Wealth optimization: A conceptual model of financial literacy, financial socialization, parental norms and money attitude
This study has incorporated an integrated conceptual model which investigates the impact of financial literacy, financial socializations, parental norms and attitude towards money on wealth optimization. Wealth optimization includes budgeting, spending, saving, and investing. The conceptual model is...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English English |
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American Scientific Publishers
2016
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/56595/ http://irep.iium.edu.my/56595/1/56595_Wealth%20optimization_Scopus.pdf http://irep.iium.edu.my/56595/2/56595_Wealth%20optimization.pdf |
| _version_ | 1848784768978649088 |
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| author | D. Sundarasen, Sheela Devi Rahman, Muhammad Sabbir Othman, Noor Shahaliza Danaraj, Jennifer |
| author_facet | D. Sundarasen, Sheela Devi Rahman, Muhammad Sabbir Othman, Noor Shahaliza Danaraj, Jennifer |
| author_sort | D. Sundarasen, Sheela Devi |
| building | IIUM Repository |
| collection | Online Access |
| description | This study has incorporated an integrated conceptual model which investigates the impact of financial literacy, financial socializations, parental norms and attitude towards money on wealth optimization. Wealth optimization includes budgeting, spending, saving, and investing. The conceptual model is designed post a rigorous review of relevant literature. Empirical testing of the model is proposed and it is envisioned that the results of the study would increase the awareness amongst all stakeholders, i.e., the young adults, parents, and socialization agents on their role in wealth maximization plans. Additionally, the importance of financial literacy and an individual’s attitude towards money on wealth optimization is also highlighted in this study. The idea is novel and it is intended to make significant contribution to the stream of financial planning and wealth optimization research in a developing country. |
| first_indexed | 2025-11-14T16:42:30Z |
| format | Article |
| id | iium-56595 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T16:42:30Z |
| publishDate | 2016 |
| publisher | American Scientific Publishers |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-565952017-04-27T06:49:12Z http://irep.iium.edu.my/56595/ Wealth optimization: A conceptual model of financial literacy, financial socialization, parental norms and money attitude D. Sundarasen, Sheela Devi Rahman, Muhammad Sabbir Othman, Noor Shahaliza Danaraj, Jennifer HG Finance This study has incorporated an integrated conceptual model which investigates the impact of financial literacy, financial socializations, parental norms and attitude towards money on wealth optimization. Wealth optimization includes budgeting, spending, saving, and investing. The conceptual model is designed post a rigorous review of relevant literature. Empirical testing of the model is proposed and it is envisioned that the results of the study would increase the awareness amongst all stakeholders, i.e., the young adults, parents, and socialization agents on their role in wealth maximization plans. Additionally, the importance of financial literacy and an individual’s attitude towards money on wealth optimization is also highlighted in this study. The idea is novel and it is intended to make significant contribution to the stream of financial planning and wealth optimization research in a developing country. American Scientific Publishers 2016-12-01 Article PeerReviewed application/pdf en http://irep.iium.edu.my/56595/1/56595_Wealth%20optimization_Scopus.pdf application/pdf en http://irep.iium.edu.my/56595/2/56595_Wealth%20optimization.pdf D. Sundarasen, Sheela Devi and Rahman, Muhammad Sabbir and Othman, Noor Shahaliza and Danaraj, Jennifer (2016) Wealth optimization: A conceptual model of financial literacy, financial socialization, parental norms and money attitude. Advanced Science Letters, 22 (12). pp. 4312-4315. ISSN 1936-6612 E-ISSN 1936-7317 http://www.ingentaconnect.com/content/asp/asl/2016/00000022/00000012/art00079 https://doi.org/10.1166/asl.2016.8135 |
| spellingShingle | HG Finance D. Sundarasen, Sheela Devi Rahman, Muhammad Sabbir Othman, Noor Shahaliza Danaraj, Jennifer Wealth optimization: A conceptual model of financial literacy, financial socialization, parental norms and money attitude |
| title | Wealth optimization: A conceptual model of financial literacy, financial socialization, parental norms and money attitude |
| title_full | Wealth optimization: A conceptual model of financial literacy, financial socialization, parental norms and money attitude |
| title_fullStr | Wealth optimization: A conceptual model of financial literacy, financial socialization, parental norms and money attitude |
| title_full_unstemmed | Wealth optimization: A conceptual model of financial literacy, financial socialization, parental norms and money attitude |
| title_short | Wealth optimization: A conceptual model of financial literacy, financial socialization, parental norms and money attitude |
| title_sort | wealth optimization: a conceptual model of financial literacy, financial socialization, parental norms and money attitude |
| topic | HG Finance |
| url | http://irep.iium.edu.my/56595/ http://irep.iium.edu.my/56595/ http://irep.iium.edu.my/56595/ http://irep.iium.edu.my/56595/1/56595_Wealth%20optimization_Scopus.pdf http://irep.iium.edu.my/56595/2/56595_Wealth%20optimization.pdf |