Main Article Content
Developing countries, such as Malaysia, are in need of working women to help to improve the country's economy. Thus, it is of immense need for our economy to take into consideration the fact that where and how working women are spending or investing their funds. For appropriate utilization of funds, working women need to be financially literate. Financial literacy is the convergence of financial, credit and debt management and the knowledge that is necessary to make financially responsible decisions. This paper is conducted to assess the correlation between financial literacy and its component namely financial education, financial attitude, financial behavior and financial knowledge. Data processing of this study using a Pearson correlation coefficient and the sample size of 35 respondents which is working women in Universiti Utara Malaysia. A part from Pearson correlation coefficient, include descriptive statistics of frequency counts and percentages as a methid of data analysis employed in this study. The data are quantitatively analyzed through statistical software namely, Statistical Packages for Social Science (SPSS) version 25.0. The result indicates that financial literacy does not have a significant relationship with financial knowledge. However financial education, financial attitude and financial behavior together have a significant relationship with financial literacy.
Xu L, Zia B. Financial literacy around the world: An overview of the evidence with practical suggestions for the way forward. World Bank Policy Research Working Paper. 2012;6107.
Adriana BVA, Valenzuela JR. Financial literacy: Gaps found between mexican public and private, middle, and high-school student; 2017.
Lusardi Annamaria, Olivia S. Mitchell. Baby boomer retirement security: The role of planning, financial literacy, and housing wealth. Journal of Monetary Economics. 2007;54:205–224.
Lusardi A, Tufano P. Debt literacy, financial experiences, and over indebtedness. National Bureau of Economic Research; 2009.
Kim J, Sorhaindo B, Garman E. Relationship between financial stress and workplace absenteeism of credit counselling clients. Journal of Family and Economic Issues. 2006;27(3):458-478.
Loke Yiing Jia. Financial knowledge and behaviour of working adults in Malaysia; 2015.
Hung A, Parker AM, Yoong J. Defining and measuring financial literacy; 2009.
Huston SJ. The Journal of Consumer Affairs Measuring Financial Literacy. 2010;44(2):296–316.
Folk JY, Beh LS, Baranovich DL. Financial education: Determinant of retirement planning in Malaysia. E3 Journal of Business Management & Economics. 2012;3(2):69-78.
Tavakol M, Dennick R. Making sense of Cronbach's alpha. International Journal of Medical Education. 2011;2(53).
Bland JM, Altman DG. Validating scales and indexes. BMJ. 2002;324(7337):606-607.
Joseph A, Rosemary R. Calculating, interpreting, and reporting Cronbach’s alpha reliability coefficient for Likert-type scales; 2003.
Zaimah R, Sarmila M, Lyndon N, Azima A, Selvadurai S, Saad S. Financial behaviors of female teachers in Malaysia. Asian Social Science. 2013;9(8):34.
Jorgensen BL. Financial Literacy of College Students: Parental and Peer Influences; 2007.
Ibrahim D, Harun R, Isa ZM. A study on financial literacy of Malaysian Degree students. Cross-Cultural Communication. 2009;5(4):51-59. [ISSN 1712-8358]
Agarwalla SK, Barua SK, Jacob J, Varma JR. Financial literacy among working young in urban India. Indian Institute of Management Ahmedabad, WP, (2013-10). 2013;02.