Determinants of Young Working Adults' Financial Management Behavior
Shukriah Saad1, Nur Aqila Mohd Roslan2, Siti Syaqilah Hambali3.
Financial management behaviour is essential as it determines how well an individual manages financial matters. Financial management is a process that involves setting financial goals, budgeting, and planning how income is allocated to meet strategic financial needs. This study aimed to identify the determinants of the financial management behaviour of young working adults. The independent variables were financial literacy, financial attitude, financial well- being, household income, and gender. The quantitative research design was utilized, and the survey method was used for data collection. The self-administered questionnaire was used to collect data from 197 respondents. Cronbach's alpha was used as a measure of reliability. Descriptive statistics, correlation dan multiple regression were adopted for data analysis. The results indicated that financial literacy, attitude, and well-being significantly influence personal financial management behaviour. Recommendations included focusing on other variables such as financial pressure, employers' characteristics, and others for future research. This research will make a significant contribution and provide exciting opportunities for regulators, industries, and the academic environment to understand the current financial situation of a young working adult. This study can also be used as a reference for renewing policy regarding self-financing management.
Affiliation:
- Faculty of Accountancy, Universiti Teknologi Mara, Puncak Alam Campus, 42300 Bandar Puncak Alam, Selangor, Malaysia, Malaysia
- Faculty of Accountancy, Universiti Teknologi Mara, Puncak Alam Campus, 42300 Bandar Puncak Alam, Selangor, Malaysia, Malaysia
- Faculty of Accountancy, Universiti Teknologi Mara, Puncak Alam Campus, 42300 Bandar Puncak Alam, Selangor, Malaysia, Malaysia
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