Artificial intelligence, financial anxiety and cashier-less checkouts: a Saudi Arabian perspective

PurposeThis paper aims to investigate the impact of financial anxiety and convenience on the relation between cashier-less versus traditional checkouts and purchase intentions among Saudi Arabian consumers.Design/methodology/approachIn an online experiment, 329 Saudi participants were randomly assigned to one of two checkout conditions (traditional vs. AI-enabled) in a between-subjects design and indicated their financial anxiety. Through moderation-of-process design, the authors examine and showcase that the effect of convenience leads to higher purchase intent for AI-enabled checkouts. Moreover, the authors examine financial anxiety as an underlying mechanism and show that for high-convenience consumers, this enacts higher purchase intent.FindingsThe effect of AI-enabled checkouts depends on consumers' convenience perception. High-convenience consumers prefer AI-enabled checkouts over traditional ones, whereas low-convenience consumers are indifferent. Based on the Roy adaptation model theoretical framework, this occurs because high-convenience consumers experience greater financial anxiety when using AI-enabled checkouts, which in turn leads to higher purchase intent.Originality/valueTo the authors’ knowledge, this is the first study to explore the reactions of Saudi Arabian consumers toward cashier-less stores versus traditional stores. Interestingly, their intent to purchase increases, due to the financial anxiety they experience while encountering AI-enabled transactions. Due to the limited research of retailers going cashier less, little is known about consumer reactions and how they may differ culturally.

Relationship Between Migration Characteristics, Attitude to Money, Financial Anxious and Intentions to Work Unlawful in Foreign Country: Case in Vietnam

Vietnamese people involved in illegal work abroad have received worldwide attention in recent times. Studies that explore the causes of this fact are mainly qualitative. This study applies a quantitative research method to clarify the relationship between emigration personality, Attitude towards money, financial anxiety, and intention to engage in illegal labour to fill that overseas gap law of Vietnamese people. This study was conducted through a cross-sectional survey using a targeted sampling technique of 400 study participants. The SEM model is used to test the hypotheses posed, and the research results through the model show that: (i) Migration personality has a positive and significant impact on attitudes about money; (ii) Financial anxiety and intention to engage in illegal work abroad; (iii) Attitudes towards money positively and significantly affect intention to engage in illegal work abroad; (iv) Financial anxiety has a positive and significant impact on intention to engage in illegal work in the country; (v) There exists a positive and significant relationship between emigration personality and attitudes towards money; Attitude towards money with financial anxiety; Financial anxiety about the intention to engage in illegal work abroad. The conclusions of this study provide valuable data for government policymakers.

Financial Anxiety and Resilience among Rural Poor: An Exploration of Social Work Implication

Purpose of the Study: Financial literacy is the main challenge for the rural population of India. It also plays a vital role in the economic outlook. In India, many poor people do not have a bank account, and only a few understand the concept of financial literacy. Due to lack of financial literacy many rural poor experience financial anxieties hence the present study was taken up to know the financial anxiety and resilience behavior among rural poor. Methodology: The present study adopted the descriptive research design 62 respondents were selected for data collection from poor rural households by adopting the purposeful sampling technique in the Kodigenahalli Gram Panchayat jurisdiction. The present study was carried to assess the level of financial anxiety and its relationship with socio-demographical aspects. Main Findings: The present study found that financial anxiety is experienced by the rural poor, and there is a correlation between education, occupation, number of household members with financial anxiety of the respondents. Implication: The researcher proposed the need for Social Work Intervention to address financial anxiety and financial literacy. The novelty of the study: The present study has described the level of financial literacy and financial anxiety that exists among the rural poor in Karnataka (India) and explored the scope of Financial Social Work in addressing financial literacy and financial anxiety. Financial Social Work changes the conversation about money. It provides a different way of thinking about money and it offers a better way of working with clients around the role of money in their lives, problems and issues.

The role of self-esteem, optimism, deliberative thinking and self-control in shaping the financial behavior and financial well-being of young adults

The sustainable financial behavior and financial well-being have been a key concern among the developing societies; thereby encompassing the various psychological factors which play a role in influencing individual’s positive financial behavior and financial well-being, this study is conducted. Research focusing on the psychological aspect of human financial behavior and well-being is scarce, focusing more on the cognitive side such as financial literacy and numeracy. The aim of this research study is to find the role played by the non-cognitive factors such as self-esteem, self-control, optimism and deliberative thinking, in forming the financial behavior and financial well-being of the young adults. A sample of 429 university students from public and private sector was collected via an online and field survey using purposive sampling technique. The survey contained measures for demographics, self-esteem, optimism, deliberative thinking, self-control, general financial behavior and financial well-being. SPSS and PLS-SEM tools were used for the exploration of the relationships among dependent and independent variables. The results of PLS path analysis demonstrate that among the non-cognitive factors, self-control and deliberative thinking show a significant association with both financial behavior, and financial security. Self-esteem plays no significant role in forming the financial behavior of the young adults when all the variables are taken together but it exhibits a significant association with financial well-being (financial security and financial anxiety). Optimism on the other hand exhibits no significant association with both financial behavior and financial well-being (financial security and financial anxiety). The results of this study complement the previous studies and also put forth new outcomes. This research is unique as it is the first of its kind conducted in a consumption-oriented economy like Pakistan. In addition to the previous studies which have often established the link of self-esteem with general well-being, this study goes further by analyzing the association between self-esteem and financial well-being and by the identification of the role played by non-cognitive factors like self-esteem, optimism, deliberative thinking and self-control together on the financial behavior and financial well-being of the individuals using PLS-SEM approach.

"Why Am I the Only One Responsible for the Whole Family?": Expressions of Economic Filial Piety and Financial Anxiety Among Female Survivors of Sex Trafficking in Cambodia

Filial piety has evolved and spread in different ways throughout Asia, with the common thread of deep respect and gratitude towards one’s parents remaining a very strong cultural value. In Khmer culture, filial piety includes the expectation that daughters and daughters-in-law provide daily assistance to parents and parents-in-law. Financial anxiety includes the worry and negative mental health outcomes associated with financial stressors. This article presents findings from the Butterfly Longitudinal Research Study on themes on filial piety and financial anxiety, combining survey results from across multiple years as well as a thematic analysis of themes from focus group discussions and interviews with 77 female study participants over five years in Cambodia. Findings explore the survivors’ feelings of responsibility towards their family and the financial and mental health burden of that responsibility; the cycles of debt experienced by survivors and their families; and the overall feelings of worry, guilt, and stress with respect to financial issues. The research concluded that survivors see filial piety as an expression of gratitude but suffer from financial anxiety as well as financial instability and indebtedness. A framework of financial capability is suggested, acknowledging the centrality of family and the need to embed social work and psychosocial support in any economic reintegration effort. Further analysis is recommended on economic shocks, vulnerable work, and experiences around savings.

Job Insecurity, Work-Related Flow, and Financial Anxiety in the Midst of COVID-19 Pandemic and Economic Downturn

During the COVID-19 pandemic, every domain of industry has experienced a severe economic downturn with concomitant stress throughout the economy. Employees working in government and private sectors are experiencing different psychological problems. The current study was conducted to investigate the role of work-related flow in the relationship of job insecurity with financial anxiety in the employees working in private and government sectors of Saudi Arabia. The sample comprised 1,195 employees, 886 females, and 309 males. The participants' ages ranged from 25 to 60 years. The Financial Anxiety Scale, Work-Related Flow Inventory, and Qualitative Job Insecurity Measures were found valid and reliable. Structural equation modeling was applied to test the associations. As hypothesized, the results indicated that job insecurity was positively related to financial anxiety, work-related flow was negatively associated with financial anxiety, and work-related flow mediated the relationship between job insecurity and financial anxiety. All these associations were significant regardless of gender, age, marital status, sector of employment, income, self-rated health, and COVID-19 infection status. Further research is needed to understand the impact of job insecurity on financial anxiety in-depth through the paths of work-related flow, especially in the midst of COVID-19.

Faktor-Faktor yang Memengaruhi Kecemasan Keuangan pada Remaja Kota Surabaya

This study is the first study in Indonesia that examines the factors that influence financial anxiety. Financial anxiety is a negative psychological impact where there is a decrease in various aspects so that, in total, it causes stress levels to jump. This study focuses on adolescents who live in Surabaya, which, based on BPS data, the city of Surabaya has the largest population in East Java and is dominated by adolescents. This study aims to determine the effect of income, debt, financial knowledge, and financial satisfaction on financial anxiety. Data were collected by distributing online questionnaires with random sampling methods to 154 respondents. Then, data were tabulated in excel, analyzed and processed using multiple linear regression in SPSS. The result of this study indicates that none of the independent variables affects financial anxiety. This is presumably due to the lack of public knowledge about financial anxiety, especially among Surabaya adolescents. Few studies examine financial anxiety as the dependent variable, which thought to cause limited public knowledge about this topic. Therefore, this study is expected to increase knowledge, literacy, and public awareness regarding financial anxiety, especially to adolescents in Surabaya.

Excessive use of social networking sites and financial well-being among young adults: the mediating role of online compulsive buying

Purpose This study aims to examine the mediating role of online compulsive buying in the association between excessive use of social networking sites (SNS) and financial well-being among Chinese young adults. Design/methodology/approach A sample of 539 SNS users and active online shoppers (M age = 20.32 years, SD age = 2.11) completed an online survey questionnaire measure of excessive use of SNS, online compulsive buying and financial well-being. Covariance based-structural equation modelling was used to assess the measurement model and the proposed mediation model. Findings Results indicated that excessive use of SNS was positively related to online compulsive buying behaviour and financial anxiety. Also, the results showed that online compulsive buying mediated the positive relationship between excessive use of SNS and financial anxiety. Practical implications Several implications were suggested and discussed to enhance the levels of financial well-being among youths by tackling their problematic behaviour such as excessive SNS usage and online compulsive buying. Originality/value The findings of this study contribute to the limited body of knowledge in the area of financial well-being and further improves our understanding of the effect of the excessive use of SNS on financial well-being and the mechanism behind it.