Paper Details

This research examined the level of basic financial literacy and self-perceived basic financial literacy amongstadministrative staff of the government universities in Sri Lanka. Based on survey questionnaires in the study, a crosstabulation was carried out using SPSS to examine the differences in financial literacy. Google questionnaires were sentto around 500 members and reminder were send twice. Respond rate was around 10% which is within the 2% to 10%range acceptable in online surveys. The study reveals that most respondents (95.5%) were able to understand the effectof interests. Female, married group and those with a higher level of educational qualifications were more likely to have ahigher level of financial literacy. The challenge now is to standardize a reliable method to evaluate people’s financialliteracy level and then, identify and apply effective public policy and financial literacy training programs, as well asmaking people aware of its importance as a nation. Finally, the findings suggest that we should more efficiently targetawareness programme to subsets of Individuals who reported lower level of financial literacy.

Dr WMKGA Wickramasinghe, “Self- Perceived and Actual Basic Financial Literacy among Admin Staff of Government Universities in Sri Lanka”, International Journal of Advance Engineering and Research Development (IJAERD), Vol. 8, Issue 1, pp. 1-9, January 2021.