The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers

Indonesian migrant workers (IMW) face life difficulties after returning back to Indonesia. This is a contrary condition considering their contribution to their home family in Indonesia while working abroad. Literature mentions that their financial planning is the root of the poverty of ex-IMW. Th...

Full description

Bibliographic Details
Main Authors:	Brahmana, Rayenda Khresna, Brahmana, Ritzky Karina
Format:	Article
Language:	English
Published:	University of Economics, Prague 2016
Subjects:	HG Finance
Online Access:	http://ir.unimas.my/16947/ http://ir.unimas.my/16947/ http://ir.unimas.my/16947/ http://ir.unimas.my/16947/1/THE%20FINANCIAL%20PLANNING%20AND%20FINANCIAL%28Abstract%29.pdf

id	unimas-16947
recordtype	eprints
spelling	unimas-169472017-07-19T06:31:44Z http://ir.unimas.my/16947/ The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers Brahmana, Rayenda Khresna Brahmana, Ritzky Karina HG Finance Indonesian migrant workers (IMW) face life difficulties after returning back to Indonesia. This is a contrary condition considering their contribution to their home family in Indonesia while working abroad. Literature mentions that their financial planning is the root of the poverty of ex-IMW. Therefore, this research adopts literacy theory to explain this phenomenon. This research conducted a survey among 548 ex-IMW and measures their financial literacy and financial planning. This research also maps their asset ownership to examine the relationship between financial literacy and asset ownership. Overall, this research documents that financial literacy contributes statistically significantly and positively to financial planning. Furthermore, this research shows that asset ownership is closely related to financial literacy. In a nutshell, this research concludes that it is important for migrant workers to have good knowledge of financial issues, because having good financial literacy helps the migrant workers to plan their finance and budget much better, thereby helping them to avoid the poverty trap. Therefore, policymakers such as migrant worker authorities and/or Indonesian embassies abroad have to institute financial education programmes for migrant workers before they return to Indonesia. University of Economics, Prague 2016 Article PeerReviewed text en http://ir.unimas.my/16947/1/THE%20FINANCIAL%20PLANNING%20AND%20FINANCIAL%28Abstract%29.pdf Brahmana, Rayenda Khresna and Brahmana, Ritzky Karina (2016) The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers. Acta Oeconomica Pragensia, 24 (5). ISSN 0572-3043 https://www.vse.cz/aop/ DOI 10.18267/j.aop.557
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Malaysia Sarawak
building	UNIMAS Institutional Repository
collection	Online Access
language	English
topic	HG Finance
spellingShingle	HG Finance Brahmana, Rayenda Khresna Brahmana, Ritzky Karina The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
description	Indonesian migrant workers (IMW) face life difficulties after returning back to Indonesia. This is a contrary condition considering their contribution to their home family in Indonesia while working abroad. Literature mentions that their financial planning is the root of the poverty of ex-IMW. Therefore, this research adopts literacy theory to explain this phenomenon. This research conducted a survey among 548 ex-IMW and measures their financial literacy and financial planning. This research also maps their asset ownership to examine the relationship between financial literacy and asset ownership. Overall, this research documents that financial literacy contributes statistically significantly and positively to financial planning. Furthermore, this research shows that asset ownership is closely related to financial literacy. In a nutshell, this research concludes that it is important for migrant workers to have good knowledge of financial issues, because having good financial literacy helps the migrant workers to plan their finance and budget much better, thereby helping them to avoid the poverty trap. Therefore, policymakers such as migrant worker authorities and/or Indonesian embassies abroad have to institute financial education programmes for migrant workers before they return to Indonesia.
format	Article
author	Brahmana, Rayenda Khresna Brahmana, Ritzky Karina
author_facet	Brahmana, Rayenda Khresna Brahmana, Ritzky Karina
author_sort	Brahmana, Rayenda Khresna
title	The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
title_short	The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
title_full	The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
title_fullStr	The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
title_full_unstemmed	The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
title_sort	financial planning and financial literacy of ex-malaysia indonesian migrant workers
publisher	University of Economics, Prague
publishDate	2016
url	http://ir.unimas.my/16947/ http://ir.unimas.my/16947/ http://ir.unimas.my/16947/ http://ir.unimas.my/16947/1/THE%20FINANCIAL%20PLANNING%20AND%20FINANCIAL%28Abstract%29.pdf
first_indexed	2018-09-06T16:32:43Z
last_indexed	2018-09-06T16:32:43Z
_version_	1610876519788314624

The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers

Similar Items