The relationship between financial management behavior, financial attitude, financial self-efficacy and financial goals on private employees in Selangor, Malaysia / Mohamad Nur Syafiq Abdul Rahim

This study investigates factors affecting financial management behavior by examining the relationships among three factors including financial attitude, financial self-efficacy, and financial goals. The questionnaire was distributed and the findings were analysed using Statistical Package of Social Sciences 21.0 which are involved scale reliability, descriptive and regression analysis. The sample of the research is examined on the private employees in Selangor, Malaysia and there have 166 totals of respondents were selected through purposive sampling. Hierarchal Regression and factor analysis were employed to derive the results. The following are the results which are generated from this research study. The findings suggest that, three key factors have an effects on financial management behavior in which indicates that 22.8% of independent variables explained dependent variables. Financial attitude and financial self-efficacy have a significant relationship between financial management behavior. Meanwhile, it shows that there is no significant relationship between financial goals and financial management behavior. The results also indicate that financial self-efficacy becomes the important factors that influence the financial management behavior. Financial self-efficacy is the best predictor as most of private employees are refused to use credits when there is unexpected expenses occur. These findings could be useful references for related organizations as well as body of knowledge and practical implication that are interested in developing personal financial management in a context of avoiding from bankruptcy.