Religiosity, Financial Knowledge, and Financial Behavior Influence on Personal Financial Distress Among Millennial Generation

Abstract

This study attempts to examine the personal financial distress among Malaysians millennial generation by scrutinizing religiosity, financial knowledge, and financial behavior as the influencing antecedents. The study adopted social learning theory (SLT) to underpin and explain the conceptual framework. The data were collected from millennial generations in Malaysia and analysed using Partial Least Squares Structural Equation Modelling. The findings suggest that all claimed hypotheses were partially supported. Implication and contribution of the study were later discussed to justify the significance of this research. The findings revealed that behavioral traits to have a stronger impact on the incidence of personal financial distress than religiosity or financial knowledge. The results suggested the government should implement policy that could be oriented towards improving the financial habits and mitigating the impact of behavioral characteristics on personal finances

The Impact of Islamic Finance Knowledge and Religiosity on Gold Investment Behavior: An Extended of The Theory of Planned Behavior

“…It allows a religious individual to use gold as their Islamic financial agency's products. It is also in line with the previous study by Nugroho [21]; Abduh & Omar [22]; Lajuni et al [48] which show that religiosity affects the use of the Islamic bank product and Islamic financial attitude.…”

The Effect of Financial Knowledge on Financial Literacy with Mediated by Financial Behavior in Society of Palembang City South Sumatera

“…Hal sederhana dapat dimulai dari pengetahuan menabung. Peneliti keuangan dalam personal finance sudah mulai melakukan penelitian dengan subjek penelitian adalah usia dini, pelajar dan mahasiswa (Amanah et al, 2016;Archuleta, Dale, & Spann, 2013;Awallia & Dewi, 2019;Lajuni et al, 2018). Pada akhirnya seseorang yang memiliki pengetahuan keuangan yang baik maka literasi keuangan akan menjadi lebih baik.…”

“…Literasi keuangan adalah kemampuan seseorang terkait dengan pengelolaan keuangan dalam rangka mengambil keputusan secara efektif dan efisien (Ademola et al, 2019;Rai et al, 2019). Beberapa dimensi dalam pengukuran literasi keuangan terdiri dari tiga yaitu financial attitude, financial behavior, financial knowledge (Ibrahim & Alqaydi, 2013;Amanah et al, 2016;Herdjiono & Damanik, 2016;Arifin, 2017;Lajuni et al, 2018;Ademola et al, 2019;Rai et al,, 2019).…”

Generational Diversity, Personal Attributes and Organizational Commitment Among Employees of Corporate Consultancies

“…Generation Y was also identified as Millennials (Lajuni, Bujang, Karia & Yacob, 2018), born in the year 1981 to 2001 (Zemke et al, 2000); shared same life experiences in social and environmental context (Gursoy et al, 2013;Park & Gursoy, 2012); are said to be more creative, building social networks, have higher expectation in organization, high confidence level and technology savvy (Gursoy et al, 2013). They are also always expecting more social responsibilities and their own safety (Noble & Schewe, 2003); not believing in empowerment, but they believe in themselves and their commitment towards the organization itself (Gokul et al, 2012).…”