The influential relationship of financial knowledge in the formation of financial surplus An exploratory study of the opinions of a sample of faculty and staff at the College of Business and Economics - University of Duhok
Individuals may face in their daily life a number of financial risks and problems, which come from many factors, including their inability to organize their financial affairs, or due to financial ignorance or illiteracy, or as a result of poor levels of financial awareness. These factors, as a whole, fall within the individual's financial knowledge, which may contribute to improving the individual's abilities to control his financial resources and the means of acquiring and spending them. Also, individuals in their endeavor to meet their living requirements try to avoid financial problems that may hinder them from achieving financial surplus, which can be directed towards investment or saving, or both together. Therefore, the current research aims to study the effect of financial knowledge possessed by individuals in forming financial surplus.
The current research is a study of the opinions of a sample of faculty and staff to determine the effect of financial knowledge dimensions on the personal level in shaping their financial surplus. The research was based on the descriptive approach and by making use of the questionnaire prepared for the purpose of collecting data, as the responding sample reached (52) individuals, distributed between (29) teachers and (23) employees in the researched faculty, and the statistical software (SPSS V. 25) was adopted. In completing the required statistical analyzes.
The most important conclusions indicate that there is a positive and positive link and effect between financial knowledge and financial surplus, and one of the most important proposals was to have a study program at universities and educational and academic institutions in providing individuals with financial knowledge that enables them to manage and organize their financial resources.
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