Rahman, Mahfuzur and Isa, Che Ruhana and Masud, Muhammad Mehedi and Sarker, Moniruzzaman and Chowdhury, Nazreen T. (2021) The role of financial behaviour, financial literacy, and financial stress in explaining the financial well-being of B40 group in Malaysia. Future Business Journal, 7 (1). ISSN 2314-7202, DOI https://doi.org/10.1186/s43093-021-00099-0.
Full text not available from this repository.Abstract
Understanding the financial well-being of lower-income group is a critical concern of any government as this group struggles most to meet up with their necessities. Despite the significance, little is known about financial well-being of low-income group. This study attempts to investigate the relationship between financial literacy, financial behaviour, financial stress, and financial well-being of B40 group in Malaysia. A total of 412 usable responses was derived from a survey in Klang Valley and analysed the data following partial least squares structural equation modelling (PLS-SEM) techniques. The results demonstrate that financial behaviour is the key antecedent followed by financial stress and financial literacy in predicting financial well-being. Hence, balancing between income and expenditure, managing financial stress, and increasing financial literacy would be necessary to assure financial well-being of lower-income group people. Governmental and institutional interventions are essential to equip the low-income group people with employment opportunities and financial knowledge to manage their basic living standards.
| Item Type: | Article |
|---|---|
| Funders: | Fundamental Research Grant Scheme (FRGS) [FP058-2017A] |
| Uncontrolled Keywords: | Financial well-being; Financial behaviour; Financial literacy; Financial stress; Malaysian B40 income group |
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce > Business |
| Divisions: | Faculty of Business and Economics > Department of Accounting Faculty of Business and Economics > Department of Development Studies Faculty of Business and Economics > Department of Finance |
| Depositing User: | Ms Zaharah Ramly |
| Date Deposited: | 07 Sep 2022 02:35 |
| Last Modified: | 07 Sep 2022 02:35 |
| URI: | http://eprints.um.edu.my/id/eprint/35100 |
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