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Mediating Effect of Financial Behaviour on the Relationship Between Perceived Financial Wellbeing and Its Factors Among Low-Income Young Adults in Malaysia
The main objective of this study is to investigate the associations between financial knowledge, locus of control (LOC) and perceived financial wellbeing (FWB) with financial behaviour as a mediator among young adults from low-income households in Malaysia, controlling for education and income. The...
Autores principales: | , , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Frontiers Media S.A.
2022
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9161296/ https://www.ncbi.nlm.nih.gov/pubmed/35664172 http://dx.doi.org/10.3389/fpsyg.2022.858630 |
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author | Sabri, Mohamad Fazli Wahab, Rozita Mahdzan, Nurul Shahnaz Magli, Amirah Shazana Rahim, Husniyah Abd |
author_facet | Sabri, Mohamad Fazli Wahab, Rozita Mahdzan, Nurul Shahnaz Magli, Amirah Shazana Rahim, Husniyah Abd |
author_sort | Sabri, Mohamad Fazli |
collection | PubMed |
description | The main objective of this study is to investigate the associations between financial knowledge, locus of control (LOC) and perceived financial wellbeing (FWB) with financial behaviour as a mediator among young adults from low-income households in Malaysia, controlling for education and income. The sample of this study consisted of 482 young adults from five different zones in Peninsular and East Malaysia, which were selected using a multi-stage sampling technique. Data were collected using a set of questionnaire-based surveys. The data were then analysed using Covariance Based Structural Equation Modelling (SEM). The study found that financial knowledge and external LOC as well as financial behaviour were significantly correlated with the perceived FWB of low-income young adults in Malaysia. The results also revealed that financial behaviour mediates the influence by financial knowledge and internal LOC on perceived FWB controlling for education and income. The findings of this study provide insights into the factors of perceived FWB of low-income young adults in Peninsular and East Malaysia. Policymakers, government and non-government organisations may utilise this study to develop new policies, financial programmes or campaigns to enhance the FWB of low-income young adults in Malaysia. |
format | Online Article Text |
id | pubmed-9161296 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2022 |
publisher | Frontiers Media S.A. |
record_format | MEDLINE/PubMed |
spelling | pubmed-91612962022-06-03 Mediating Effect of Financial Behaviour on the Relationship Between Perceived Financial Wellbeing and Its Factors Among Low-Income Young Adults in Malaysia Sabri, Mohamad Fazli Wahab, Rozita Mahdzan, Nurul Shahnaz Magli, Amirah Shazana Rahim, Husniyah Abd Front Psychol Psychology The main objective of this study is to investigate the associations between financial knowledge, locus of control (LOC) and perceived financial wellbeing (FWB) with financial behaviour as a mediator among young adults from low-income households in Malaysia, controlling for education and income. The sample of this study consisted of 482 young adults from five different zones in Peninsular and East Malaysia, which were selected using a multi-stage sampling technique. Data were collected using a set of questionnaire-based surveys. The data were then analysed using Covariance Based Structural Equation Modelling (SEM). The study found that financial knowledge and external LOC as well as financial behaviour were significantly correlated with the perceived FWB of low-income young adults in Malaysia. The results also revealed that financial behaviour mediates the influence by financial knowledge and internal LOC on perceived FWB controlling for education and income. The findings of this study provide insights into the factors of perceived FWB of low-income young adults in Peninsular and East Malaysia. Policymakers, government and non-government organisations may utilise this study to develop new policies, financial programmes or campaigns to enhance the FWB of low-income young adults in Malaysia. Frontiers Media S.A. 2022-05-19 /pmc/articles/PMC9161296/ /pubmed/35664172 http://dx.doi.org/10.3389/fpsyg.2022.858630 Text en Copyright © 2022 Sabri, Wahab, Mahdzan, Magli and Rahim. https://creativecommons.org/licenses/by/4.0/This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms. |
spellingShingle | Psychology Sabri, Mohamad Fazli Wahab, Rozita Mahdzan, Nurul Shahnaz Magli, Amirah Shazana Rahim, Husniyah Abd Mediating Effect of Financial Behaviour on the Relationship Between Perceived Financial Wellbeing and Its Factors Among Low-Income Young Adults in Malaysia |
title | Mediating Effect of Financial Behaviour on the Relationship Between Perceived Financial Wellbeing and Its Factors Among Low-Income Young Adults in Malaysia |
title_full | Mediating Effect of Financial Behaviour on the Relationship Between Perceived Financial Wellbeing and Its Factors Among Low-Income Young Adults in Malaysia |
title_fullStr | Mediating Effect of Financial Behaviour on the Relationship Between Perceived Financial Wellbeing and Its Factors Among Low-Income Young Adults in Malaysia |
title_full_unstemmed | Mediating Effect of Financial Behaviour on the Relationship Between Perceived Financial Wellbeing and Its Factors Among Low-Income Young Adults in Malaysia |
title_short | Mediating Effect of Financial Behaviour on the Relationship Between Perceived Financial Wellbeing and Its Factors Among Low-Income Young Adults in Malaysia |
title_sort | mediating effect of financial behaviour on the relationship between perceived financial wellbeing and its factors among low-income young adults in malaysia |
topic | Psychology |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9161296/ https://www.ncbi.nlm.nih.gov/pubmed/35664172 http://dx.doi.org/10.3389/fpsyg.2022.858630 |
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