Financial Satisfaction and the Influence of Financial Literacy in Malaysia

Determinants of Financial Well-Being for Generation Y in Malaysia

“…This study narrows down this broad topic of life well-being to explore just one component of it -the financial well-being. Sufficient studies and extant literature have shown that financial well-being has an effect on a person's life well-being (Hira & Mugenda, 1998;Xiao, et al, 2008;Robb & Woodyard, 2011;Ali, et al, 2015;Taft, et al, 2013).…”

“…These contexts and circumstances are dependent on demographic and socio-economic factors as well as the components of financial literacy. It is well established that the components of financial well-being are interdependent (Joo & Grable, 2004;Huston, 2010;Robb & Woodyard, 2011;Taft, et al, 2013;Ali, et al, 2015).…”

“…Regardless, all three terms point to a similar definition. Extent studies on the subject matter is usually conducted with surveys focusing on financial attitudes and behaviours (Xiao, et al, 2008;Ali, et al, 2015;Duh, 2016).…”

“…There has been a growing interest in the world in exploring how financial well-being contributes to a fulfilling life (Hira & Mugenda, 1998;Xiao, et al, 2008;Robb & Woodyard, 2011;Ali, et al, 2015;Taft, et al, 2013). In Malaysia alone, numerous studies by academia (Loke, 2015;Taft, et al, 2013;Ali, et al, 2015) and trade publications (Asian Institute of Finance, 2015; This study begins with a review on extant literature on the field of financial literacy, the components that affect financial well-being and who the Gen-Y are.…”

“…In Malaysia alone, numerous studies by academia (Loke, 2015;Taft, et al, 2013;Ali, et al, 2015) and trade publications (Asian Institute of Finance, 2015; This study begins with a review on extant literature on the field of financial literacy, the components that affect financial well-being and who the Gen-Y are. A conceptual framework will be proposed with the research designs and methodology used to explore the questions that this study seeks out to answer.…”