Financial well‐being of Malaysian college students
Purpose: The purpose of this paper is to examine the relationships between personal and family backgrounds, academic ability, childhood consumer experience, financial socialization, financial literacy, and perceived financial well‐being of college students. Design/methodology/approach: Data were co...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Emerald Group Publishing
2012
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| Online Access: | http://psasir.upm.edu.my/id/eprint/14762/ http://psasir.upm.edu.my/id/eprint/14762/1/Financial%20well%E2%80%90being%20of%20Malaysian%20college%20students.pdf |
| _version_ | 1848842483934429184 |
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| author | Sabri, Mohamad Fazli Cook, Christine C. Gudmunson, Clinton G. |
| author_facet | Sabri, Mohamad Fazli Cook, Christine C. Gudmunson, Clinton G. |
| author_sort | Sabri, Mohamad Fazli |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | Purpose: The purpose of this paper is to examine the relationships between personal and family backgrounds, academic ability, childhood consumer experience, financial socialization, financial literacy, and perceived financial well‐being of college students.
Design/methodology/approach: Data were collected using a multi‐stage sampling technique from 11 public and private universities across Malaysia and the sample consists of 2,219 college students. Structural equation modelling was utilized to test the hypotheses.
Findings: Childhood consumer experiences such as savings habits contribute to students’ financial well‐being (money saved, current financial situation, and financial management skills). Financial socialization agents, for example, through parents and religion sources could increase college students’ financial well‐being. Financial literacy was related to financial well‐being. There were important differences between the Malay and Chinese ethnic groups in Malaysia.
Research limitations/implications: Overall, implications and recommendations for future research, teaching, and public policy are also provided for parents, college administrators, counselors and educators.
Originality/value: This research provides meaningful information about how various factors (childhood experience, financial socialization, and financial literacy) predict students’ financial well‐being. |
| first_indexed | 2025-11-15T07:59:51Z |
| format | Article |
| id | upm-14762 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T07:59:51Z |
| publishDate | 2012 |
| publisher | Emerald Group Publishing |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-147622019-04-09T03:53:02Z http://psasir.upm.edu.my/id/eprint/14762/ Financial well‐being of Malaysian college students Sabri, Mohamad Fazli Cook, Christine C. Gudmunson, Clinton G. Purpose: The purpose of this paper is to examine the relationships between personal and family backgrounds, academic ability, childhood consumer experience, financial socialization, financial literacy, and perceived financial well‐being of college students. Design/methodology/approach: Data were collected using a multi‐stage sampling technique from 11 public and private universities across Malaysia and the sample consists of 2,219 college students. Structural equation modelling was utilized to test the hypotheses. Findings: Childhood consumer experiences such as savings habits contribute to students’ financial well‐being (money saved, current financial situation, and financial management skills). Financial socialization agents, for example, through parents and religion sources could increase college students’ financial well‐being. Financial literacy was related to financial well‐being. There were important differences between the Malay and Chinese ethnic groups in Malaysia. Research limitations/implications: Overall, implications and recommendations for future research, teaching, and public policy are also provided for parents, college administrators, counselors and educators. Originality/value: This research provides meaningful information about how various factors (childhood experience, financial socialization, and financial literacy) predict students’ financial well‐being. Emerald Group Publishing 2012 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/14762/1/Financial%20well%E2%80%90being%20of%20Malaysian%20college%20students.pdf Sabri, Mohamad Fazli and Cook, Christine C. and Gudmunson, Clinton G. (2012) Financial well‐being of Malaysian college students. Asian Education and Development Studies, 1 (2). pp. 153-170. ISSN 2046-3162; ESSN: 2046-3170 https://www.emeraldinsight.com/doi/abs/10.1108/20463161211240124 10.1108/20463161211240124 |
| spellingShingle | Sabri, Mohamad Fazli Cook, Christine C. Gudmunson, Clinton G. Financial well‐being of Malaysian college students |
| title | Financial well‐being of Malaysian college students |
| title_full | Financial well‐being of Malaysian college students |
| title_fullStr | Financial well‐being of Malaysian college students |
| title_full_unstemmed | Financial well‐being of Malaysian college students |
| title_short | Financial well‐being of Malaysian college students |
| title_sort | financial well‐being of malaysian college students |
| url | http://psasir.upm.edu.my/id/eprint/14762/ http://psasir.upm.edu.my/id/eprint/14762/ http://psasir.upm.edu.my/id/eprint/14762/ http://psasir.upm.edu.my/id/eprint/14762/1/Financial%20well%E2%80%90being%20of%20Malaysian%20college%20students.pdf |