Financial Literacy in Elderly and Income Distribution.

Abstract

This research consists purposes were 1. to study the financial literacy level of the elderly in Muang Phetchabun District and Chon Daen District, Phetchabun Province 2. to study the level of income distribution 3. to be a guideline for developing financial skills for the elderly and 4. to provide policy recommendations. A research that combines qualitative and quantitative research with research tools such as questionnaires and data analysis from relevant sources. with a sample group is the elderly Lives in Na Ngua Subdistrict, Mueang District, Chon Daen Sub-district and Tha Kham Sub-district, Chon Daen District, Phetchabun Province, 420 people were calculated from the sample size using the Taro Yamane method at the error level of 0.05 derived from stratified sampling. Data collected from questionnaires were then analyzed using descriptive statistics consisting of percentage, mean and comparison by t-test and Multiple Linear Regression Analysis. Data was conducted and executed by the content analysis. The research found that 1) The average financial literacy score of the sample group was 11.34 points out of a full score of 21 points, representing 54% lower than the average score by comparing with the provincial, regional and national average scores. Based on the 2018 Thai Financial Skills Survey Report 2) level of income distribution measured by GINI coefficient was between 0.286 – 0.312 and the relationship between the income distribution and the level of financial literacy did not cause significant differences at significance level 0.05. 3) education level and savings are factors that affects the level of financial literacy. The researcher had been made a document for the elderly with focusing on preparing household accounts and financial health and 4) Policy maker should focus on awareness in preparing for the aging society and support human capital development processes in personal finance.