scholarly journals THE DETERMINANTS INFLUENCING PERSONAL FINANCIAL BEHAVIOR THROUGH PERSONAL FINANCIAL STRATEGY

2019 ◽  
Vol 4 (2) ◽  
pp. 128-131
Author(s):  
NOOR Hannah Samsu Anuar
Keyword(s):  
Financial Management ◽  
Financial Institution ◽  
Early Adulthood ◽  
Financial Behavior ◽  
Future Research ◽  
Time Data ◽  
Financial Strategy ◽  
Financial Decisions ◽  
The Relationship ◽  
Personal Financial Behavior

Bankruptcy problems among the individuals in Malaysia is still a continuous concern regardless of its decreasing trend. Malaysian Department of Insolvency (MdI) reveals that most of the loan defaulters were consist of the early adulthood group. These individuals portray how do they make financial decisions in terms of budgeting, savings and expenditure. This study aims to understand the patterns of the savings and expenditure habit of the early adulthood in financial institutions. It is found that the early adulthood shows a good conduct of financial behavior, however there are not properly planned and organized in terms of savings. Apart from that, the objective of this study also is to investigate the significant determinants of financial management, financial attitude and normative influencer towards personal financial behavior by exploring the relationship exist between variables through multiple regression analysis. A survey approach using convenient sampling has been adopted to conduct the study and it was distributed among the employees of financial institution in selected branch of Employees Provident Fund (EPF), Inland Revenue Board of Malaysia (IRBM), CIMB Bank and Hong Leong Bank. Imperatively, Cronbach’s alpha and Exploratory Factor Analysis were tested to improve the reliability of the survey. This study is differed from the previous studies as it adopts Statistical Analysis Software (SAS) for each analysis to gain a meaningful result. To further improve on the previous literatures, this study intends to propose a personal financial strategy which is the Balanced Money Formula on managing personal finance concerning to the allocation of monthly income towards budgeting, savings and expenditure in an optimal manner among early adulthoods. Thus, this particular study uses a real-time data that can be used as references for future research and a new theory on exploring and understanding new financial management methods may be achieved.  

scholarly journals Deservingness for "Family 500 +" Benefit in Poland: Qualitative Study of Internet Debates

2021 ◽  
Author(s):  
Piotr Michoń
Keyword(s):  
Future Research ◽  
Online Forums ◽  
Time Data ◽  
Social Surveys ◽  
Cash Benefit ◽  
Internet Forums ◽  
Welfare Attitudes ◽  
New Criterion ◽  
First Time ◽  
The Relationship

AbstractThe need for qualitative research of deservingness perception is strongly emphasised in the literature. This article studies the perception of deservingness for a "Family 500 +"—cash benefit in Poland. For the first time, data from online forums was used in the studies of deservingness and welfare attitudes. It allowed to avoid numerous limitations associated with social surveys. The qualitative analysis showed how participants of Internet debates perceive the criteria of deservingness: control, attitude, reciprocity, identity, need, and what are the relations between the criteria. The impurity of all deservingness criteria was indicated and a new criterion “adequacy” was proposed. Moreover due to the fact that the study concerned a concrete, non-abstract family cash benefit addressed the relationship between the perceived deservingness of children and their parents was pointed out. The vast majority of posts on Internet forums referred to deservingness of parents, not children. This is particularly evident in relation to the criteria of control and reciprocity. Presenting the hypothesis of jealousy and scapegoat strategy, the article also shows the direction of future research on deservingness.

scholarly journals Orientation to finance (ORTOFIN) and its relationship with residential status

2017 ◽  
Vol 14 (3) ◽  
pp. 74-81
Author(s):  
Shaha Faisal
Keyword(s):  
Financial Management ◽  
Home Country ◽  
Practical Implication ◽  
Financial Behavior ◽  
Specific Nature ◽  
Residential Status ◽  
The Status ◽  
Uncertain Future ◽  
The Relationship ◽  
Personal Financial Planning

The two of factors Orientation towards Finance (ORTOFIN) Scale tests the financial information and personal financial planning of the respondents. The Scale helps in identifying the personal financial management behavior of a general and non-specific nature. The present study was undertaken to test the relationship between status of residence and financial orientation using ORTOFIN Scale. Towards this the ORTOFIN scale was administered on 167 resident employed Indians and 62 expatriates working in Saudi Arabia. Since most of the expatriates work in unique situations that are often beset with risks, they have to face an uncertain future. This unique situation was hypothesized, would induce in them a different type of financial behavior, distinct from those who are settled and work in the home country. Results of the study, however, show that there is no relationship between the status of residence and financial orientation of the respondents. The results of the study are of great significance and of practical implication to those financial institutions with which expatriates are associated.

scholarly journals BANKING THE UNBANKED A PERCEIVED RECIPES FOR POVERTY ERADICATION PROGRAM: INDUCTION OF A NEW ISLAMIC MICROFINANCE MODEL IN NIGERIA

2018 ◽  
Vol 3 (2) ◽  
Author(s):  
Lukman Olorogun
Keyword(s):  
Financial Management ◽  
Financial Institution ◽  
Islamic Finance ◽  
Future Research ◽  
Poverty Eradication ◽  
Induction Program ◽  
Finance Industry ◽  
Education Workshop ◽  
Grassroots Level ◽  
Closed User Group

This study focuses on efforts to enhance financial inclusion program through the educational orientation development in the Nigerian Islamic finance industry. A Closed User Group (CUG) consisting of Muslims across Nigeria financial educational induction program formed the study sample. The formation of the CUG sought to establish an Islamic compliant financing model that would be effective at the grassroots level in the wake of the failure of microfinance programs to deliver the much needed poverty eradication. To this end, we developed a questionnaire and conducted a financial management induction and education workshop over a period of three days. On the third day, participants were given a questionnaire, from which the results showed that proper education and adjustment to the current available model of microfinance would bring about poverty eradication and that in terms of educational traits building of staff within a typical Islamic financial institution. Future research should look into transformation of personality vices affecting financial institutions as a whole. 

Canadian immigrant guidelines on how to become productive members of society

2017 ◽  
Vol 36 (6) ◽  
pp. 482-500
Author(s):  
Isabella M. Krysa ◽  
Albert Mills ◽  
Salvador Barragan
Keyword(s):  
Critical Discourse Analysis ◽  
Research Process ◽  
Future Research ◽  
Time Data ◽  
Content Type ◽  
Government Documents ◽  
European Immigrants ◽  
Non Local ◽  
Integration Strategies ◽  
The Relationship

Purpose The purpose of this paper is to critically look at how immigrants to Canada are informed and educated about how to become productive members of society. The authors adopted a postcolonial framework to unveil the underlying assumptions embedded in the messages that are conveyed to “teach” and “prepare” immigrants for the Canadian workplace. In particular, the authors focus on non-white immigrants because they form the majority of immigrants to Canada and at the same time data show that they experience particular socio-economic obstacles in their settlement process that European immigrants did not. Design/methodology/approach The authors apply postcolonialism as the theoretical framework. This approach allows the authors to analyze the relationship between the local subject and the encounter with the non-local other, in this case the immigrant who is from a non-European background. The authors conduct a Foucauldian critical discourse analysis on selected texts that serve as information sources for immigrants. These texts include government documents, immigrant information brochures, and workplace information books and booklets. Findings The analysis shows ideological positions that reveal discursive messages representing the non-white immigrant in binary terms. Such immigrants are represented in opposing (and inferior) terms to the local (largely white) Canadian citizen. By adopting a postcolonial lens, the analysis shows that the messages to acculturate immigrants reveal assimilationist features. Research limitations/implications The authors acknowledge that the authors’ own personal socio-political, intellectual, and ideological locations influence the approach, logic, research process, and the interpretation of the findings. For future research, other textual sources should be analyzed with regard to the messages they convey to immigrants as a form of education to see what kind of acculturation is conveyed. Practical implications This paper sheds light on the necessity to develop policies that not only aim to acculturate immigrants using integration strategies but also to carefully communicate and educate newcomers through messages that that do not stem from colonial assumptions. Originality/value This research points out the taken-for granted and oftentimes invisible forms of discriminatory practices in the workplace that appear non-discriminatory on the surface but are rooted in colonial thinking. Consequently, the authors challenge “mainstream” management theories concerning diversity in the workplace by questioning the underlying messages portrayed to immigrants.

scholarly journals Prudent Financial Behaviour among Youth: The Role of Financial Attitude

2020 ◽  
Vol 4 (8) ◽  
pp. 30-34
Keyword(s):  
Financial Management ◽  
Age Groups ◽  
Young Age ◽  
Financial Problems ◽  
Financial Decisions ◽  
Financial Decision ◽  
Financial Behaviour ◽  
Relationship Of ◽  
The Relationship

This paper to seek discuss the importance and the role of Financial Attitude (FA) in determine factors to prudent financial behaviour among youth. Arising of financial problems among young age groups in today life has attracted attention of stakeholders in many countries globally because the groups considered as backbone and future country leaders. This paper seeks to discuss the function of FA in ensuring prudent financial decision and improved youth financial behaviour. Further, this paper later expanded from concept and definitions of FA to the effectiveness and the relationship of FA with prudent financial behaviour. Significantly, FA aims at making individuals more financial literate, transform youth to change for prudent financial decisions and provide them with the skills and competencies to take more responsibilities in their personal financial management.

Gamification of financial applications and financial behavior of young investors

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Abhinav Pal ◽  
Kavita Indapurkar ◽  
Kriti Priya Gupta
Keyword(s):  
Financial Management ◽  
Structural Equation ◽  
Structural Model ◽  
Financial Behavior ◽  
Equation Modeling ◽  
Content Type ◽  
The Past ◽  
The Relationship ◽  
Moderating Role

Purpose This study aims to investigate the moderating role of gamification on the relationship of financial attitude (FA), financial self-efficacy (FSE) and financial planning activity (FPA) of individuals on the financial behavior of individuals and also provides a conceptual background on financial management behavior (FMB), FA, FSE and FPA of individuals. Design/methodology/approach A preliminary study with the help of a structured questionnaire was conducted by administering the questionnaire to individuals who are exposed to financial apps on their smart phones or personal computers for various money-saving and investment activities. Help of various financial planners and financial consultants led to successful circulation of the questionnaire to respondents. The research model was tested through structural equation modeling using AMOS-21 software. Firstly, a measurement model was evaluated that comprised five latent constructs, i.e. gamifying features (GF), FA, FSE, FPA and FMB. Subsequently, the structural model consisting of the hypothesized relationships was evaluated. Findings The role of GF in financial apps and applications in moderating the influence of FA, FSE and FPA on FMB has not been thoroughly studied in the past literature, and the results of this study show that GF significantly moderate the influence of FA and FPA on the FMB of individuals. However, according to the results GF in financial apps do not have a significant moderating role on the influence of FSE on FMB of individuals. Originality/value The studies in the past have not investigated the role of gamification in the area of personal finance of individual investors, specifically their financial behavior in both developed and developing countries. This study addresses this gap by examining the role of gamification in moderating the relationship that exists between FA, FSE, FPA and financial behavior.

scholarly journals Identity and markers of adulthood: the relationship between two constructs

2013 ◽  
Vol 44 (3) ◽  
pp. 254-265
Author(s):  
Anna Izabela Brzezińska ◽  
Konrad Piotrowski
Keyword(s):  
Identity Formation ◽  
Human Development ◽  
Transition To Adulthood ◽  
Contextual Factors ◽  
Early Adulthood ◽  
Future Research ◽  
Psychosocial Maturity ◽  
Mutual Relations ◽  
Adult Roles ◽  
The Relationship

Abstract The article presents both the classical and contemporary approaches to the analysis of identity formation. Special emphasis has been placed on the processual approach, in which identity is regarded as a dynamic construct that remains in constant, mutual relations with personal and contextual factors. Since research on identity has been predominantly based on studies conducted on individuals in adolescence and early adulthood, i.e. in the time of transition to adulthood, the article focuses on adulthood markers that may be found in this particular phase of human development. The authors have distinguished different markers of adulthood (transitions to adult roles, psychosocial maturity, sense of adulthood) and have described their links to identity. In the conclusion of the present paper, it has been stressed that future research on identity should to a large extent include factors originating from these different categories of conditions, and that researchers ought to consider the interactions of these factors as predictors of identity formation

scholarly journals The Interrelationship between Financial Attitude, Financial Behavior and Financial Knowledge

2015 ◽  
Vol 4 (1) ◽  
Author(s):  
Dorjana Nano
Keyword(s):  
Financial Literacy ◽  
Mediating Effect ◽  
Three Dimensions ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Future Research ◽  
Correlation Technique ◽  
Financial Decisions ◽  
Main Research ◽  
Three Components

Financial literacy is shown to be an important life skill for people. It influences people every day financial decisions and has a macro impact on the economy and financial satisfaction of the society. Studies revealed financial literacy to cover three dimensions: financial knowledge, financial attitude and financial behavior. This research aims to examine the interrelationship between the three components of financial literacy. The main objectives of the current research are: a) firstly, to provide some evidences of the existing literature on the linkage between financial knowledge, financial attitude and financial behavior; b) secondly, to inspect this association in the case of Albanian university students; c) thirdly, to investigate the mediating effect of financial attitude on the connection between financial knowledge and financial behavior; d) finally, to present some conclusions and recommendation for parents, school and future researchers. The main research questions addressed in this study are: 1) Is there any relationship between students’ financial knowledge and their financial attitude and behavior in the case of Albania? 2) Does financial attitude serve as a mediator factor between financial knowledge and financial behavior? The database for this investigation is provided by a survey conducted on 637 students from eight universities in Albania and is part of my dissertation study. Person correlation technique and linear regression model will be employed to analyse the database. Results of this study demonstrate a statistically significant relationship between the three components of financial literacy. In addition, financial attitude is discovered to play a mediating effect on the association between financial knowledge and financial behavior. Future research can be undertaken to explore whether financial knowledge serves as a mediator in the linkage between financial attitude and financial behavior.

scholarly journals Landscaping Pre-Service Teachers’ Stress Caused by Lack of Financial Management

2018 ◽  
Vol 8 (3) ◽  
pp. 172
Author(s):  
Ramanaidu Rao Ramesh ◽  
Ghanaguru Sharmini ◽  
Antonysamy Carolina Assunta ◽  
Prakash Nair Sadhna
Keyword(s):  
Logistic Regression ◽  
Distinctive Feature ◽  
Financial Literacy ◽  
Financial Management ◽  
Online Survey ◽  
Financial Behavior ◽  
And Gender ◽  
The Relationship ◽  
Determinant Factor

Age plays an important role in the financial behavior of people. Financial matters are usually more seriously perceived at later stages of life. Nevertheless, the role of age in financial behavior is inconclusive. This study intends to add to the literature on financial behavior by focusing on the relationship between expenditure planning, gender and stress. The distinctive feature of this study is its scope and the sample of people participating in it. Besides being young, the participants are pre-service teachers. Hence, studying their financial behavior also augurs well for the nation, for these are the shapers of its future. Using an online survey, 127 pre-service teachers responded to 17 questions, dwelling mainly on their financial behavior. Logistic regression was then used to identify whether expenditure planning is related to stress and gender. The findings reveal that the failure to plan one’s expenditures could cause stress and in which gender could be the determinant factor. Thus, it is recommended to take actions on higher rate of financial literacy among pre-service teachers.

scholarly journals Does financial behavior mediate the relationship between self-control and financial security?

2021 ◽  
Vol 12 (1) ◽  
pp. 27-36
Author(s):  
Marija Vukovic ◽  
Snjezana Pivac
Keyword(s):  
Structural Equation ◽  
Mediating Effect ◽  
Self Control ◽  
Financial Behavior ◽  
Psychological Characteristics ◽  
Equation Modeling ◽  
Future Research ◽  
Financial Security ◽  
The Impact ◽  
The Relationship

People have different financial behavior depending on their psychological characteristics, which can reflect their financial security. Self-control is also an important predictor of financial security. People with greater self-control are more likely to save money and less likely to get into debt. Therefore, they are more secure and satisfied with their financial situation. This paper explores whether good self-control directly affects financial security or if its impact comes indirectly through good financial behavior. For the purposes of the research, a survey analysis was designed and applied to a sample of 494 respondents. Structural equation modeling was used for testing the research hypothesis. The results confirmed that there is a significant mediating effect of financial behavior on the relationship between self-control and financial security. The research contributes to a better understanding of financial behavior predictors among individuals with different psychological characteristics. Future research should also include testing for differences between various demographic groups of people in the impact of self-control on financial behavior and security.

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