Financial Knowledge, Attitude and Behaviour of Young Working Adults in Malaysia
Keywords:
Financial attitude and financial literacy, behaviour, knowledge, theory of planned behaviourAbstract
A conceptual model was proposed based on the theory of planned behaviour to examine the relationship between financial knowledge, attitude, behaviour and financial literacy among young working adults in Malaysia. Perceiving financial literacy as a developmental process which includes knowledge and application dimensions, the proposed model was tested on a sample of 1915 young working adults from Klang Valley, Malaysia. Data was analysed using structural equation modelling (SEM). Results indicated financial education positively influenced financial knowledge which in turn, significantly predicted both financial attitude and behaviour. Attitude partially mediated the effect of knowledge on behaviour. Analysis revealed that in terms of financial attitude, “future and non-impulsiveness†was significant while in financial behaviour, “expenditure monitoring and saving behaviour†was critical. In terms of ethnic background, the Chinese possessed the highest financial knowledge and behaviour while Indians possessed the highest financial attitude. No gender difference was noted on any relationships. Initiatives and interventions on making financial education accessible as well as gradual change of attitude are recommended for immediate actions.
Downloads
Downloads
Published
How to Cite
Issue
Section
License
Submission of a manuscript implies: that the work described is original, has not been published before (except in the form of an abstract or as part of a published lecture, review, or thesis); that is not under consideration for publication elsewhere; that its publication has been approved by all co-authors, if any, as well as tacitly or explicitly by the responsible authorities at the institution where the work was carried out. Transfer of copyright to the University of Malaya becomes effective if and when the article is accepted for publication. The copyright covers the exclusive right to reproduce and distribute the article, including reprints, translations, photographic reproductions, microform, electronic form (offline and online) or other reproductions of similar nature.
An author may self-archive the English language version of his/her article on his/her own website and his/her institutions repository; however he/she may not use the publishers PDF version which is posted on www.ijie.um.edu.my. Furthermore, the author may only post his/her version, provided acknowledgement is given to the original source of publication and a link must be accompanied by the following text: The original publication is available at www.ijie.um.edu.my.
All articles published in this journal are protected by copyright, which covers the exclusive rights to reproduce and redistribute the article (e.g. as offprint), as well as all translation rights. No material published in this journal may be reproduced photographically or stored on microfilm, in electronic database, video disks, etc., without first obtaining written permission from the publishers. The use of general descriptive names, trade names, trademarks, etc., in this publication, even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.
The copyright owners consent does not include copying for general distribution, promotion, new works, or resale. In these cases, specific written permission must first be obtained from the publishers.
