Factors Influencing Personal Bankruptcy Among Youth in Malaysia

Hassan, Suzana; Jati, Muhamad Khodri Kholib; Yatim, Nurul Huda Md; Majid, Mohd Azlan Abd

doi:10.35631/aijbaf.37007

Cited by 3 publications

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“…Studies have reported that students who study financial education will be more financially literate than others [17], [18]. Because financial literacy plays an important role in the daily lives of students, the government should consider organizing financial courses to promote financial knowledge amongst high school students [19]. Previous study [20] also asserted that financial literacy can be implemented successfully in the curriculum and allows students to have more financial literacy exposure.…”

Section: Promoting Financial Literacy Amongst Students With Online Le...mentioning

confidence: 99%

Incorporating financial literacy in video clips amongst high school students

Yin Yin,

Ong,

Abd. Hadi

2024

IJERE

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Young adults with enough financial knowledge can commonly make good financial decisions, whereas those who lack financial literacy are always burdened by student loans and credit card debts. Acquiring adequate financial knowledge has become crucial among young adults. The present study investigated the effectiveness of incorporating financial literacy into videos among high school students. The video clips were incorporated into financial literacy in the economics curriculum to engage students and facilitate their learning of financial literacy. This study employed the mixed-methods explanatory design. The data analysis procedures in this design involved collecting the quantitative data, analyzing the data, and using the data to guide the follow-up interviews. A total of 327 students participated in this study. The results showed a significant change in students’ behavior regarding financial literacy (F=271.847, p<.05). Financial literacy should be instilled to students from primary school through tertiary education to ensure long-term sustainability effects.

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Section: Promoting Financial Literacy Amongst Students With Online Le...mentioning

confidence: 99%

Incorporating financial literacy in video clips amongst high school students

Yin Yin,

Ong,

Abd. Hadi

2024

IJERE

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“…This is because they are unable to bear the cost of living and personal spending in the long run as they do not have a source of income and slowly moving toward bankruptcy in the future. This matter also mentioned Hassan et al (2021), stated that unemployed individuals will default on payments as there is no income gain, high dependency on emergency savings and end up filing for bankruptcy. Alias et al (2018) also stated that there is a long-run cointegration relationship between unemployment on secured financing.…”

Section: Literature Reviewmentioning

confidence: 99%

Factors Affecting Personal Bankruptcy among Malaysians

Che-Yahya,

Mohd Kassim,

Alyasa-Gan

et al. 2023

IMBR

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Malaysia faces higher bankruptcy cases involving personal bankruptcies among Malaysians despite increasing the threshold of a personal bankruptcy declaration. This research aims to study the factors influencing Malaysian personal bankruptcy, utilizing the macroeconomic aggregates as the determinants, which are inflation rate (IR), unemployment rate (UE), lending interest rate (LR), Gross Domestic Product (GDP) per capita and household final consumption expenditure (HFCE). This study uses a quantitative approach and time series analysis which includes a group of data from 1985 to 2021, i.e., 37 years of observations. The sample series of time frames is sufficient to assess the long-term relationship between the macroeconomic perspectives and personal bankruptcy. The data was analyzed using multiple linear regression analysis. The finding shows a significant negative relationship between Malaysian personal bankruptcy and unemployment rate, lending interest rate and household final consumption expenditure. In contrast, there is an insignificant relationship between Malaysian personal bankruptcy and the inflation rate

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“…Nowadays, most young people do not realize the importance of decision-making, money-saving, and monthly budget planning. Consequently, a total of 47% of bankruptcies in Malaysia occurred among the young generation between the ages of 18-35 [1], [2]. Public awareness of financial literacy should be raised since a majority of bankruptcies occur among young adults.…”

Section: Introductionmentioning

confidence: 99%

Factors that influence Malaysian-based financial literacy model among teenagers

Yin

Yusof

2022

IJERE

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Most of the young generation do not realize the importance of decision making, money-saving, and budget planning. Consequently, a total of 47% of bankruptcies in Malaysia occurred among young adults between the ages of 18-35. Young individuals account for the majority of bankruptcies, public awareness of financial literacy should be raised. More effective teaching in secondary school has attracted researchers' attention. One of the general objectives of the Malaysian curriculum for the students is to practice moral values. Money-saving can be considered as one of the moral values. Still, school teachers have to cover many other academic topics, and they always feel overburdened with all types of examination-oriented textbooks. Students' value towards money and attitude influence their financial decision. Other factors needed in financial literacy are decision-making and accountability. This study aimed to examine factors that influence students' human values in financial literacy. This study had instilled human values to encourage students to practice time-saving, decision making, money-saving, and other values related to their well-being in the future. The survey was employed in this study. Then, a video that integrated financial literacy and human values with a Malaysian-based real-world learning experience was created in stage two. In addition, the questionnaire was administered to 327 secondary school students after they watched the video. The structural equation modeling method was used to determine the factors that influenced the financial literacy model. The findings from the analysis retained four elements: practices, decision making, accountability, and human values. Future research can focus on a comparative analysis with neighboring countries.

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Factors Influencing Personal Bankruptcy Among Youth in Malaysia

Cited by 3 publications

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Incorporating financial literacy in video clips amongst high school students

Incorporating financial literacy in video clips amongst high school students

Factors Affecting Personal Bankruptcy among Malaysians

Factors that influence Malaysian-based financial literacy model among teenagers

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