Exploring Financial Awareness among Undergraduate Students at Hodeida University in Yemen
Article Sidebar
Main Article Content
Abstract
In a country like Yemen, where people exist on meager incomes and struggle to make ends meet, poverty is widespread. There is an urgent need to maintain, administer, and set aside funds for emergencies. This study aims to explore the Level of Financial Awareness and financial knowledge among Undergraduate Students in Yemen. Students attending educational institutions of a higher level are expected to be responsible for managing their expenses and they have a high level of financial awareness. The study relied on primary data collected from a randomly selected sample of people. A total of 218 students at Hodeida University in Yemen were randomly selected to participate in the study. The Statistical Package for the Social Sciences (SPSS) was used to analyze the data. The results show that the level of financial awareness among Undergraduate Students at Hodeida University in Yemen is high, and also observed that males, on average, have financial knowledge more than females. In this light, the research adds to the body of information on financial awareness by illustrating the significance of financial literacy and access to financial knowledge among Yemeni undergraduate students. Finally, we strongly recommend academics, teachers, legislators, financial institutions, and governments make financial education a mandatory element of every school's curriculum, regardless of the level.
Article Details
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
References
A. Demirguc-kunt et al., “Global Findex Database 2014 : Measuring Financial Inclusion around the World,” 2014.
K. Lambert, “The Global Financial Crisis : Response Of Social Workers,” vol. 20, no. 2, pp. 41–53, 2011.
P. Bhushan, “Insights Into Awareness Level And Investment Behaviour Of International Journal of Engineering , Business and Enterprise Applications ( IJEBEA ) Insights Into Awareness Level And Investment Behaviour Of Salaried Individuals Towards Financial,” no. January, pp. 6–11, 2014.
R. Kumar and D. C. Pathak, “Financial awareness: a bridge to financial inclusion,” Dev. Pract., vol. 0, no. 0, pp. 1–13, 2022, doi: 10.1080/09614524.2022.2028731.
A. Atkinson, “Promoting Financial Inclusion through Financial Education : OECD / INFE Evidence , Policies and Practice,” no. 34.
I. N. on Financial Education, “Measuring Financial Literacy : Questionnaire and Guidance Notes for Conducting an Internationally Comparable Survey of Financial Literacy,” Oecd, p. 31, 2011.
OECD, “The Importance of Financial Education,” Policy Br., no. July, pp. 1–9, 2006.
G. Okello, C. Bongomin, and J. M. Ntayi, “Analyzing the relationship between financial literacy and financial inclusion by microfinance banks in developing countries : social network theoretical approach,” vol. 40, no. 11, pp. 1257–1277, 2020, doi: 10.1108/IJSSP-12-2019-0262.
O. S. Mitchell, “Financial Literacy Among The Young :,” 2009.
K. Huzdik, “Teachers ’ Financial Literacy,” no. March, 2022, doi: 10.35551/PFQ.
K. A. Khan, “Financial Awareness and Investment Preference of Working Women in Financial Awareness and Investment Preference of Working Women in Kampala , Uganda,” Int. J. Manag. Soc. Sci., vol. 3, no. 9, pp. 62–70, 2015.
O. Kodongo, “Ac c ep te d us cr,” Emerg. Mark. Financ. Trade, vol. 0, no. 0, 2017, doi: 10.1080/1540496X.2017.1418318.
A. Lusardi and O. S. Mitchell, “of Financial Literacy : Theory and Evidence,” vol. 52, pp. 1–40, 2014.
O. S. Mitchell, “Financial Literacy Around The World :,” 2011.
L. Klapper, “Financial literacy and retirement planning : the Russian case *,” vol. 10, no. 4, pp. 599–618, 2011, doi: 10.1017/S1474747211000503.
M. K. Refera, N. K. Dhaliwal, and J. Kaur, “Financial literacy for developing countries in Africa : A review of concept , significance and research opportunities,” vol. 8, no. 1, pp. 1–12, 2016, doi: 10.5897/JASD2015.0331.
H. A. Meressa, “Entrepreneurial financial literacy - small business sustainability nexus in Ethiopia Entrepreneurial financial literacy - small business sustainability nexus in Ethiopia,” Cogent Bus. Manag., vol. 10, no. 2, 2023, doi: 10.1080/23311975.2023.2218193.
T. J. Malhotra and S. Jain, “Financial Awareness among Working Women : An Empirical Study,” vol. 6, no. 1, 2017.
J. Sági, L. Vasa, and C. Lentner, “Innovative solutions in the development of households’ financial awareness: A hungarian example,” Econ. Sociol., vol. 13, no. 3, pp. 27–45, 2020, doi: 10.14254/2071-789X.2020/13-3/2.
S. Lewis and F. Messy, “Financial Education, Savings and Investments: An Overview, OECD Working Papers on Finance, Insurance and Private Pensions, No. 22,” OECD Work. Pap. Financ. Insur. Priv. Pensions U6, no. 22, p. 1, 2012.
H. Sulistianingsih and F. Santi, “Does SME ’ s financing decisions follow pecking order pattern ? The role of financial literacy , risk preference , and home bias in SME financing decisions Does SME ’ s financing decisions follow pecking order pattern ? The role of financial literacy , risk preference , and home bias in SME financing,” Cogent Bus. Manag., vol. 10, no. 1, 2023, doi: 10.1080/23311975.2023.2174477.
J. Reichelstein and B. Zia, “Can You Help Someone Become Financially Capable ? A Meta-Analysis of the Literature,” no. January, 2014.
S. K. Agyei, C. Nsiah, and B. Wallace, “Culture , Financial Literacy and SME Performance in Ghana Culture , financial literacy , and SME performance in Ghana,” Cogent Econ. Financ., vol. 37, no. 1, 2018, doi: 10.1080/23322039.2018.1463813.
F. Khan, M. A. Siddiqui, and S. Imtiaz, “Cogent Business & Management Role of financial literacy in achieving financial inclusion : A review , synthesis and research agenda Role of financial literacy in achieving financial inclusion : A review , synthesis and research agenda,” Cogent Bus. Manag., vol. 9, no. 1, 2022, doi: 10.1080/23311975.2022.2034236.
S. Pangestu and E. B. Karnadi, “Cogent Business & Management The effects of financial literacy and materialism on the savings decision of generation Z Indonesians The effects of financial literacy and materialism on the savings decision of generation Z Indonesians,” Cogent Bus. Manag., vol. 7, no. 1, 2020, doi: 10.1080/23311975.2020.1743618.
P. C. Andreou and D. Philip, “Financial Knowledge Among University Students and Implications for Personal Debt and Fraudulent Investments,” SSRN Electron. J., vol. 2018, no. April, 2018, doi: 10.2139/ssrn.3250850.
A. C. Worthington, “Predicting financial literacy in Australia Predicting financial literacy in Australia,” no. March, 2006.
L. M. Borden, Æ. S. L. Æ. Joyce, and S. Æ. Dawn, “Changing College Students ’ Financial Knowledge , Attitudes , and Behavior through Seminar Participation,” pp. 23–40, 2008, doi: 10.1007/s10834-007-9087-2.
J. K. H. Nga, L. H. L. Yong, and R. D. Sellappan, “A study of financial awareness among youths,” 2011, doi: 10.1108/17473611011093916.
A. Feizal, A. Ibrahim, I. Ismail, A. Engkamat, and P. S. Kawit, “The Level of Financial Awareness Among Undergraduate Students in UiTM Sarawak,” no. Rcstss 2014, pp. 291–300, 2016, doi: 10.1007/978-981-10-1458-1.