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The relationship between attitude towards money, financial literacy and debt management with young worker's financial well-being


Citation

Abdullah, Nuraini and Sabri, Mohamad Fazli and Muhammad Arif, Afida Mastura (2019) The relationship between attitude towards money, financial literacy and debt management with young worker's financial well-being. Pertanika Journal of Social Sciences & Humanities, 27 (1). pp. 361-378. ISSN 0128-7702; ESSN: 2231-8534

Abstract / Synopsis

Malaysia has since undergone a lot of changes that are affecting its economic structure such as the rising cost of living which is an irreversible phenomenon. Coupled with the rise in the cost of production is the increased in indebtedness putting young worker’s financial well-being at stake. This article attempts to analyse the relationship between attitudes towards money, financial literacy and debt management towards financial wellbeing of young workers. Multi-stage random sampling technique was used for this study in the centre zone of Malaysia. A total of 508 respondents aged 40 and below was selected. Analysis using Pearson’s correlation showed that there were a positive relationship between financial literacy, debt management, attitudes towards money (inadequacy, effort/ability and retention) towards financial well-being. While, multiple regression results showed that all eight variables explained 27.4% of the variance of financial well-being whereby the variable of attitude towards money that is the dimension of ability/effort have a unique contribution towards financial well-being.


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Additional Metadata

Item Type: Article
Divisions: Faculty of Human Ecology
Publisher: Universiti Putra Malaysia Press
Keywords: Attitudes towards money; Debt management; Financial literacy; Financial well-being; Young workers
Depositing User: Nabilah Mustapa
Date Deposited: 10 Apr 2019 10:02
Last Modified: 10 Apr 2019 10:02
URI: http://psasir.upm.edu.my/id/eprint/67841
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