UPM Institutional Repository

The financial status, financial problems and personal well-being of urban poor youths


Sabri, Mohamad Fazli and Moga Dass, Thinagaran (2017) The financial status, financial problems and personal well-being of urban poor youths. International Journal of Academic Research in Business and Social Sciences, 7 (8). pp. 665-672. ISSN 2222-6990


The fast growing economic of Malaysia has impacted more urbanization as the Malaysians migrate to cities to seek employment and education opportunities and resulted in rising living cost. Youth plays a big role in building the nation and rising living cost is one of the financial challenges as they are unable to practice saving behaviour due to their environmental and lead to the use of exploitative lenders and to financial instability and it may leads to financial stress. This study is to to assess their current financial status, financial problems and personal well-being. This study is conducted with 500 youths from 18-40 years old living in low-cost flats with income below RM3000. The respondents consist of 48.7% male and 51.3% female; 70.2% were Malays, 13.1% Chinese and 14.9% Indian and 1.4% consisting of other races. The youths’ main saving and investment portfolio is Employee Provident Fund (EPF) with 69% and less diversification in investment. Urban youths (69%) mostly own motorcycle as asset followed by house (32%), and jewelleries (16.1%). In contrast, 54.3% of them are engaged with mortgage loans and 33.3% with personal loans; the asset to debt ratio revealed that 47% of the have debts more than asset and 34% youths are inadequate of income. The main financial problem is paying bills late (88.9%) and spirituality scores the highest ranking in personal well-being with mean 7.26. Enhancing financial literacy and molding good financial behavior need to be inculcated to the youths as a coping strategy.

Download File

[img] Text
Restricted to Repository staff only

Download (633kB)

Additional Metadata

Item Type: Article
Divisions: Faculty of Human Ecology
DOI Number: https://doi.org/10.6007/IJARBSS/v7-i8/3274
Publisher: Human Resource Management Academic Research Society
Keywords: Financial problems; Personal well-being
Depositing User: Nabilah Mustapa
Date Deposited: 27 Feb 2018 07:00
Last Modified: 27 Feb 2018 07:00
Altmetrics: http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.6007/IJARBSS/v7-i8/3274
URI: http://psasir.upm.edu.my/id/eprint/59283
Statistic Details: View Download Statistic

Actions (login required)

View Item View Item