Siti Raihana HamzahAfeefah Mohd FakhruddinNorizarina IshakAhmad Fadly Nurullah Rasedee2024-11-112024-11-1120242024-11-11Siti Raihana Hamzah Afeefah, Mohd Fakhruddin, Norizarina Ishak & Ahmad Fadly Nurullah Rasedee Covid-19 Financial Relief Scheme: An Analysis of Financial Literacy and Financial Anxiety Among Malaysian Population. (2024). International Journal of Advanced Research in Economics and Finance, 6(3), 179–193. https://doi.org/10.55057/ijaref.2024.6.3.142682-812X2048-1010.55057/ijaref.2024.6.3.14https://oarep.usim.edu.my/handle/123456789/24736https://myjms.mohe.gov.my/index.php/ijaref/article/view/28023/15587International Journal of Advanced Research in Economics and Finance,Volume 6 Issue 3 Page (179–193)This study examines financial literacy and its association with financial anxiety among the Malaysian population during the Covid-19 pandemic. Specifically, it evaluates the public’s understanding of the government’s financial relief initiatives, such as the Moratorium and EPF withdrawal schemes (i-Sinar, i-Lestari, and i-Citra). Using a survey of 372 respondents, the research measures financial literacy and anxiety levels through a Likert-scale questionnaire incorporating the Financial Anxiety Scale (FAS). Results indicate that only 9% of respondents demonstrated high financial literacy concerning these relief schemes, with factors like age and education significantly influencing literacy levels. The study also reveals a positive correlation between financial literacy and financial anxiety. These findings underscore the need for improved financial education to mitigate financial stress, particularly in crisis situations like the pandemic.en-USfinancial literacyfinancial anxietyCovid-19moratoriumEPFMalaysiatext::journal::journal article::research article17919363