Publication:
Financial Literacy And Financial Anxiety In Malaysia: Determinants And Behavioural Influences

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dc.contributor.authorSiti Raihana Hamzah
dc.contributor.authorA’mal Nabihah Ahmad Tajudin
dc.contributor.authorNorizarina Ishak
dc.contributor.authorAhmad Fadly Nurullah Rasedee
dc.date.accessioned2024-10-06T17:04:03Z
dc.date.available2024-10-06T17:04:03Z
dc.date.issued2024
dc.date.submitted2024-10-3
dc.descriptionInternational Journal of Advanced Research in Education and Societye Vol. 6, No. 3(Page: 309-322)
dc.description.abstractIn reaction to economic uncertainty, there has been a rise in financial anxiety, which is defined as the psychological distress brought on by financial circumstances. The current study looks into how financial literacy—which encompasses financial behaviour, impulsivity, vulnerability, and knowledge—affects financial anxiety among Malaysians. The data gathered from 389 individuals served as the basis for the analysis. The findings show that the most important predictor of financial anxiety is financial vulnerability, most especially the inability to pay monthly obligations. A major contributing factor to reckless spending is the heightened anxiety that accompanies rash financial decisions. On the other hand, forming sound financial practices, such making on-time bill payments and keeping a careful eye on funds, significantly reduces financial stress. The study shows that misunderstandings of financial concepts exacerbate anxiety, underscoring the necessity for proper financial education. Demographic factors including age, gender, and marital status have an impact on financial anxiety. In particular, stress tends to be somewhat higher in younger people, women, and unmarried people. These findings emphasise the need for tailored financial literacy programs that address behaviour and knowledge gaps, promote financial self-control, and provide specific help to excluded groups. The study underscores the critical role that financial literacy plays in mitigating financial anxiety and improving overall financial well-being. It contends that in order to effectively address these challenges, future interventions should prioritise the use of behavioural change strategies and practical financial education.
dc.identifier.citationSiti Raihana Hamzah, A’mal Nabihah Ahmad Tajudin, Norizarina Ishak, & Ahmad Fadly Nurullah Rasedee. (2024). Financial Literacy and Financial Anxiety in Malaysia: Determinants and Behavioural Influences. International Journal of Advanced Research in Education and Society, 6(3), 309–322. https://myjms.mohe.gov.my/index.php/ijares/article/view/27792
dc.identifier.doihttps://doi.org/10.55057/ijares.2024.6.3.23
dc.identifier.epage322
dc.identifier.issn2682-8138
dc.identifier.issue3
dc.identifier.spage309
dc.identifier.urihttps://myjms.mohe.gov.my/index.php/ijares/article/view/27792
dc.identifier.urihttps://oarep.usim.edu.my/handle/123456789/23362
dc.identifier.volume6
dc.language.isoen_US
dc.publisherAsian Scholar Network
dc.relation.ispartofInternational Journal of Advanced Research in Education and Society
dc.relation.issn2682-8138
dc.relation.journalInternational Journal of Advanced Research in Education and Society
dc.subjectFinancial Anxiety
dc.subjectFinancial Literacy
dc.subjectFinancial Knowledge
dc.subjectFinancial Vulnerability
dc.subjectFinancial Behaviour
dc.subjectMalaysian
dc.titleFinancial Literacy And Financial Anxiety In Malaysia: Determinants And Behavioural Influences
dc.typetext::journal::journal article::research article
dspace.entity.typePublication
oaire.citation.endPage322
oaire.citation.issue3
oaire.citation.startPage309
oaire.citation.volume6
oairecerif.author.affiliationUniversiti Sains Islam Malaysia
oairecerif.author.affiliationUniversiti Sains Islam Malaysia
oairecerif.author.affiliationUniversiti Sains Islam Malaysia
oairecerif.author.affiliationUniversiti Sains Islam Malaysia

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