The influence of money attitude, financial practices, self-efficacy and emotion coping on employees’ financial well-being
Financial Stability and Payment Systems Report of the Bank Negara Malaysia reported that household debt grew by 5.4% to RM1.09 trillion from a year earlier. Notably, households merely borrow or use credit for pur-chasing in order to smoothen their consumption. Less secure and vulnerable current, and...
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| Format: | Article |
| Language: | English |
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Growing Science
2019-10-01
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| Series: | Management Science Letters |
| Subjects: | |
| Online Access: | http://www.growingscience.com/msl/Vol10/msl_2019_290.pdf |
| _version_ | 1818751519665684480 |
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| author | Mohamad Fazli Sabri Rusitha Wijekoon Husniyah Abd Rahim |
| author_facet | Mohamad Fazli Sabri Rusitha Wijekoon Husniyah Abd Rahim |
| author_sort | Mohamad Fazli Sabri |
| collection | DOAJ |
| description | Financial Stability and Payment Systems Report of the Bank Negara Malaysia reported that household debt grew by 5.4% to RM1.09 trillion from a year earlier. Notably, households merely borrow or use credit for pur-chasing in order to smoothen their consumption. Less secure and vulnerable current, and retirement stages would be the result among public employees in Malaysia due to high household debts. Enhancing trend of better financial management practices is essential, especially for working employees due to the increased levels of existing personal indebtedness, and increasing focus on personal responsibility for financial planning among them. Nowadays, employee’s role in managing their finances is becoming complex due to experiencing with the complexity of financial commodities in the marketplace. Therefore, studying of the determinants of employees’ financial well-being (FWB) among employees in Malaysia is the major objective of this research. The sample of 590 employees in the public sector from four states was selected by applying multi stage sampling technique. The data gathering was accomplished using a self-administered questionnaire. According to the re-gression analysis, contribution of the variables to the model was 32.3%. Money attitude, financial practices, self-efficacy, and emotion coping had conspicuous contribution to FWB, while financial practices were identified as the key performing aspect to FWB. The findings of this study are beneficial to the government, and Non-Governmental Organizations (NGOs) to create a comprehensive approach specially to advance the living standards, and enhance the FWB of the lower-household income cluster of employees. More comprehension about the determinants of FWB plays a vital role to support workers to equip with financial prudence, and in the long-run would minimize the rate of Malaysian workers with financial difficulties. |
| first_indexed | 2024-12-18T04:36:52Z |
| format | Article |
| id | doaj.art-c2d170939ed3465ab5bdbc3951e290e2 |
| institution | Directory Open Access Journal |
| issn | 1923-9335 1923-9343 |
| language | English |
| last_indexed | 2024-12-18T04:36:52Z |
| publishDate | 2019-10-01 |
| publisher | Growing Science |
| record_format | Article |
| series | Management Science Letters |
| spelling | doaj.art-c2d170939ed3465ab5bdbc3951e290e22022-12-21T21:20:50ZengGrowing ScienceManagement Science Letters1923-93351923-93432019-10-0110488990010.5267/j.msl.2019.10.007The influence of money attitude, financial practices, self-efficacy and emotion coping on employees’ financial well-beingMohamad Fazli SabriRusitha WijekoonHusniyah Abd RahimFinancial Stability and Payment Systems Report of the Bank Negara Malaysia reported that household debt grew by 5.4% to RM1.09 trillion from a year earlier. Notably, households merely borrow or use credit for pur-chasing in order to smoothen their consumption. Less secure and vulnerable current, and retirement stages would be the result among public employees in Malaysia due to high household debts. Enhancing trend of better financial management practices is essential, especially for working employees due to the increased levels of existing personal indebtedness, and increasing focus on personal responsibility for financial planning among them. Nowadays, employee’s role in managing their finances is becoming complex due to experiencing with the complexity of financial commodities in the marketplace. Therefore, studying of the determinants of employees’ financial well-being (FWB) among employees in Malaysia is the major objective of this research. The sample of 590 employees in the public sector from four states was selected by applying multi stage sampling technique. The data gathering was accomplished using a self-administered questionnaire. According to the re-gression analysis, contribution of the variables to the model was 32.3%. Money attitude, financial practices, self-efficacy, and emotion coping had conspicuous contribution to FWB, while financial practices were identified as the key performing aspect to FWB. The findings of this study are beneficial to the government, and Non-Governmental Organizations (NGOs) to create a comprehensive approach specially to advance the living standards, and enhance the FWB of the lower-household income cluster of employees. More comprehension about the determinants of FWB plays a vital role to support workers to equip with financial prudence, and in the long-run would minimize the rate of Malaysian workers with financial difficulties.http://www.growingscience.com/msl/Vol10/msl_2019_290.pdfEmotion copingFinancial practicesFinancial well-being (FWB)Financial wellnessMoney attitudeSelf-efficacy |
| spellingShingle | Mohamad Fazli Sabri Rusitha Wijekoon Husniyah Abd Rahim The influence of money attitude, financial practices, self-efficacy and emotion coping on employees’ financial well-being Management Science Letters Emotion coping Financial practices Financial well-being (FWB) Financial wellness Money attitude Self-efficacy |
| title | The influence of money attitude, financial practices, self-efficacy and emotion coping on employees’ financial well-being |
| title_full | The influence of money attitude, financial practices, self-efficacy and emotion coping on employees’ financial well-being |
| title_fullStr | The influence of money attitude, financial practices, self-efficacy and emotion coping on employees’ financial well-being |
| title_full_unstemmed | The influence of money attitude, financial practices, self-efficacy and emotion coping on employees’ financial well-being |
| title_short | The influence of money attitude, financial practices, self-efficacy and emotion coping on employees’ financial well-being |
| title_sort | influence of money attitude financial practices self efficacy and emotion coping on employees financial well being |
| topic | Emotion coping Financial practices Financial well-being (FWB) Financial wellness Money attitude Self-efficacy |
| url | http://www.growingscience.com/msl/Vol10/msl_2019_290.pdf |
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