Determinants of financial wellness among Malaysia workers
Open accessAbstract
The purpose of this study was to examine determinants that influence financial wellness. The results of this study can be used for better understanding on the relationships between and among determinants of financial wellness by highlighting the relationships among demographic characteristics, financial literacy, financial behaviors, financial stress, and financial wellness. Samples were selected using multi-stage sampling technique among employees in public and private sectors. A total of 2000 completed questionnaires were analyzed using path analysis to identify direct and indirect effects on financial wellness. The findings identified that financial wellness were financial behaviors, financial stress level, financial literacy, income, gender, marital status, home ownership, and education had either a direct or indirect effect on financial wellness. Age and ethnicity were found not significantly affect the financial satisfaction. Key words: Financial stress, financial problem, financial wellness, Malaysia workers.
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Financial literacy is a critical determinant of financial well-being, as it influences financial behavior, which in turn affects financial well-being.
“In summary, financial literacy is a critical determinant of financial well-being, as it influences financial behavior, which in turn affects financial well-being.”
From ASSESSING FINANCIAL LITERACY IMPACT ON THE FINANCIAL BEHAVIOR OF GRADE 12 ABM STUDENTS OF A NATIONAL HIGH SCHOOL IN THE PHILIPPINES (2024) · cites this paper as Delafrooz and Paim, 2011
The Direct effects section reports that higher financial literacy was associated with better financial behaviors, and that better behaviors were associated with higher financial wellness. But the Indirect effects on financial wellness section calls literacy’s indirect effect weak, while Total effects says it had no direct effect and was not a powerful determinant by itself. Calling it a “critical determinant” overstates the finding. (LLM, conf=0.88)
Experimental — accuracy not yet measuredBetter financial behavior translates to better financial well-being.
“Some researcher concluded that financial behavior is the link between expectations and financial well-being and that better financial behavior translates to better financial well-being (Delafrooz and Paim, 2011).”
From ASSESSING FINANCIAL LITERACY IMPACT ON THE FINANCIAL BEHAVIOR OF GRADE 12 ABM STUDENTS OF A NATIONAL HIGH SCHOOL IN THE PHILIPPINES (2024) · cites this paper as Delafrooz and Paim, 2011
The Direct effects section (page not supplied) reports that workers with better financial behaviors tended to have higher financial wellness, supporting the quoted claim. The citing sentence also attributes a link between expectations and financial well-being to this paper, but the passages found do not establish that link. (LLM, conf=0.86)
Experimental — accuracy not yet measuredHigher levels of financial literacy are associated with better financial behavior, which in turn leads to higher financial well-being.
“Previous studies have also found that higher levels of financial literacy are associated with better financial behavior, which in turn leads to higher financial well-being (Delafrooz and Paim, 2011).”
From ASSESSING FINANCIAL LITERACY IMPACT ON THE FINANCIAL BEHAVIOR OF GRADE 12 ABM STUDENTS OF A NATIONAL HIGH SCHOOL IN THE PHILIPPINES (2024) · cites this paper as Delafrooz and Paim, 2011
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Research works printed but not linked: 16
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Manguiat, J. M. (2024) · Malaysian Mental Health Journal · doi:10.26480/mmhj.02.2024.39.44
- Authors
- Narges, D., & Laily, H. P.
- Venue
- African Journal of Business Management
- Publisher
- Academic Journals
- Published
- 2011-10-14
- Volume
- 5
- Issue
- 24
- Pages
- 10092-10100
- ISSN
- 1993-8233 (ISSN-L)
- OpenAlex
- W2160973641
- Cited by
- 130
- References
- 0
- Citations by year
- 2026: 5 · 2025: 11 · 2024: 11 · 2023: 17 · 2022: 23 · 2021: 17 · 2020: 11 · 2019: 13 · 2018: 6 · 2017: 5 · 2016: 3 · 2015: 6 · 2014: 1 · 2013: 1
- FWCI
- 2.27
- Type
- journal article
- Language
- en
- Open access
- diamond
- doi.org
- Licence
- cc-by
- Locations
- AFRICAN JOURNAL OF BUSINESS MANAGEMENT (publishedVersion, cc-by)
- Topics
- Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy, Pension, Retirement Analysis
- Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy and Behavior
- Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Employee Welfare and Language Studies
- Keywords
- financial well-being, financial literacy, financial behavior, financial stress, income, demographic factors, workers, public and private sector employees, Malaysia
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