The financial health and the usage of financial technology among young adults
Financial health of young adults (18-29 years old) could be best achieved with the usage of financial technology (fintech) applications. Troubled by the high cost of living, the effects of Covid-19 pandemic, the jobless rate among young adults, and the years of lockdowns and masks young adults in Ma...
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| Format: | Article |
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Human Resource Management Academic Research Society
2021
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| _version_ | 1825937576579563520 |
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| author | Anthony, Mervin Sabri, Mohamad Fazli Magli, Amira Shazana Abdul Rahim, Husniyah Burhan@Jaohari, Nik Ahmad Sufian Othman, Mohd. Amim Abdullah, Haslinda |
| author_facet | Anthony, Mervin Sabri, Mohamad Fazli Magli, Amira Shazana Abdul Rahim, Husniyah Burhan@Jaohari, Nik Ahmad Sufian Othman, Mohd. Amim Abdullah, Haslinda |
| author_sort | Anthony, Mervin |
| collection | UPM |
| description | Financial health of young adults (18-29 years old) could be best achieved with the usage of financial technology (fintech) applications. Troubled by the high cost of living, the effects of Covid-19 pandemic, the jobless rate among young adults, and the years of lockdowns and masks young adults in Malaysia’s financial health has become more perilous. This study aims to understand the financial health of young adults and the usage of financial technology. Rapid developments of fintech in Malaysia are expected to contribute to improvement of young adult’s financial health. This paper uses a dataset collected through smart partnership with Malaysian Youth Council and the Malaysian Ministry of Youth and Sports. Multi-stage random sampling was used to sample a total of 651 respondents in which the data collected was analysed descriptively and inferentially using SPSS. Descriptive analysis was conducted in order to summarize the empirical analysis results with numerical representation. This study found a single young adult requiring RM871 for their monthly expenses and married young adult requiring RM3161 per month. A total of one third of respondents had sufficient income for basic needs only. In terms of financial technology, only 2.6% of respondents do not use fintech applications. One implication for policy makers is to ensure that young adults are made aware of methods they could undertake to improve their financial health through the usage of financial technology. |
| first_indexed | 2024-03-06T11:01:36Z |
| format | Article |
| id | upm.eprints-95441 |
| institution | Universiti Putra Malaysia |
| last_indexed | 2024-03-06T11:01:36Z |
| publishDate | 2021 |
| publisher | Human Resource Management Academic Research Society |
| record_format | dspace |
| spelling | upm.eprints-954412023-02-02T07:28:36Z http://psasir.upm.edu.my/id/eprint/95441/ The financial health and the usage of financial technology among young adults Anthony, Mervin Sabri, Mohamad Fazli Magli, Amira Shazana Abdul Rahim, Husniyah Burhan@Jaohari, Nik Ahmad Sufian Othman, Mohd. Amim Abdullah, Haslinda Financial health of young adults (18-29 years old) could be best achieved with the usage of financial technology (fintech) applications. Troubled by the high cost of living, the effects of Covid-19 pandemic, the jobless rate among young adults, and the years of lockdowns and masks young adults in Malaysia’s financial health has become more perilous. This study aims to understand the financial health of young adults and the usage of financial technology. Rapid developments of fintech in Malaysia are expected to contribute to improvement of young adult’s financial health. This paper uses a dataset collected through smart partnership with Malaysian Youth Council and the Malaysian Ministry of Youth and Sports. Multi-stage random sampling was used to sample a total of 651 respondents in which the data collected was analysed descriptively and inferentially using SPSS. Descriptive analysis was conducted in order to summarize the empirical analysis results with numerical representation. This study found a single young adult requiring RM871 for their monthly expenses and married young adult requiring RM3161 per month. A total of one third of respondents had sufficient income for basic needs only. In terms of financial technology, only 2.6% of respondents do not use fintech applications. One implication for policy makers is to ensure that young adults are made aware of methods they could undertake to improve their financial health through the usage of financial technology. Human Resource Management Academic Research Society 2021-12-13 Article PeerReviewed Anthony, Mervin and Sabri, Mohamad Fazli and Magli, Amira Shazana and Abdul Rahim, Husniyah and Burhan@Jaohari, Nik Ahmad Sufian and Othman, Mohd. Amim and Abdullah, Haslinda (2021) The financial health and the usage of financial technology among young adults. International Journal of Academic Research in Business and Social Sciences, 11 (19). 44 - 67. ISSN 2222-6990 https://hrmars.com/index.php/IJARBSS/article/view/11716/The-Financial-Health-and-The-Usage-of-Financial-Technology-among-Young-Adults 10.6007/IJARBSS/v11-i19/11716 |
| spellingShingle | Anthony, Mervin Sabri, Mohamad Fazli Magli, Amira Shazana Abdul Rahim, Husniyah Burhan@Jaohari, Nik Ahmad Sufian Othman, Mohd. Amim Abdullah, Haslinda The financial health and the usage of financial technology among young adults |
| title | The financial health and the usage of financial technology among young adults |
| title_full | The financial health and the usage of financial technology among young adults |
| title_fullStr | The financial health and the usage of financial technology among young adults |
| title_full_unstemmed | The financial health and the usage of financial technology among young adults |
| title_short | The financial health and the usage of financial technology among young adults |
| title_sort | financial health and the usage of financial technology among young adults |
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