Religiosity and Financial Decisions of Young Adult Nigerians: Is the Financial Advice of religious leaders Sacrosanct?

Abstract

This paper explores the roles of religious leaders in financial decision making of young adults, and the extent to which adherents comply with money advice of their religious leaders. The study is relevant because it will contribute to what, how and who shapes financial decision of young adults as well as the roles of religious leaders in diffusion of financial innovations. The area of study was Nigeria and 15 congregations were randomly selected. Findings revealed that religious leaders play significant financial roles, their money advice were sacrosanct and strong relationship exist between their financial habits and that of their adherents.

Keywords: Financial Decisions, Young adults, Religiosity, Religious leaders, Financial advice.