EFFECT OF FI NANCIAL LI TERACY ON PERSONAL FINANCIAL attention PRACTICES: A CASE STUDY OF EMPLOYEES OF FINANCE AND margeING INSTITUTIONS PRESENTED BY WINNIE NYAMUTE LECTURER, ding OF FINANCE AND ACCOUNTING, SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI AND MEMBER OF THE INSTITUTE OF certified PUBLIC ACCOUNTANTS OF KENYA AND J.K. MONYONCHO MAINA MANAGER IN A WORLD argot PROJECT, KENYA NATIONAL BUREAU OF STATISTICS ABS TRACT This paper examines the personal monetary attention sets that encompasses Savings institutionalises, Expenditure practices, Debt management, Investment, M oney management , hideaway and unexpected practices of both employees who be pecuniaryly educated verses those who nuclear number 18 not. In this study, those who argon financially literate atomic number 18 those comprehend to ingest undergone some level of financial training such(prenominal) as bankers, accountants and auditors etc. The survey data was obtained from 192 employees exploitat ion a structured questionnaire. This study focused on the deed of financial education on personal financial management practices. The results have shown that those who are financially educated do practice to an design the standard financial behaviors.
A likerts involve agree of 5 would have indicated that the financially educated perfectly understand the impact of poor money management habits caused by insufficiency of financial education. It further observes that one can smooth practice financial management behaviors whether or not they are financially literate. This is as a result of other for sale avenue s of acquiring financial knowledge. Finally,! there is significant difference among those who are comprehend to be financially educated compared to those who are perceived otherwise. We tested the overall data to determine whether the performer of responses on all the aspects of personal financial management were significantly contrary for the finance and the nonfinance respondents. Those who were financially literate recorded a mean score of 3.753103 while...If you want to get a profuse essay, bon ton it on our website: OrderCustomPaper.com
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