Lilian Gumbo|Blessed Mveku|Chosani Simon|Tanaka. T. T. Mutero|Carouselia E. Cornick
THE EFFECT OF FINANCIAL LITERACY ON HOUSEHOLD FINANCIAL DECISION MAKING IN ZIMBABWE
Midlands State University|Midlands State University|Midlands State University
research paper explored effect financial literacy household financial decision making zimbabwethe main objectives determine effect financial literacy financial decision making explore factors influence household financial decision makingthe study used mixed methods research design sample drawn using convenience samplingthe study used logistic regression analysis model results study well thematic analysis analyse qualitative datathe statistical package stata 11 used run logistic regression analysis sample 140 participantsthe regression results established financial literacy level education level income major determinants household financial decision making variables statistically significant 95 level confidencequalitative interviews established macroeconomic fundamentals previous experiences advice family friends factors influence household decision makingthat level inflation exchange rates bank charges previous experiences financial institutions financial advice children friends largely influence household financial decision makingthe study recommends government introduce basic concepts financial literacy courses subjects schools technical colleges university part curricula make compulsoryhousehold heads improve financial literacy capabilities consider formal financial advice making financial decisions