Investigating Financial Literacy Knowledge, Attitude, and Practice of Malaysian Secondary School Students

  •  Davamalar Arivalagan    
  •  Pavithran Ilangko    


Youths are more likely to achieve financial independence and prevent intergenerational poverty with adequate knowledge about finance management. Adequate financial literacy is pertinent to enhance financial knowledge, behaviours, and overall well-being in managing finance from a young. This study aims to assess the financial knowledge, attitude, and practice among 150 high school urban students aged 13 to 17 years. The participants (N=150) completed an online survey questionnaire. The financial knowledge was assessed with 20 knowledge-based questions and 15 attitude and practice-based questions respectively using the Likert scale. Data was analysed using the chi-square test and median value. Results show a significant association between financial knowledge and financial literacy. The higher secondary students had higher scores in the three variables due to the exposure to financial literacy subjects, parental support, and peer influence in financial practices. Financial literacy was also associated with the age of the study population. The study shows that there is a need to implement a formalised curriculum to increase financial literacy among secondary students to have a more robust and positive implication on the students’ financial practices for the future. The study is significant in creating awareness and empowering the students with the necessary financial literacy skills.

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