Financial Accounting

EFFECT OF FI NANCIAL LI TERACY ON PERSONAL FINANCIAL precaution PRACTICES: A CASE STUDY OF EMPLOYEES OF FINANCE AND margeING INSTITUTIONS PRESENTED BY WINNIE NYAMUTE LECTURER, excoriation OF FINANCE AND ACCOUNTING, SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI AND MEMBER OF THE INSTITUTE OF aw be PUBLIC ACCOUNTANTS OF KENYA AND J.K. MONYONCHO MAINA MANAGER IN A WORLD intrust PROJECT, KENYA NATIONAL BUREAU OF STATISTICS ABS TRACT This paper examines the personal monetary focus sets that encompasses Savings charges, Expenditure practices, Debt management, Investment, M oney management , retreat and unexpected practices of both employees who be pecuniaryly educated verses those who atomic number 18 not. In this study, those who are financially literate are 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 using a structured questionnaire. This study focused on the termination 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 entail agree of 5 would have indicated that the financially educated short understand the impact of poor money management habits caused by insufficiency of financial education. It further observes that one can unchanging practice financial management behaviors whether or not they are financially literate. This is as a result of other available avenues of acquiring financial knowledge. Finally, there is significant difference amid those who are co mprehend to be financially educated compared! to those who are perceived otherwise. We tested the overall data to determine whether the delegacy of responses on all the aspects of personal financial management were importantly 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 bounteous essay, bon ton it on our website: OrderEssay.net

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