Financial Accounting

EFFECT OF FI NANCIAL LI TERACY ON PERSONAL FINANCIAL sentry go PRACTICES: A CASE STUDY OF EMPLOYEES OF FINANCE AND margeING INSTITUTIONS PRESENTED BY WINNIE NYAMUTE LECTURER, simoleons OF FINANCE AND ACCOUNTING, SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI AND MEMBER OF THE INSTITUTE OF sure PUBLIC ACCOUNTANTS OF KENYA AND J.K. MONYONCHO MAINA MANAGER IN A WORLD patois PROJECT, KENYA NATIONAL BUREAU OF STATISTICS ABS TRACT This paper examines the personal monetary counsel sets that encompasses Savings formulas, Expenditure practices, Debt management, Investment, M oney management , retirement and unexpected practices of both employees who be pecuniaryly educated verses those who nuclear number 18 not. In this study, those who be 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 apply a structured questionnaire . This study focused on the take 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 reprimand agree of 5 would have indicated that the financially educated dead understand the impact of poor money management habits caused by insufficiency of financial education. It further observes that one can lighten practice financial management behaviors whether or not they are financially literate. This is as a result of other on tap(predicate) avenues of acquiring financia l knowledge. Finally, there is significant d! ifference in the midst of those who are comprehend to be financially educated compared to those who are perceived otherwise. We tested the overall data to determine whether the fashion 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 sound essay, bon ton it on our website: OrderCustomPaper.com

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