Determinants of personal financial management practices among Malaysian youth

Rudy Ansar and Brahim Chekima and Suddin Lada and Ming Fook Lim and Mohamed Bouteraa (2023) Determinants of personal financial management practices among Malaysian youth. Asian Economic and Financial Review, 13 (12). pp. 1-13. ISSN 2305-2147

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Abstract

This study examines the factors influencing personal financial management practices among Malaysian youths, with the moderating role of future orientation. This study used the theory of planned behavior as an underpinning theory to predict and understand the factors that influence personal financial management practices among Malaysian youth. The participants in the study are Malaysian individuals aged 15 to 40 years. A total of 119 valid questionnaires were collected and analyzed using structural equation modeling (SEM) with partial least squares (PLS). The data analysis findings revealed significant positive effects of financial attitude and financial literacy on the financial management practices among the Malaysian youth. Additionally, the results demonstrate that future orientation is a moderator, strengthening the associations between financial attitude, financial literacy, and personal financial management practices among young people. This study has two main implications. First, it provides valuable information for Malaysian government organizations and policymakers to develop successful plans for encouraging better financial management among young people. Furthermore, this study contributes to the extant literature on personal financial management practices by offering an alternative strategy to address the growing problem of bankruptcy among the Malaysian youth.

Item Type:	Article
Keyword:	Bankruptcy Financial attitude Financial literacy Future orientation Personal financial management practices Subjective norms Youth.
Subjects:	H Social Sciences > HG Finance > HG1-9999 Finance > HG179 Personal finance H Social Sciences > HG Finance > HG1-9999 Finance > HG3691-3769 Credit. Debt. Loans Including credit institutions, credit instruments, consumer credit, bankruptcy
Department:	FACULTY > Faculty of Business, Economics and Accounting
Depositing User:	ABDULLAH BIN SABUDIN -
Date Deposited:	20 Feb 2024 11:43
Last Modified:	20 Feb 2024 11:43
URI:	https://eprints.ums.edu.my/id/eprint/38324

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