Assessing the Baby Boomers' Financial Wellness Using Financial Ratios and a Subjective Measure

Eunyoung, Baek; DeVaney, Sharon A.

doi:10.1177/1077727x04263826

Cited by 61 publications

(76 citation statements)

References 11 publications

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“…These respondents were in the age range of 40 years with an average length of married of 13 years and the average working period of 15 years. This finding indicates that more mature workers have better financial well-being and this is consistent with the findings of Kim et al (2003) and Baek and DeVaney (2004).…”

Section: Financial Ratio Frequency Percentagesupporting

confidence: 92%

“…In general, those respondents who were older, being married for a longer period and also worked longer had better financial well-being from the other cohorts of the respondents. Previous studies have also confirmed these findings, such as those by Kim et al (2003), Kim et al (2004), Baek and DeVaney (2004), and Xiao et al (2004).…”

Section: Financial Ratio Frequency Percentagesupporting

confidence: 76%

“…Several previous studies used the financial ratio to establish a benchmark of financial status (Baek & DeVaney, 2004;DeVaney, 1994;Greninger et al, 1996;Prather, 1990). The findings of these studies showed that financial ratios are useful in measuring current financial strength and progress over time.…”

Section: Financial Ratios -Savings Ratio and Debt-payment Ratiomentioning

confidence: 99%

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Financial Well-Being: Financial Ratio Analysis of Married Public Sector Workers in Malaysia

Zaimah¹,

Masud²,

Haron³

et al. 2013

ASS

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The purpose of this study is to explore the usefulness of two family financial ratio guidelines in assessing the financial well-being of married public sector workers in Malaysia. The ratios examined were savings and debt-payment. Data on 415 workers were gathered from the Financial Well-being of Workers of Dual-earner Family survey report in 2008. The findings showed most of the workers had a savings ratio of less than 10 percent. Meanwhile, more than half of the workers had debt-payments ratio of more than or equal to 20 percent. In addition, the workers fall into four categories, namely are A, B, C and D, of which level A is the best and level D the worst. Typically, most of the workers are in level D (42.2%) and level B (30.1%). In summary, the study revealed that the culture of saving among the workers was still at the unsatisfactorily level.

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Section: Financial Ratio Frequency Percentagesupporting

confidence: 92%

Section: Financial Ratio Frequency Percentagesupporting

confidence: 76%

Section: Financial Ratios -Savings Ratio and Debt-payment Ratiomentioning

confidence: 99%

See 1 more Smart Citation

Financial Well-Being: Financial Ratio Analysis of Married Public Sector Workers in Malaysia

Zaimah¹,

Masud²,

Haron³

et al. 2013

ASS

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“…Past studies studied socioeconomic characteristics such as age (Titus, Fanslow, & Hira, 1989;Zaimah, 2011), level of education, marital status and income (Joo & Grable, 2004;Baek & DeVaney, 2004) have an impact on financial well-being. They found that those who are married, older, possess higher education level and high level of income showed a higher financial well-being.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial Well-Being among Public Employees in Malaysia: A Preliminary Study

Mokhtar¹,

Husniyah²,

Sabri³

et al. 2015

ASS

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Public employee's innovativeness, responsiveness, efficiency and friendliness in services are the core prescriptions to enhance the competitiveness of one's country. Financial well-being and employees are two aspects that consequently related with each other that have received substantial deliberation from researchers, employers and financial advisor. Financial well-being can affect both direct and indirectly towards an individual, team and also organization. Changes in employee's financial well-being level whether it becomes high or low will affect their job performance. The purpose of this study is to discuss the level of public employee's financial well-being in Malaysia as well as to examine the determinants of financial well-being. A total of 73 questionnaires have been distributed through e-survey (email based) using convenient sampling technique in order to conduct this pilot test (pre-test). Only 30 public employees have participated in this study. The results identified that majority of public employees is at the moderate level of financial well-being. Even so, appropriate action should be taken through financial education in order to prevent worst case scenario in the future.

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“…A good financial behavior decreases the chances of financial distress (Godwin, 1994;Sorhaindo & Garman, 2002;Kim & Garman, 2003;Xiao et al, 2004;Baek & DeVaney, 2004;Husniyah et al, 2005;Husniyah & Fazilah, 2009). Positive financial behavior such as small personal loan, compliance with budget, decreasing life expenditures, financial planning, investment in pension fund and improving financial saving capable of reducing the financial stress and directly affecting the financial well-being (Sorhaindo & Garman, 2002).…”

Section: Literature Reviewmentioning

confidence: 99%

Financial Behaviors of Female Teachers in Malaysia

Zaimah¹,

Sum²,

Lyndon³

et al. 2013

ASS

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This paper aims to identify the pattern of financial behavior among female teachers in Bandar Baru Bangi, Selangor. A total of 325 female teachers was involved in the study. Questionnaires were used in the survey to collect data. Data on questions relating to socioeconomic background, financial knowledge and financial behavior were gathered. The financial behavior pattern was formulated using the 5-Likert scale and financial knowledge with the choice of either 'right' or 'wrong' answer. The analysis showed four dimensions that were interrelated on the assessment measurement of financial behavior: i) planning, ii) cash flow management, iii) saving and iv) usage of credit card. Descriptive analysis includes t-test and ANOVA were used to analyze the differences between the mean score of financial behavior across the factors such as age, level of education, monthly income and financial knowledge level. The findings showed the respondents had a substantial mean score in the four dimensions of financial behavior described above. The highest mean score was on the dimension of cash flow management which involve activities of paying bills and other expenses by installments. The findings also showed respondents aged more than 45 years old had good financial behavior in term of saving. In another word, as they grew older they cultivate better saving habit. The findings also showed that the respondents with the good financial behavior were among those who were good in saving their income. Further study is suggested to identify factors that influence the financial behavior among teachers. The financial behavior can describe the financial well-being of an individual or group which has an impact on the individual productivity level.

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Assessing the Baby Boomers' Financial Wellness Using Financial Ratios and a Subjective Measure

Cited by 61 publications

References 11 publications

Financial Well-Being: Financial Ratio Analysis of Married Public Sector Workers in Malaysia

Financial Well-Being: Financial Ratio Analysis of Married Public Sector Workers in Malaysia

Financial Well-Being among Public Employees in Malaysia: A Preliminary Study

Financial Behaviors of Female Teachers in Malaysia

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