Financial Well-Being Scale Practices in Turkey

International Journal of Economics and Management Studies

© 2019 by SSRG - IJEMS Journal

Volume 6 Issue 3

Year of Publication : 2019

Authors : Feride HAYIRSEVER BAŞTÜRK, Burcu OĞUR

10.14445/23939125/IJEMS-V6I3P103

How to Cite?

Feride HAYIRSEVER BAŞTÜRK, Burcu OĞUR, "Financial Well-Being Scale Practices in Turkey," SSRG International Journal of Economics and Management Studies, vol. 6,  no. 3, pp. 15-26, 2019. Crossref, https://doi.org/10.14445/23939125/IJEMS-V6I3P103

Abstract:

Financial well-being deals with factors as ability of individuals to make their payments in time, control their expenditures, cover unexpected expenses and make their financial plans by themselves. Within the scope of this research, relation between financial literacy and financial well-being level is examined, and scales used in literature in measuring financial well- being level are handled. In the application section of the research, Financial Well- Being Scale (CFPB) developed by the Consumer Financial Protection Bureau is used. The population is comprised of university students studying at the university. The students at Bilecik Şeyh Edebali University Applied Sciences College, Department of Banking and Finance within the scope of the research build the research population and it has reached 180 students. It is observed that financial well-being status scores of university students in the age range of 18-21 is semi-high. It is also observed that male scores are higher when examined by gender and financial well- being status score has shown an increase in parallel with the increasing income level when examined by income levels. It is seen that age and gender variables are not determinants in measuring financial well- being status scores of the students attending the research while there is a statistically significant difference in income level at 95% trust level.

Keywords:

financial well-being, financial literacy, level of income.

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