Empowering financial well-being through life skills: enhancing the economic resilience of B40 households in Malaysia
In 2020, the B40 group in Malaysia, comprising around 2.7 million households earning less than RM 4,850 (US$1,045) per month, faced significant economic and social challenges. Key issues include limited access to education, healthcare, affordable housing, and rising living costs. Financial managemen...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Universiti Putra Malaysia
2025
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| Online Access: | http://psasir.upm.edu.my/id/eprint/121017/ http://psasir.upm.edu.my/id/eprint/121017/1/121017.pdf |
| _version_ | 1848868273821581312 |
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| author | Sabri, Mohamad Fazli Ahmad Suhaimi, Siti Shazwani Nazuri, Nur Shuhamin Law, Siong Hook Magli, Amirah Shazana |
| author_facet | Sabri, Mohamad Fazli Ahmad Suhaimi, Siti Shazwani Nazuri, Nur Shuhamin Law, Siong Hook Magli, Amirah Shazana |
| author_sort | Sabri, Mohamad Fazli |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | In 2020, the B40 group in Malaysia, comprising around 2.7 million households earning less than RM 4,850 (US$1,045) per month, faced significant economic and social challenges. Key issues include limited access to education, healthcare, affordable housing, and rising living costs. Financial management is crucial for this group to achieve stability and well-being. This study explores the relationship between financial knowledge, locus of control, financial behaviour, life skills, and the financial well-being of B40 households. Data was collected through a cross-sectional study from 1,948 B40 households in five states across Peninsular Malaysia, Sabah, and Sarawak using cluster sampling. SEM-PLS analysis revealed a strong positive relationship between financial knowledge, locus of control, and financial well-being. Additionally, financial behaviour was found to mediate the link between financial knowledge, locus of control, and financial well-being. Life skills further moderated these relationships, emphasizing their importance in improving financial outcomes. The findings contribute to the theoretical understanding of financial well-being and provide actionable insights for policymakers and organizations to design programs aimed at enhancing the financial resilience of B40 households in Malaysia. |
| first_indexed | 2025-11-15T14:49:47Z |
| format | Article |
| id | upm-121017 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T14:49:47Z |
| publishDate | 2025 |
| publisher | Universiti Putra Malaysia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-1210172025-10-22T03:09:21Z http://psasir.upm.edu.my/id/eprint/121017/ Empowering financial well-being through life skills: enhancing the economic resilience of B40 households in Malaysia Sabri, Mohamad Fazli Ahmad Suhaimi, Siti Shazwani Nazuri, Nur Shuhamin Law, Siong Hook Magli, Amirah Shazana In 2020, the B40 group in Malaysia, comprising around 2.7 million households earning less than RM 4,850 (US$1,045) per month, faced significant economic and social challenges. Key issues include limited access to education, healthcare, affordable housing, and rising living costs. Financial management is crucial for this group to achieve stability and well-being. This study explores the relationship between financial knowledge, locus of control, financial behaviour, life skills, and the financial well-being of B40 households. Data was collected through a cross-sectional study from 1,948 B40 households in five states across Peninsular Malaysia, Sabah, and Sarawak using cluster sampling. SEM-PLS analysis revealed a strong positive relationship between financial knowledge, locus of control, and financial well-being. Additionally, financial behaviour was found to mediate the link between financial knowledge, locus of control, and financial well-being. Life skills further moderated these relationships, emphasizing their importance in improving financial outcomes. The findings contribute to the theoretical understanding of financial well-being and provide actionable insights for policymakers and organizations to design programs aimed at enhancing the financial resilience of B40 households in Malaysia. Universiti Putra Malaysia 2025 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/121017/1/121017.pdf Sabri, Mohamad Fazli and Ahmad Suhaimi, Siti Shazwani and Nazuri, Nur Shuhamin and Law, Siong Hook and Magli, Amirah Shazana (2025) Empowering financial well-being through life skills: enhancing the economic resilience of B40 households in Malaysia. International Journal of Economics and Management, 19 (1). pp. 1-19. ISSN 1823-836X; eISSN: 2600-9390 http://www.ijem.upm.edu.my/vol19no1/1)%20Empowering%20Financial%20Well-Being.pdf 10.47836/ijeam.19.1.01 |
| spellingShingle | Sabri, Mohamad Fazli Ahmad Suhaimi, Siti Shazwani Nazuri, Nur Shuhamin Law, Siong Hook Magli, Amirah Shazana Empowering financial well-being through life skills: enhancing the economic resilience of B40 households in Malaysia |
| title | Empowering financial well-being through life skills: enhancing the economic resilience of B40 households in Malaysia |
| title_full | Empowering financial well-being through life skills: enhancing the economic resilience of B40 households in Malaysia |
| title_fullStr | Empowering financial well-being through life skills: enhancing the economic resilience of B40 households in Malaysia |
| title_full_unstemmed | Empowering financial well-being through life skills: enhancing the economic resilience of B40 households in Malaysia |
| title_short | Empowering financial well-being through life skills: enhancing the economic resilience of B40 households in Malaysia |
| title_sort | empowering financial well-being through life skills: enhancing the economic resilience of b40 households in malaysia |
| url | http://psasir.upm.edu.my/id/eprint/121017/ http://psasir.upm.edu.my/id/eprint/121017/ http://psasir.upm.edu.my/id/eprint/121017/ http://psasir.upm.edu.my/id/eprint/121017/1/121017.pdf |