Factors predicting financial security of female-headed households

Ahmad, Siti Yuliandi and Sabri, Mohamad Fazli and Abd Rahim, Husniyah and Osman, Syuhaily (2017) Factors predicting financial security of female-headed households. Journal of Emerging Economies and Islamic Research, 5 (1). pp. 17-30. E-ISSN 2289 - 2559

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Abstract

In microeconomic perspective, financial security is often linked with the individual level of saving, the ability to meet the emergency, an adequate fund during retirement and the stability of income. Current macro economic volatility caused several consequences and indirectly affect on consumer saving and spending. Additionally, with a higher cost of living influenced consumers consumption especially among female-headed households with a number of dependents and dual domestic/work roles. This study investigates the relationships between financial strains, selfcoping mechanisms, financial literacy, financial practices and financial security. A cross-sectional study of multistage random sampling has been used in the data collection. A structured questionnaire used in the survey method to collect data from 521 female-headed households from six single mothers associations in Malaysia. The results predicted that financial strains, self-coping mechanisms, financial literacy and financial practices explained 42.3% of the variance in financial security. The two strongest predictors are the self-coping mechanisms and financial practices. The implications of findings for policy makers, single mothers associations and financial practitioners were discussed.

Item Type:	Article (Journal)
Additional Information:	8086/67413
Uncontrolled Keywords:	financial security,financial strains,financial literacy, financial practices,female-headed households Malaysia
Subjects:	H Social Sciences > HG Finance > HG179 Personal finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Languages and Management
Depositing User:	Dr. Siti Yuliandi Ahmad
Date Deposited:	15 Nov 2018 16:32
Last Modified:	15 Nov 2018 16:32
URI:	http://irep.iium.edu.my/id/eprint/67431

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