Descriptive Analysis of Financial Literacy among Youth
Journal Title: IOSR Journal of Humanities and Social Science - Year 2018, Vol 23, Issue 5
Abstract
Financial literacy among youth have presently become a very important issue to a country because it is recognized that the financial literacy facilitate wealth accumulation. Through this study it has tried to explore the data related to financial literacy among youth. People have to face lots of financial issues through their life time in many places. Especially for the youth generation should have the ability to manage money and assets, investments, creditsetc. Hence this study focuses to analyze the knowledge of financial literacy among youth. Sample of this study included randomly selected two hundred respondents those who have already completed their Advance Level studies in various streams in Sri Lanka. Study stream mainly divided in two main areas. As commerce and non-commerce. Various descriptive statistical techniques such as graphical representations, central tendency measures and measures of dispersion were used to analyze the data. Data collecting instrument used here was questionnaire. Questionnaire divided into six main areas as investments, taxation, credit,financial institution,currency and export import. Through the analysis it was investigated that literacy gap were widened among the youth according to their study streams in the areas investments and taxation. Apart from that less than 20% literacy gap were identified in the areas credit, currency, financial institutions and exports and imports. Further the measures of dispersion revealed that variation is higher among the male students. Therefore it can be concluded that the youth who were not studied in the field of commerce are in low level of financial literacy. This situation has confirmed by some scholars in literature as well. Hence most suitable solution for enhancing the financial knowledge among non-commerce students are to include the financial literacy education to the national curriculum and take necessary steps to popular the financial literacy education among youth.
Authors and Affiliations
S. Damayanthi Edirisinghe
Keywords
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- DOI 10.9790/0837-2305103641.
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