Cess RRL

REVIEW OF RELATED LITERATURE

This chapter presents the review of related literature that have bearing on the present study. It
also includes researches taken from thesis and dissertations that are significant to the present
undertaking.
A. Related Literatures
FOREIGN 1
Saving Behavior
Mohamad Fazli and MacDonald (2010). Said that Saving behavior refers to how people put money
aside for future use. They stated that people who know how to save money have less financial stress
and a higher quality of life to live. Many people have practiced financial management to budget their
finances neither save their money in case of emergencies, but it is difficult for those who do not have
enough resources to maintain it, Because they must also survive in their daily llive
As a result, it is critical to investigate the factors that influence saving behavior among university
students. In Malaysia, only a few studies on student saving behavior have been conducted. Syahrom,
Nasrudin, Yasin, Azlan and Manap, 2017, Nurul Shahnaz & Saleh. (2013)
In addition, previous research has focused on family background, financial literacy, and gender, but few
studies have included the students' educational program as a factor to consider. As a result, the study
looks into how education level, gender, race, family background, education program, and financial
literacy affect students' saving behavior. Bona (2018) .

FOREIGN 2
Financial Knowledge
According to Cyprus' report, the student’s financial attitude and behavior are being observed. The
survey is the first attempt to understand financial insecurity among domestic students, with the goal of
informing policymakers about developing appropriate interventions based on the models studied in the
literature. Furthermore, the findings of the study will be used as pilot evidence by government agencies
eager to promote financial literacy and inclusion in the country, particularly among young people. Poor
financial decisions can have serious negative externalities that affect not only the talents themselves,
but also their families and the overall well-being of the economy, according to the study, which aims to
investigate the implications of financial knowledge for students' ability to manage debt and investments.
Young people are a nation's future, and sound financial decisions will have positive externalities to
wealth creation throughout their lives, allowing them to achieve long-term goals such as higher
education, property ladder climbing, and contributing to pension financing. Savia and Jorgonen (2010)
Given recent financial changes, investigating levels of financial knowledge in Cyprus is critical for
policymakers in the country. The global financial crisis trembled the economy in 2008, and the banking
crisis strike between 2012 and 2014. Incentive lending and borrowing, as well as excessively risky loans,
were among the underlying characteristics of the financial and banking situations that contributed to
the crisis. Clerides (2014) states that these conditions are primarily symptoms of low levels of financial
literacy, and that increasing financial literacy within this population can help with such issues by getting
the population more financially informed.

LOCAL
Financial Literacy
The goal of the study that they conducted is to determine the direction and strength of the relationship
between financial behavior and financial literacy among young professionals in Metro Manila.
Many economic decisions necessitate basic financial concept knowledge, as better financial literacy
equates to better financial decision-making. Despite the fact that research on financial literacy has
increased over the last decade, scientists say that more research is needed because appropriate training
programs can be designed as a result of diagnosing individuals' financial deficiencies. Swiecka, Yeşildag,
Zen, and Grima (2020)
A person with good financial literacy will be smarter in managing finances, and changes in behavior are
highly recommended to achieve this so that individuals can have skills and confidence in using
knowledge to identify financial products and services Dwiastanti (2015). Financial literacy is an
important factor. However, only a few people have the necessary knowledge to properly study it,
leaving billions of people unprepared.
Hsu et al. (2020), gender can influence risk-taking attitudes and preferences. According to the findings,
men are more likely than women to take risks, and men are also more fiscally responsible than women.
However, it appears that young women have more financial interactions with their parents than young
men, and as a result, they are more likely to have their parents influence their attitudes and behaviors.
Slim, Serido, Tang, & Card. (2015)

URLS:
Saving Behavior
https://www.researchgate.net/publication/338858599_Students'_Saving_Behaviour_Do_Demographic_
Profile_Parents'_Background_and_Financial_Literacy_Matter_An_Empirical_Study_in_Private_Universiti
es_in_Selangor
…
Financial Knowledge
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.researchgate.net/
publication/
328206676_Financial_Knowledge_Among_University_Students_and_Implications_for_Personal_Debt_a
nd_Fraudulent_Investments&ved=2ahUKEwiEnOLLwNz6AhVOtlYBHSB5Cl0QFnoECA8QAQ&usg=AOvVa
w3p8BccYc60qXBJKksp88Yp
…
Financial Literacy
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.journals.resaim.com/ijresm/
article/view/
1713&ved=2ahUKEwia9ojFq936AhUOZt4KHSXlDr4QFnoECA0QAQ&usg=AOvVaw2WgNbQtMTyZuDjJxLc
HkX4

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REVIEW OF RELATED LITERATURE

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