Financial Literacy among Malaysian: Level of Financial Knowledge Score

• Published in: The Journal of Social Sciences Research no. SPI6; pp. 300 - 304
• Format: Journal Article
• Language: English
• Published: 26.12.2018
• ISSN: 2413-6670; 2411-9458
• DOI: 10.32861/jssr.spi6.300.304

This study aims to provide empirical evidence on the current level of financial knowledge score among households in Malaysia. A survey approach was employed to gather research data. The survey was carried out between February to May 2017 in several states in Peninsular Malaysia. The selection of respondents was based on random sampling technique with a total of 451 respondents. Data collected was descriptively analyzed. The study finds that less than 50% of the respondents achieved high score of financial knowledge. The study also observes that female respondents have much lower level of financial knowledge than male respondents. The study concludes that the current level of financial knowledge among Malaysian is still low to moderate with less than half of the respondents achieved high score .Hence, it is crucial for the relevant and responsible Malaysian authorities and agencies to formulate and implement appropriate strategies in improving Malaysian financial literacy.