Determinants of Financial Behaviours among Malaysians

The importance of inancial literacy in promoting good inancial behaviour has beenestablished in previous studies. Nonetheless, a study that speciically analyses Malaysianor Asian general public is very rare, despite various cases involving bankruptcies, suicidesand harassment that result from improper inancial decisions within the region. This studyfocuses on Malaysians' inancial literacy and inancial behaviour. It is hypothesized thatinancial behaviour is signiicantly correlated with inancial literacy. It is also expected thatMalaysians' inancial behaviour and inancial literacy vary signiicantly among those fromdifferent education and income levels. A quantitative approach was adopted for this study,utilizing questionnaire survey as the main research instrument. Results showed signiicant,positive correlation between inancial literacy and inancial behaviour. Moreover, lesseducated individuals and lower income earners were found to have lower inancial literacy.This paper provides a discussion on educational programmes that could be conducted inorder to enhance the public's inancial literacy and promotes good inancial practices,especially among these groups of individuals. activate javascript