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Financial literacy, moderation and financial spending among youth

Ramlee, Roslily and Syed Mohd Zain, Sharifah Raihan and Wan Husain, Wan Rohaida and Jan, Muhammad Tahir (2019) Financial literacy, moderation and financial spending among youth. In: 1st International Conference on Financial Markets (ICFM 2019), 11-12 July 2019, Ibn Taimiyyah Conference Room,KENMS, IIUM Gombak.. (Unpublished)

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This paper investigates the practice of moderation (wasatiyyah concept) among the Malaysian university students in their financial decision making. Based on extant literature, we have discovered that there is massive problem in financial prudence of Malaysian university students. To this end, questionnaire was developed with several questions on wasatiyyah, financial literacy, materialism, and financial decisions. The data collected from the Malaysian university students were analysed using various analyses, such as exploratory factor analysis, confirmatory factor analysis, and structural equation modelling. It was found that wasatiyyah partially mediate the influence of materialism and financial literacy on students’ financial decisions. Within this domain, the paper is expected to offer fresh insight into the level at which the Malaysian university students are practicing wasatiyyah/moderation in their daily financial decisions. Moreover, relevant authorities, such as National Higher Education Fund Corporation (PTPTN), Bank Negara’s Central Credit Reference Information System (CCRIS), and Credit Counselling and Debt Management Agency (AKPK), could use this study as a reference point when making pertinent decisions.

Item Type: Conference or Workshop Item (Speech/Talk)
Additional Information: 4738/81768
Uncontrolled Keywords: Moderation (wasatiyyah), youth, financial decision, financial literacy
Subjects: H Social Sciences > HG Finance > HG179 Personal finance
H Social Sciences > HG Finance > HG201 Money
H Social Sciences > HG Finance > HG201 Money
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences > Department of Finance
Depositing User: Dr. Roslily Ramlee
Date Deposited: 15 Sep 2020 16:04
Last Modified: 15 Sep 2020 16:04
URI: http://irep.iium.edu.my/id/eprint/81768

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