Analysis of Technology Acceptance Model (TAM) for Financial Literacy on Kids
Application Technology
Nurhanani Romli1, Mohd Faiz MohamedYusof2, Emilda Hashim3,Norasibah Abdul Jalil4,
Mohd Yahya Mohd Hussin5, Mohd Faisal Mohamed Yusof6
1,3,4,5Lecturer, Sultan Idris Education University, Perak, Malaysia
2Lecturer, Academy of Contemporary Islamic Studies, Universiti Teknologi MARA, Shah Alam 6ResearchOfficer, Agensi AngkasaMalaysia (MYSA)
nurhanani@fpe.upsi.edu1
Article History: Received: 10 November 2020; Revised: 12 January 2021; Accepted: 27 January 2021;
Published online: 05 April 2021
Abstract: Financial literacy was very important to be introduced since the early children. In Malaysia, the children began to
start for formal education of the stage in preschool. This paper will discuss about the acceptance of technology as a method to teach that kids for financial literacy. With the development in technology at present, using of teaching based on technology was very important for all levels including children at preschool age. The Technology Acceptance Model (TAM) was widely used in studies related to the use of technology applications in society. There are two factors variables that will test on this paper. The first one was perceived useful and the second one was easy to use. Quantitative method will be used to collect all of data. The questionnaire survey was distributed to a total of 136 respondents which it’s have been use the financial literacy application incorporated as a tools to teach the kids. Findings of the study indicate the importance of technology as a medium to teach kids regarding the financial literacy.
Keywords: Kids, Financial Education, Application.
1. Introduction
Education in Preschool was a program that provides the experience of learning for child's from 4 years old until 6 years old in a period of time one a year per session before entering into Year One. During that time, the children who attend the sessions of preschool for essentiallybeen exposed to basic financial literacyas preparation for entering the primary school. In general, levels of literacy for an individual, especially those children can be influenced by factors of socioeconomic such as the level of their guardian education, household income and also working background of their guardian.Families with good background of education, tend to have a good level of financial literacy(Lusardi&Mitchell, 2011). Economic based financial education programs are very important for the benefit of children (Andrew & Scott, 2020). In strengthening further for financial literacy in Malaysia, StrategiLiterasiKewangan Kebangsaan 2019-2023has been introduced with the aim to providea guidancefor financial literacy among Malaysianthat can give the impact and effective for the collective.The main goal of this strategy was to intensify further for financial education in improving the literacy of the people in Malaysia, as one of the preconditions for strengthening the well-being of them. There are five mainstrategy in the StrategiLiterasiKewangan Kebangsaan 2019-2023 and between the base of the main wasto educate since the age of early ageby add the elements of basic education finance in the curriculum of schools from preschool until secondary. The situation was clearly indicated that the financial education literacywas desirable initiated since the level of pre-school(Lusardi, Mitchell dan Curto, 2009). The Results Of Knowledge Obtained By Children, They Will Be Able To Practice In Daily Life. (Shekinah et.al, 2020).
In line with the development of technology in the present, using the application as a medium of education literacy instructionfor children getting much use when a session of teaching was carried out . Based on theory of cognitive, level of learning was said to occur with more good and more easily when going through observation and recognition of objects (visual, sound , etc.) which refers to the elements of multimedia, rather than learning that was depends on reading material written solely as books in general . The process of teaching and learning through the application of a medium for transferring an information from the text of a static to a pattern of learning new a more attractive, dynamic and interactive.(Turkkila&Lommi, 2020).
For children ages from 2 till 7 years, the learning process was known as the preoperational stage. At this stage, children will begin to develop their memory and imagination. At this stage, children believe that they are able to connect the past concept to be associated with future concepts.This could be achieved with the help of multimedia in addition to the text as audio, video, animation and graphics(Jamalludin&Zaidatun,2005). When kids hear the explanation text while looking at the chart related to display,kids will try to understand the material presentation by selecting text and graphics that are relevant for the active, organize them into a model of verbal
have the ability to vary in receiving an information and remember it. According to Dale (1969) on the general student only can remember :10% of what that they read, 20% of what that they hear, 30% of what that they see, 50% of what that they hear and see, 70% of what that they say and write and 90% of what that they say like that they do.
Figure 1.Dale’s Cone of Experience 2. Methods
This research was adopting the Technology Acceptance Model (TAM) to provide information on factors that influence the adoption and success of kid's financial education applications. Based on previous studies, TAM is the most commonly used model in understanding the factors that influence technology adoption.Juan, Chao&Francisco(2006) in his study also expand the model TAM in understanding the technology of e- learning. On others study, Yu (2018) have used the model TAM in understanding the intentions of customers when using services purchases in online.
Studies have identified certain factors that affect the acceptability of use in teaching education finance kids preschool in Malaysia. Figure 2.shows, a study model for the adoption of technology in children's financial education in Malaysia. Adoption Technology of children's financial education is a dependent variable in research while the factors that influence technology adoption are perceived usefulness and Perceived ease-of-use. These two factors have to be used to measure the extent to which the revenue guard in accepting the use of technology as a method of teaching of literacy to children of preschool.
According to the model TAM perceived usefulness was identified as the belief of individuals that the use of systems that are being used are working to increase capacity in improving the performance of things that are being done ( Davis et al, 1992). Instructor believes by using online learning technology will able to improve the performance of children's learning comprehension related to financial literacy. Once the online teaching method is used, through the instructor's observation, the preschool child will improve the performance of understanding related to financial literacy compared to not using technological facilities. (Davis, 1993). The study conducted by Mathwick (2001) also agrees that the use of technology is meant as perceived usefulness seeing the ability of the use of such technology to improve the teaching performance that is being done.The second variable in the TAM model is Perceived ease of use. This variable was defined as the level of the individual's belief that the use of the technology being used for easy and free from difficulties. The use of online teaching methods to preschool children in this study will explain that the instructor feels this online method was easy to use when teaching sessions are conducted (Davis, 1989). Overall, the TAM Model can be illustrated with the diagram below.
Figure2.Technology Acceptance Model
Hypothesis is a statement made in a study to predict the results of this research based on inductive methods. According to Neuman (2014), the research hypothesis is one way to predict the relationship between variables. This research hypotheses are:
H01= There is no significant influence between perceive usefulness and kid’ online financial education
acceptance.
Hα1= There is significant influence between perceive usefulness and kid’s online financial education acceptance.
H02= There is no significant influence between perceive ease of use and kid’s online financial education apps
acceptance.
Hα2= There is significant influence between perceive ease of use and kid’s online financial educationacceptance.
3. Results and Discussion
Closed-ended questionnaires were used as instruments to collect data. The reasons for choosing this closed-ended questionnaire were because of involved a variety options and respondents were asked to mark their answers. All questions are clear and concise to ensure that respondents can understand and complete the questionnaire. The question was adapted from Amin et. al. (2014).
Table 3.1.Description of Research Instrument
Variable Number of questions Reference
Perceive usefulness 5 Amin et. al. (2014)
Perceive ease of use 5 Amin et. al. (2014)
Reliability and Validity
Reliability is the degree to measures free from error and to yield for consistent result (Zikmund, 1994). Reliability is the measures of the internal consistency and stability of the measuring devices.The reliability test has been conducted towards the dependent and independent variable. The cronbach’s alpha test using SPSS is conducted towards data in the survey.According to Sekaran (2003), the cronbach alpha coefficient reflects the level of items is correlated with each other. The reliability coefficient in the range of 0.7 was acceptable and the 0.8 and above are considered as good. The assumption on the cronbach alpha is the closer the cronbach’s alpha towards 1 the higher its internal consistency reliability.The result for actually reliability test in Table 3.2 shows that the entire variable is reliable. All the value of cronbach’s alpha was more than 0.7. The strength of the association is considered as very good.
Table 3.2.Reliability Test for Variable
Variable No. of Items Cronbach’s Alpha Value
Actual Analysis (n=169)
Perceive usefulness 5 0.978
Perceive ease of use 5 0.971
Population and Sampling
The population for this study was individuals who have experience using online teaching methods to children in the preschool age range. The reason for choosing individuals who have used online teaching applications is justified because the target respondents are familiar with the education system and should have the facility to access the use of technology in teaching to children under their care. The total population is 300. According to Sekaran (2003), the best sample size for this population is 169.
Data analysis
Descriptive analysis will be used in this research to determine the percentage of respondents' profiles in terms of gender, age, education and employment status. Descriptive statistics were also used to measure the level of perceived use and perceived ease of use. To measure the level for all variables the score values and standard deviations will be used. Linear multiple regression was used in the hypothesis to determine whether the independent variable explains the significant variation of the dependent variable. In addition, multiple linear regressions are also used to identify the relationship that exists between independent and dependent variables. (Malhotra, 2004). Multiple regression analysis was used to determine the group of independent variables, which were found to be useful and felt to be easy to use, kids online education application acceptance was used as a dependent variable and both factors will be tested to identify teacher acceptance into online application to children.
Profile of Respondents
Descriptive analysis will be used to analyse the profiles of the respondents in this study. Descriptive statistics were used to analyse in understanding the data and descriptions of the entire respondents involved in the study. The profiles of the respondents analyse in this study include gender, age of the respondents, higher education, and monthly income. A summary of respondents' profiles is scheduled in Table 3.3.
Table 3.3.Summary of Profile of Respondent
Items Category Frequency
(n=169) Percentage (%) Gender Male Female 71 98 42.0 58.0 Respondent age 20 years old and below
21-30 years 31-40 years 41-50 years 51 years and above
37 61 32 19 20 21.9 36.1 18.9 11.2 11.8 Highest education SPM STPM/CERTIFICATE/DIPL OMA Bachelor Degree Masters Degree PHD 12 32 58 43 24 7.1 18.9 34.3 25.4 14.2 Monthly income RM 900 and below
RM 901- RM 1000 RM 1001-RM 3000 RM 3001-RM 6000 RM 6001 and above 90 3 8 48 20 53.3 1.8 4.7 28.4 11.8
Based on table 3.3, this study includes a total of 169 respondents. The sample consisted of 71 males and 98 females. The percentage of male respondents was 42% while female respondents accounted for 58% of the total sample size.The age of the respondents was divided into five categories in the survey. Respondent age was used to analyse whether age was one of the acceptance factors in the use of online applications of teaching. Financial education of children. The majority of respondents are from the age of 21-30 years which includes 61
respondents (36.1%). Higher education among the respondents is between the undergraduate and graduate levels. The number of respondents with a bachelor's degree is 58 people (34.3%). While the number of respondents with a master's degree is 43 people (25.4%). Respondents' monthly income is divided into several groups.
Level of Kids Apps Acceptance and Determinant Factors
The overall mean score for all items in the survey showed a high positive mean. Items in the survey consisted of 25 items with all variables measured on a 5-point scale. All items in the survey had high positive numbers with a range of 3.9041 to 4.0166. The level of acceptance in the application of children's financial education is considered high with a mean of 3.9491. This indicates that the majority of respondents showed positive feedback on the acceptance of child financial education applications.
Table 3.4.Level of Kid’s application acceptance and determinant factors
Variables Mean
Kid’s Application Acceptance 3.9491
Perceive usefulness 4.0166
Perceive ease of use 3.9728
To identify the factors that influence the acceptance of children's financial education applications using telephones in Malaysia, research conducted a double regression analysis to understand the factors that influence the acceptance of mobile financial education applications in Malaysia. Multiple linear regression analysis was performed on all independent variables with acceptance of the child financial education application.
Table 3.5.Results of Multiple regressions Analysis for Technology Acceptance Model
Variable Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta Constant .098 .105 .983 .350 Perceive usefulness .194 .061 .196 3.157 .002
Perceive ease of use
.208 .084 .206 2.462 .015
To identify the significant influence between the use of benefits and the acceptance of children’s financial education applications, this study has put forward a hypothesis. Regression analysis showed that between the acceptance of use and the acceptance of the application of children's financial education is the value of B = 0.194 and sig = 0.002. This means that an increase of one unit in feel of use will increase 0.194 units of acceptance of children's financial education applications. Null hypothesis rejected. Thus, there is a significant influence between the use of benefits and the acceptance of mobile applications of financial education of children. These findings show that educators feel that the use technologies applications as a teaching medium in improving their teaching performance and benefit of children. To identify the significant influence between the acceptance of ease of use and the acceptance of financial education applications of children, this study has put forward a hypothesis. The result of the various regressions between the acceptance of ease of use and the acceptance of the application of financial education of children is the value of B = 0.208 and sig = 0.015. This means that an increase in one unit of perceived ease of use will increase 0.208 units of acceptance of children's financial education applications. Null hypothesis rejected. Thus, there is a significant influence between looking at the ease of use and acceptance of children's financial education applications. This situation shows that easy to operate applications is an important factor to ensure the use of this mobile teaching technology is accepted. Difficulty handling an application will cause teachers not to be interested in using mobile teaching applications.
4. Discussion
Based on the study that has been carried out all the objectives outlined in the early stages of the study have been achieved as a whole. The objective of this research was to identify the factors that influence the acceptance
that there are two important factors that influence the acceptance of children's financial education applications in Malaysia.
The first factor was the perceived benefits of use. The perceived usefulness was the level at which users use their child's financial education applications as it will improve their performance in the teaching and learning process. Multiple regression analysis shows that perceived usefulness was a factor influencing the acceptance of children's financial education applications in Malaysia. Therefore, it can be concluded that users use child financial education applications because it can help improve their performance in the teaching and learning process.
The second factor influencing the acceptance of children's financial education applications in Malaysia was ease of use. The ease of use felt is the teacher's ability in understanding the system and this depends on the clear and understandable information provided by the system and understood about the system requires by effort from the user in understanding the system (Davis, 1989). Successful systems that achieve ease of use that are felt and understood by the user are usually referred to by the user as a user-friendly system.
Propose of Conceptual Model forkid’s financial education apps Acceptance in Malaysia
From the analysis, the research found that there are two factors that significant in influencing the kid’s financial education apps acceptance in Malaysia. The factors that are significant in influencing the kid’s financial apps acceptance are perceive usefulness and perceive ease of use .The conceptual model for kid’s financial acceptance in Malaysia was developed as shown in Figure 3.
Figure 3. Conceptual Model for kid’s financial application acceptance in Malaysia 5. Conclusion
In conclusion, based on this research, there are two important factors that influence the acceptance of the use of education application technology to preschool children in Malaysia during the teaching session. Multiple linear regression analysis performed between independent and dependent variables found that influencing the acceptance of children's financial education applications in Malaysia was perceived usefulness and easy to use of the systems. Kid's financial applications can actually adapt the concept of Technology Acceptance Model (TAM). The factors that influence the acceptance of kidsfinancial applications in Malaysia will actually increase the use of kids financial education applications in the future.
6. Acknowledgment
This research was supported by Sultan Idris Eduation University and research under GeranPenyelidikanKhas Universiti Berteraskan Pendidikan 2017, Financial Education Programme fot Preschool Children: Development and Evaluation, Project Code 2017-0259-107-01. Thank you so much.
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