A Ringgit Saved Is a Ringgit Earned: Saving Habits among Malaysian Cadets
Saving money has an important role in both individual lives and economic prosperity. It offers individuals an escape from life’s uncertainties and encourages investment, which could indirectly contribute to the economic progress of a nation. This study investigates the factors that influence the sav...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-09-01
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| Series: | Proceedings |
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| Online Access: | https://www.mdpi.com/2504-3900/82/1/20 |
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| author | Hafizah Mat Nawi Nur Shaliza Sapiai Wan Nur Shawatul Aswal Zulkefle Mohd Nor Yahaya Ariffin Ismail |
| author_facet | Hafizah Mat Nawi Nur Shaliza Sapiai Wan Nur Shawatul Aswal Zulkefle Mohd Nor Yahaya Ariffin Ismail |
| author_sort | Hafizah Mat Nawi |
| collection | DOAJ |
| description | Saving money has an important role in both individual lives and economic prosperity. It offers individuals an escape from life’s uncertainties and encourages investment, which could indirectly contribute to the economic progress of a nation. This study investigates the factors that influence the saving habits of Malaysian military cadets. The study focuses on the impact of parental socialization, peer influence, financial literacy, and self-control on saving habits. Adopting a positivist paradigm, the research design was drawn from a survey of 400 military cadets studying at the National Defense University of Malaysia. The data was analyzed using multiple regression analysis. The results reveal substantial correlations between the variables except for financial literacy; hence, all of the proposed hypotheses are supported except the hypothesis related to financial literacy. Both the life cycle theory and the theory of planned behavior are supported by the findings. This study provides valuable information about the saving habits of military cadets and soldiers and the importance of savings plans. |
| first_indexed | 2024-03-09T15:55:35Z |
| format | Article |
| id | doaj.art-86420d865bc04e39b7f99b0670c40ccb |
| institution | Directory Open Access Journal |
| issn | 2504-3900 |
| language | English |
| last_indexed | 2025-02-18T09:21:45Z |
| publishDate | 2022-09-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Proceedings |
| spelling | doaj.art-86420d865bc04e39b7f99b0670c40ccb2024-11-02T21:37:36ZengMDPI AGProceedings2504-39002022-09-018212010.3390/proceedings2022082020A Ringgit Saved Is a Ringgit Earned: Saving Habits among Malaysian CadetsHafizah Mat Nawi0Nur Shaliza Sapiai1Wan Nur Shawatul Aswal Zulkefle2Mohd Nor Yahaya3Ariffin Ismail4Faculty of Defence Studies & Management, National Defence University of Malaysia, Kuala Lumpur 53000, MalaysiaFaculty of Information Management, Universiti Teknologi Mara Cawangan Kelantan, Machang 18500, MalaysiaFaculty of Business and Management, Quest International University, Ipoh 30250, MalaysiaFaculty of Defence Studies & Management, National Defence University of Malaysia, Kuala Lumpur 53000, MalaysiaFaculty of Defence Studies & Management, National Defence University of Malaysia, Kuala Lumpur 53000, MalaysiaSaving money has an important role in both individual lives and economic prosperity. It offers individuals an escape from life’s uncertainties and encourages investment, which could indirectly contribute to the economic progress of a nation. This study investigates the factors that influence the saving habits of Malaysian military cadets. The study focuses on the impact of parental socialization, peer influence, financial literacy, and self-control on saving habits. Adopting a positivist paradigm, the research design was drawn from a survey of 400 military cadets studying at the National Defense University of Malaysia. The data was analyzed using multiple regression analysis. The results reveal substantial correlations between the variables except for financial literacy; hence, all of the proposed hypotheses are supported except the hypothesis related to financial literacy. Both the life cycle theory and the theory of planned behavior are supported by the findings. This study provides valuable information about the saving habits of military cadets and soldiers and the importance of savings plans.https://www.mdpi.com/2504-3900/82/1/20saving habitsparental socializationpeer influencefinancial literacyself-controlmilitary |
| spellingShingle | Hafizah Mat Nawi Nur Shaliza Sapiai Wan Nur Shawatul Aswal Zulkefle Mohd Nor Yahaya Ariffin Ismail A Ringgit Saved Is a Ringgit Earned: Saving Habits among Malaysian Cadets Proceedings saving habits parental socialization peer influence financial literacy self-control military |
| title | A Ringgit Saved Is a Ringgit Earned: Saving Habits among Malaysian Cadets |
| title_full | A Ringgit Saved Is a Ringgit Earned: Saving Habits among Malaysian Cadets |
| title_fullStr | A Ringgit Saved Is a Ringgit Earned: Saving Habits among Malaysian Cadets |
| title_full_unstemmed | A Ringgit Saved Is a Ringgit Earned: Saving Habits among Malaysian Cadets |
| title_short | A Ringgit Saved Is a Ringgit Earned: Saving Habits among Malaysian Cadets |
| title_sort | ringgit saved is a ringgit earned saving habits among malaysian cadets |
| topic | saving habits parental socialization peer influence financial literacy self-control military |
| url | https://www.mdpi.com/2504-3900/82/1/20 |
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