2 results listed
Families act in an environment of financing system
which includes the pressure of the economic powers like the
changing economic balances, increasing unemployment rate,
changing purchasing power of money, inflationist pressures,
increasing tax load, changing government policies, increasing
interest rates, complicating consumer market, and the competence
gradually increasing between the businesses. In such an
environment, the behaviours of family related to usage of the
income on one hand affect the social and economic welfare of
family itself, and on the other hand the national economy and
welfare. In this context, economic functions are of a significant
center for the families to obtain their wishes and needs and to
maintain their lives better and happier. In this article we focus on
families’ financial behaviours. For this purpose we have observed
1) financial status of families, 2) financial decision making forms
of families’, 3) families' financial status evaluation. The sample
consists of individuals, who are working in Kardemir Inc. (n=245).
A total of 245 employees are participated in the study on a
voluntary. Findings indicated that 65.3% of the responses keep
record for income and expenses every month. Economic decision
making are always shared by couple (47.3%).
The rate of monthly income scarcely satisfies needs (46.1%) are
higher among the reasons for not saving. The majority of
participants (89.0%) have stated that their monthly incomes are
not sufficient or scarcely sufficient to satisfy the needs of families
and thus, they cannot make savings. Finally, some
recommendations are suggested for individuals, families,
executives and researchers.
International Iron & Steel Symposium
UDCS
Gülay GÜNAY
Ahmet OĞUZ
Fatih BAYRAM
Murat YILDIRIM
Developments and innovations in financial market, product variety and the complexity of the products’
content entail people to take part in financial system consciously. Recently, the importance of financial
literacy dramatically increased due to some factors such as the rise in people’s responsibility on decisions,
innovations information and communication technology, swift changes in retirement and taxing policy,
demographic changes in population, the failure of individual attempts and financial fraud. Each individual
should be financially literate for financial security and comfort.
Individuals’ self-consciousness on financial issues will not only prepare them for prospective hard economic
conditions that may emerge in the future but also supports the development of the country on strong basis.
In this perspective, the awareness of financial literacy will help to use the limited sources more affectively.
In addition to this, it will also prevent the waste of sources by contributing the economy and improving the
life-standards of the citizens. In this regards, the aim of the study will examine individuals’’ who are working
in Kardemir Inc., financial literacy levels. The sample consists of individuals, who are working in Kardemir
Inc. Data were collected through a demographic information form, Financial Literacy Index developed by
Van Rooji et al. (2011). The obtained data will be evaluated by "SPSS for Window" statistical program.
Finally, the findings are compared with the literature and some recommendations are suggested for
individuals, executives and researchers.
International Iron & Steel Symposium
UDCS
Murat YILDIRIM
Fatih BAYRAM
Ahmet OĞUZ
Gülay GÜNAY