Financial Literacy: a Comparative Analysis Between Employees and Farmers
Starting from James Gilbart's view that everyone should have the ability to understand money and its benefits. The ability to understand then becomes the forerunner to the birth of financial literacy, which is interpreted as a person's ability to process economic information and make...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Society for Innovative Agriculture
2025-01-01
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| Series: | Journal of Global Innovations in Agricultural Sciences |
| Online Access: | https://www.jgiass.com/pdf-reader.php?file=Financial-Literacy:-a-Comparative-Analysis-Between-Employees-and-Farmers.pdf&path=issue_papers |
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| Summary: | Starting from James Gilbart's view that everyone should have the ability to understand money and its benefits. The ability to understand then becomes the forerunner to the birth of financial literacy, which is interpreted as a person's ability to process economic information and make the right decisions related to financial planning. This study seeks to examine theoretical and empirical evidence comparatively regarding the importance of financial literacy for those who work as employees of a business entity and those who work as farmers. Comparative Studies are used to increase the knowledge base and important issues that are the topics of further research. This study uses a systematic literature review design based on relevant journals and scientific reports. The search for journal sources is carried out through the following stages; a) Searching for journals using two keywords, namely "The Role of Financial Literacy for Business Actors and Employees" and "Financial Literacy for Farmers"; b) Reputable international journals and/or registered in international databases; and c) Journals published in the last five years, namely 2020-2024. The search results produced 56 journals, consisting of 45 journals themed "The Role of Financial Literacy for Employees" and 11 journals themed "Financial Literacy for Farmers". The data obtained were then analyzed descriptively. The results of the analysis found that the internalization of the importance of financial literacy is still focused on the company level with an employee base, and there is still little discussion of the topic of financial literacy for farmers. It was also found that financial literacy at the employee level is better than that of farmers. On average, farmers have financial literacy in the low category. A significant implication is that there must be new ideas in efforts to internalize financial literacy for farmers, considering the complexity of farmers' businesses that are vulnerable to financial risks. The next implication is that further investigation is needed to produce new ideas regarding the financial literacy model for employees during retirement and in old age for farmers. The results will later become a reference for the Government as a regulator to prepare a scheme to improve the intended literacy. |
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| ISSN: | 2788-4538 2788-4546 |