Financial literacy and saving decisions : how can financial literacy be more effective?

• Main Authors: Loong, Wen Bin, See, Kelvin Xue Liang, Lum, Joshua Choen Hong
• Other Authors: He Tai-Sen
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Social sciences::Education; DRNTU::Business::Finance::Interest rates; DRNTU::Business::Finance::Financial management
• Online Access: http://hdl.handle.net/10356/62484
• Institution: Nanyang Technological University

This papers looks at two aspects of financial literacy to investigate the causal factors behind preference for the insurance saving plan over government bonds, when choosing a saving vehicle. Using a survey experiment with 127 NTU undergraduates as subjects, we find that the lack of information on r...