ISSN: 2222-6990
Open access
Financial well-being is one of the elements of well-being and it was explained where an individual can control the financial matter on current life and future life as well without feeling worries on his or her financial situation and it is vital to get better quality of life. Therefore, this study aims to analyses the factors that influencing financial well-being among students in Malaysian public university. Three variables are tested for this study namely, financial knowledge, financial attitude, and locus of control. The sample for this study consisted of 54 students participated in the survey using purposive sampling. The data collected via online form. Multiple regression analysis is employed to analyse the data gathered. The findings revealed that there was a significant relationship between financial knowledge and financial attitude with financial well-being. However, there was an insignificant effect between with locus of control towards well-being. The results could be used as guide to related government agencies, financial institutions, and the individual as well in understanding the important of financial well-being to curb from facing financial problem and to sustain the quality of life from young age.
Arifin, A. Z. (2017). The influence of financial knowledge, control and income on individual financial behavior. European Research Studies Journal, XX (3A), 635-648
Falahati, L., & Paim, L. (2011). Gender differences in financial well-being among college students. Australian Journal of Basic & Applied Science, 5(9):1765-1776. ISSN 1991-8178
Fitra, H., Rasyid, R., & Susanti, Y. (2018). The influence of locus of control and financial knowledge to employee investing decision PT. Pertamina (Persero) Branch of Padang. In Proceeding of the First Padang International Conference on Economics Education, Economics, Business and Management, Accounting and Entrepreneurship (PICEEBA 2018) (Vol. 57, pp. 174-184).
Gutter, M., & Copur, Z. (2011). Financial behaviors and financial well-being of college students: Evidence from a national survey. Journal of Family and Economic Issues, 32 (4), 699-714
Jariah, M. (2007). Testing of Malaysia’s financial well-being scale. Paper presented in the Seventh Biennial Conference 2007.
Kholilah, N. Al., & Iramani, R. (2013). Studi Financial Management Behavior Pada Masyarakat Surabaya, Journal of Business and Banking, 3(1), 69.
Leach, L. J., Hayhoe, C. R., and Turner, P. R. (1999). Factors affecting perceived economic well-being of college students a gender perspective. Financial Counselling and Planning, Vol. 10 No. 2, pp.11-23
Marsh, B. A. (2006). Examining the personal financial attitudes, behavior and knowledge levels of first year and senior students at Baptist University in the State od Texas Bowling Green State University.
O’Neill, B., Xiao, J. J., Sorhaindo, B., & Garman, E. T. (2005). Financially stressed consumers: Their financial practices, financial well-being and health. Financial Counselling and Planning, 16 (1), 73-87
Perry, V. G., & Morris, M. D. (2005). Who is in control? The Role of Self-Perception, Kowledge, and Income in explaining Consumer Financial Behavior. Journal of Consumer Affairs, 39(2), 299-313
Prawitz, A. D., Garman, E. T., Sorhaindo, B., O’Neill, B., Kim, J., & Drentea, P., (2006). Incharge Financial Stress/Financial Well-Being Scale: Development, Administration and Score Interpretation. Journal of Financial Counselling and Planning, 17 (1), 34-50
Mohamed, N. A. (2017). Financial Socialization: A Cornerstone for Young Employee’ Financial Well-Being. Report on Economics and Finance, Vol. 3, 2017, no. 1, 15-35
Mokhtar, N., Husniyah, A., Sabri, M., & Talib, M. A. (2015). Financial well-being among public employees in Malaysia: a preliminary study. Asian Social Science, 11 (18), 49.
Mokhtar, N., and Husniyah, A. (2017). Determinants of financial well-being among public employees in Putrajaya. Pertanika Journal Science and Humanities 25(3):1241-1260
Pankow, D. (2003). Financial values, Attitude and goals, North Dakota State University Fargo, North Dakota
Renaldo, N., Sudarno, S., & Hutahuruk, M. B. (2020). The improvement of Generazation Z Financial Well-Being in Pekanbaru. Jurnal Manajemen Dan Kewirausahaan. Vol. 22, No.2.
Sabri, M. F., Cook, C. C., & Gudmunson, C. G. (2012). Financial well-being of Malaysian college student. Asian Education Development Studies. Vol 1, Issue 2.
Sabri, M. F., & Zakaria, N. F. (2015). The Influence of Financial Literacy, Money Attitude, Financial Strain and Financial Capability on Young Employees’ Well-Being. Pertanika Journal of Social sciences & Humanities, 23(4), 827-848.
In-Text Citation: (Rafien et al., 2022)
To Cite this Article: Rafien, N. S. M., Awang, A. H., & Kamis, R. (2022). The Effects of Financial Knowledge, Financial Attitude and Locus of Control on Financial Well-Being among Students in Malaysian Public University: An Empirical Investigation. International Journal of Academic Research in Business and Social Sciences, 12(12), 134 – 142.
Copyright: © 2022 The Author(s)
Published by HRMARS (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode