Financial Literacy & Personal Finance in Cape Coast.

      Аннотация: The study aimed generally to determine the scope of financial literacy and personal financing by people in the Cape Coast Metropolis. 436 respondents from cluster sampling were used in the analysis. The various components and factors of financial literacy and personal finance were determined. Factor analysis helped to ascertain which indicators, from various scenarios responded to, described the relationship between financial literacy and personal finance in the metropolis; as analyzed with Pearson’s bivariate correlations method. Personal finance overall, showed elements of savings, investments, financial planning for periods averaging three months at a time and a conflict of financial advice sources between financial professionals and friends and relatives - but not individual’s self-efforts to acquire relevant financial decision making knowledge. Results determined that financial literacy and personal finance were generally low in the metropolis but that financial literacy and personal finance components do translate into financial literacy factors and subsequently into personal financing concerns.

Ключевые слова: personal finance, financial literacy, behavioral finance