Measuring Financial Literacy And Financial Behaviours Among Employees In Malaysia: A Comparative Study
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Rosasmanizan binti Ahmad
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Politeknik Tuanku Syed Sirajuddin, Perlis,
Malaysia
Abstract
The most important factor for a person to consider when determining and achieving financial pleasure is their level of financial literacy. Particularly in this challenging day where people's needs are constantly growing and the standard of living has already improved over time. This paper examines the factors and relationship between the levels of financial literacy and financial behaviour among employees in Malaysia. This provokes the question, ‘What are the factors that influence the efficiency of financial literacy and the relationship between financial literacy and financial behaviour among staff? According to the Focus Group Survey conducted by the Counselling and Debt Management Agency (AKPK), the primary cause of the majority of people who are stuck in debt troubles is their ignorance of personal financial management. Anyone, regardless of age, who is involved in this problem. Due to the restricted financial resources, people are forced to work very hard to reach a comfortable level, which is why more people are listed. The issue of ineffective financial management arose from a failure to comprehend the fundamentals of finance. To determine the established connection between financial literacy and potential intervening and moderating variables of financial behaviour, the current study aims to critically analyse the literature. The gaps in the current literature are noted and suggested for additional study in the context of the workplace. The literature review's findings suggest that there are distinctions in the definition and measurement of financial behaviour and financial literacy. Furthermore, there appears to be a correlation between sound financial behaviour and financial literacy.
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