학위논문(석사)--Graduate School of International Studies Ajou University :국제경영학과,2022. 2
Alternative Abstract
In this digital age where information is accessible, numerous people are still illiterate on the process of investment, its risks, and returns. This is arguably one of the major problems for most developing countries, especially the Philippines. This paper aims to address the factors that affect financial decisions negatively and look for the hole in achieving one's financial goals and improving retirement preparedness. This paper discussed several types of Investment Platforms such as Property Investment, Variable Universal Life Insurance, Mutual Funds, Real Estate, and other financial investments. The data was collected from 211 respondents, 131 from Local Filipino Workers (LFW), and 80 Overseas Filipino Workers (OFW) from the United Arab Emirates ages 20 - 60 years old. Using this data, this paper proved that the degree of awareness Filipinos have on investing, regardless of the country they are residing in, is between low and very low due to lack of financial literacy. We found out that this does not only affect their budget allocation, but also their investment decision. This paper revealed that even if OFW are earning much more than LFW, inadequate income is their given major reason for not investing. Therefore, we concluded that lack of financial literacy affects the budgeting behavior and investment decision of an individual. Hence, it is recommended to improve financial literacy to achieve financial goals and improve retirement preparedness.
