervention of lift irrigation project. Adequate consultations in future projects targeting a proactive approach towards men and women equally and trainings for women in managing inputs like water, livestock must be exclusively designed on production, value addition, health and money management aspects to impact of the project on socio economic development.

Analysis Towards the Factor of Inadequacy Retirement Fund Among EPF Members

Aging population has become a global phenomenon. Having a long life is great, but it could turn into a nightmare if not prepared properly, especially for retirement savings. In fact, majority retirees in Malaysia had relied on mandatory retirement scheme organized by Employees Provident Fund (EPF), meanwhile, the funds were estimated to deplete just within 5 years after being given to the retirees. Alternatively, the EPF had provided one of the largest and oldest retirement savings funds in the world. Nevertheless, the retirement funds are still insufficient to cover the monthly payments according to the projected life expectancy of a human being in Malaysia, until 75 years old. Thus, this research aims to examine the analysis towards the factor of inadequacy retirement fund among EPF members. Using content analysis, this research examined the appropriate factors to be considered as the addressed problem. The research found that the retirement planning, financial literacy, money management, unexpected cost of living and social norm during before retirement would be deemed as anchor factors to the highlighted issues. Thus, it is valuable if the future study can focus on those factors in investigating the issues.

Factors Determined Food Delivery Rider’s Well-Being in Seri Kembangan, Selangor

The food delivery service is an alternative way for Malaysian consumers to buy food online. It became routine for young adults, university students and it is a need for ageing people. The study about well-being among food delivery riders’ is limited and mainly the past literature mentions the course of the road accident. Working as a food delivery rider is one of the job solutions to generate family income during a pandemic. Therefore, the purpose of this study is to analyse the factors that determine food delivery riders’ well-being in Seri Kembangan, Selangor. Motivation, physiological and safety needs are independent variables related to the well-being of food delivery riders. The data were collected at Seri Kembangan, and the respondent was chosen by random sampling. The finding is important to The Ministry of Human Resources to create a policy for the food delivery riders’ well-being. The well-being of food delivery riders in terms of financial, emotional and social have to explore further. The recommendation to food delivery riders is to increase their well-being by having insurance; social workers to assist this group manage their resource management such as self-management, money and debt management which leads to quality of life.

How mindfulness reduces BNPL usage and how that relates to overall well-being

PurposeThe purpose of this study is to examine how mindfulness reduces consumers’ buy-now-pay-later (BNPL) payment scheme usage and how that relates to their overall well-being.Design/methodology/approachThis study uses partial least squares structural equation modeling to test the hypotheses of a conceptual framework which is rooted in the extant literature, using an approximately representative sample of Australian consumers (N = 275).FindingsThis study finds empirical evidence for the ability of mindfulness to reduce BNPL usage through increasing consumers’ financial self-control and decreasing their impulse buying tendency. This study also obtains empirical evidence that greater BNPL usage is associated with lower subjective evaluations of consumers’ overall well-being by increasing their current money management stress and decreasing their expected future financial security.Research limitations/implicationsFuture research could build on the effect of mindfulness that the authors find in this study and how it could be leveraged as a protective mechanism for consumers’ financial decision-making. Such research could involve mindfulness-based interventions, such as instant messaging within smartphone applications. Doing so would also help assess causality, thus addressing the limitation of the cross-sectional nature of this study.Practical implicationsThe findings have implications for public policymakers and business practitioners. Financial counselors are encouraged to include the measurement of personality traits such as impulse buying tendency and financial self-control in intake meetings with clients and consider the benefits of offering short mindfulness training. Given the negative effect of BNPL usage on consumers’ financial and overall well-being, and the reputational risks this implies, BNPL providers are recommended to take more responsibility to ensure consumers do not fall into a debt trap, while retailers are advised to take steps to make payment processes more “mindful.”Originality/valueAlthough mindfulness has established effects on consumer behavior, its beneficial influence on consumer financial decision-making has rarely been explored. This study also contributes to a better understanding of the antecedents and consequences of consumers’ BNPL payment scheme usage. Although its prominence is increasing in daily life, and despite the concerns of consumer advocates, policymakers and regulators regarding its risks, the topic of consumers’ BNPL usage has received little attention in academic research so far. Finally, this study extends the emerging financial well-being literature by demonstrating how BNPL usage can reduce consumers’ overall well-being through the mediating effect of increasing current money management stress and decreasing expected future financial security.

CROSS-VALIDATION OF THE LICHTENBERG FINANCIAL DECISION RATING SCALE

Abstract This study examines the cross-validation of the long form of the Lichtenberg Financial Decision Rating Scale in relation to decision making abilities and suspected financial exploitation.Ninety-five older adult community participants underwent an assessment session which included the LFDRS, cognitive tests and the Independent Living Scale financial management subtest. The LFDRS has four subscales including an intellectual factor that measures choice, understanding, appreciation, and the rationale of decisions. Demographic information was also collected.The concurrent validity of the subscales and LFDRS were examined by Pearson correlations in order to be able to examine the relationship between cognitive test scores, ILS money management scores and LFDRS risk scores. Hierarchical regression analysis was conducted to determine whether cognitive and financial management tests were contributed to the prediction or risk scores greater than demographic variables. LFDRS total was significantly related to executive functioning and female gender. The Financial Situational Awareness subscale showed significant correlations with Trailmaking B but was unrelated to demographics. The relationship of executive functioning to vulnerability to exploitation was largely driven by the Financial Situational Awareness subscale. This finding is consistent with previous studies of the LFDRS and adds to the evidence supporting the concurrent validity of the LFDRS with cognitive functioning.

A SYSTEMATIC LITERATURE REVIEW AND RESEARCH OBJECTIVE OF TREASURY MANAGEMENT OF URBAN COOPERATIVE BANKS

Purpose: The current study aims in understanding and reviewing of the literature done in the area of cooperative banking sector and with some special reference of Urban cooperative banks. The paper also helps in identifying the gaps in the study conducted till now, and provides the gate way for further study in the area. One such important area is of the investment pattern and cash flow management which is specifically called as treasury management. Methodology or Approach: To conduct the study literature review of papers, articles and other documents related to the cooperative banks and their activities were reviewed. Major research papers conducted in the area of Cooperative banks, fund management of commercial banks and also some of the highlighted activities under the head of banking sector are also studied in this paper. Conduction of literature survey gives an idea to identify the research gap and area available for study further. Special reference given to the Urban cooperative banks which are creating major part of cooperative sector in financial inclusion and money management in rural, urban and semi urban areas of Karnataka. In the study flow, research gap was identified for further study and they were scrutinized using ABCD and SWOC models to understand in academic method. Findings: After in-depth study of literature on UCB and other cooperative banks, it was clear that there is huge scope for study in the area of the banks fund management and treasury management activities which happens as a daily routine work in all the banks. There are better opportunities available for the banks to conduct their investment and sourcing of funds in increasing the mobility of funds to make much profit. But still these cooperative banks are restricted themselves in to specific area of business and this has to be promoted well to develop the UCB’s so that they can compete with the other commercial banks. Originality/value of the study : Here it is not just the study of financial performance of the UCB and other cooperatives, but their investment activities were also included in the study. These type of study are very rare, since many researchers only conducted study on profitability, financial position and growth of cooperative banks only. However in the current study more concentration was given for the treasury management of UCB’s under the heads of cooperative banks. The study will be more effective and useful for the society and even for the organisations in understanding the fund management activity. Paper type : Systematic literature review paper. KEY WORDS: Cooperative, UCB, Fund management, Cash flow, Investment, Performance analysis, Banking, Sources of funds.

Continuous Learning for Employee Capacity Developing in Personal Mastery at Bank Indonesia

The purpose of this research is to discover the impact of continuous learning through strengthening competence, and innovation literacy on the improvement of performance. The research method used is a quantitative explorative technique with surveys with respondents being employees of the money management department at Bank Indonesia. The study samples are 160 out of the 272 total population, which were selected using simple random sampling. The data collection process was employed using a questionnaire. Subsequently, the data analysis process used descriptive statistical analysis and multiple regression, and before the regression analysis, requirement analysis was conducted using tests of normality, heteroscedasticity, autocorrelation multicollinearity. The findings in this study are: a) competence and innovation literacy affect the level of achievement of employee performance in Institution X; b) the correlation between competence and innovation literacy on the performance of Institution X employees shows ‘positive’ and ‘strong’; c) competence and innovation literacy contribute to the achievement of Institution X’s employee performance by 52.8%, and the remaining 47.2% by other factors; d) innovation literacy has a higher level of sensitivity in achieving Institution X employee performance compared to competence; e) the results of this study imply the need to strengthen competence and innovation literacy through a decent effective continuous learning in organizational, and the learning model of Technological Pedagogical Content Knowledge (TPCK) can be used as a continuous learning model in organizations/Institutions.

Determinants of SMEs Financial Behavior in Gresik with Financial Literacy as an Intervening Variable

Financial Behavior is the ability of a person who is fundamentally able to manage day-to-day financial funds effectively based on planning, budgeting, auditing, managing, controlling, searching, and storing, and aims related to the responsibility for making financial decisions. The purpose of this research is to find out the direct and indirect effects that can affect financial behavior. This study used 150 MSME respondents in Gresik, who were analyzed using the Structural Equation Model (SEM), with the variables used financial attitude, level of education, financial behavior, and financial literacy as intervening variables. The results showed that the variables of education level and financial attitude had an influence on financial literacy and financial behavior, and the financial literacy variable was able to become an intervening variable to influence the level of education on financial behavior, and financial attitudes to financial behavior. In the research that has been done that financial behavior is a very important thing to have concerning how one's attitude and perspective in financial matters, including SMEs, especially those in Gresik. Besides that, the importance of financial literacy is also very much needed because the more a person has a lot of information about finances, it can also affect one's perspective on how money management should be done to reduce the financial risks that must be faced.

LEARNING DOLLAR UP TECHNIQUE BY A PARTICIPANT WITH DOWN SYINDROME

It is stated that people with intellectual disabilities (ID) have self-regulation difficulties when being compared to typically developing people. Process of planning self-regulated strategies for people with ID involves defining the goal, choosing the right strategy that would allow the person to achieve the predetermined goal, goal realization process and evaluating the outcomes. Therefore, the aim of this study was to examine the effectiveness of implementing self-regulated strategies into achieving the goal of dollar up technique usage for independent shopping for a 28 year old participant with Down syndrome and moderate ID. We defined the goal as recognition and use of 100 dinars bills. The set goal had four phases and for each phase the baseline probes were conducted, as well as materials for independent use by the participant were made.The results indicate that the participant mastered the first phase with 40% success, second one with 100% success, third one with 90% success and the fourth and final stage with 100% success. Even though the participant did not master the first phase in the required percentage, this did not disrupt the mastering of the final goal. This study extends the research regarding dollar up strategy implementation, by providing evidence that people with ID can benefit from self-regulation procedures and proves that they are able to learn them on their own when given the right materials, therefore obtain better community skills and obtain full participation in the society they live in. Study limitations and possible procedure modifications were discussed.Key words: Dollar up, money management, self-regulation, Down syndrome, intellectual disability.

Assess the Efficiency of Ping An and Ren Shou’s Use of Life Insurance Business FundsBased on the DEA Model

Ping An and Ren Shou have always been the two leading players in China’s life insurance industry. Ping An, founded in 2002 as a private enterprise, has been continuously improving its life insurance to try to surpass Ren Shou, which was established in 1996 as a state-owned enterprise. Losing the advantage of starting capital amount and experience, the best way for Ping An to surpass Ren Shou is to enhance its capital operation efficiency. This paper takes the capital utilization efficiency of Ping An as the main study object compared to that of Ren Shou to give suggestions for the use efficiency of funds. The DEA was used to analyze the data of investment income, operating income, management expenses etc. of the two companies from 2006 to 2021. The operating results showed that fund-using of Ping An was less efficient than that Ren Shou. According to the results, the recommendations given are to improve pure technical efficiency, expand the size of the company, and establish a money management company.

The Impact of Business, Marketing, and Accounting Courses on Financial Literacy in South Florida High Schools

The advancement of technology and its subsequent emphasis on money as the driving force of success is prevalent in all developed countries. Due to rising inflation and cost of living, the economic statuses of millions of individuals are in jeopardy. To address these problems, state governments funded various financial literacy programs focused on educating the youth on the basics of money management. However, with state budgets allocating millions of dollars towards traditional curriculum, financial literacy is often pushed aside. Moreover, the lack of research done on financial literacy electives and the failure to localize results produce an inaccurate representation of how financially literate the current youth generation is. Therefore, most adolescents are not equipped with the resources or opportunities to be financially prepared for the real world. In an effort to improve the financial illiteracy of the nation, this study assesses which present-day financial literacy courses, programs, and electives are the most effective in increasing the amount of financial literacy in South Florida adolescents aged 14-18. Within this study, the evaluation research approach was applied using data gathered via an online survey shared by teachers across the region. Findings revealed that all students enrolled in a financial literacy course showcased a greater understanding of money management, especially those in single-year courses. When considering implications, increased awareness of the importance of financial literacy on a local scale and changes in state curriculum could prepare future generations to make sound financial decisions, and thus, strengthen the economy.

Perancangan Sistem Pendukung Keputusan Berbasis Website Pada Pemilihan Instrumen Investasi Terbaik Menggunakan Metode TOPSIS

In managing finances there are various ways that can be chosen, such as saving and investing. Investment has long-term and short-term goals and has several types of instruments with each instrument having a promising return. Generation Z is now familiar with matters related to financial technology for their money management field. The lack of literacy among Generation Z in terms of investment raises doubts and even fear in making an investment making it difficult for them to choose or decide on the best investment instrument product. This study aims to help potential investors, especially Generation Z, in choosing the type of investment according to the selection criteria offered, namely Equity Mutual Funds, Money Market Mutual Funds, Crypto, Bonds, and Deposits. The research method used is Technique for Order Preference by Similarity to Ideal Solution (TOPSIS). Topsis is a multicriteria decision making method based on the concept that the best alternative not only has the shortest distance from the positive ideal solution but also has the longest distance from the negative ideal solution. The results of data analysis obtained the best preference values, namely Equity Mutual Funds of 0.75 and Deposits with a value of 0.62. The results of this study are implemented by designing a website-based decision support system using the PHP programming language and MySql database which can help determine the best investment instrument according to user preferences. keywords : Decision Support System, Invesment, MySQL, PHP, TOPSIS

Understanding the role of financial health literacy in midlife and old age: A scoping review.

As global population ageing persists, understanding older adults' capacity to navigate the financial and healthcare system is essential. This scoping review examines how the concept of financial health literacy (FHL) is described and measured in the existing literature, the factors that may affect it, and its potential outcomes in middle-aged and older adults. The review follows the PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analysis) extension guidelines to synthesise the available evidence on this topic. We utilised electronic databases and hand searching to identify relevant literature published between 2010 and 2022. A total of 29 articles were included in this review. The results showed that FHL involved accessing, understanding and utilising financial information for planning/management of healthcare expenses and selecting appropriate health services. However, FHL is not particularly depicted as a concept in the current literature, as most studies investigated health literacy, financial literacy and health insurance literacy as separate domains that were interrelated to one another. No validated measurement tool was developed for FHL. We propose five domains to indicate the concept and measurement of FHL in middle-aged/older adults: money management, management of medical bills, understanding health insurance, deciding on appropriate health services, and planning for long-term care needs. Demographic variables, such as sex (females), advanced age, cognitive impairment, low education and income and racial and ethnic minorities, were found to be related to low FHL. The reviewed studies also showed that FHL was related to several outcomes, including healthcare decision-making, physical health and psychological well-being. Hence, future studies to develop and validate assessment tools of FHL, together with the involvement of vulnerable groups, are imperative to understanding the concept of FHL. This could also facilitate the development of appropriate interventions that could enhance this capacity in the ageing population.