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Factors influencing the awareness of personal financial planning in Malaysia

Personal financial planning is crucial for achieving life goals and managing financial risks, many individuals, particularly among Generation Z, struggle with it due to a lack of awareness and financial literacy. The study centers on Generation Z which includes individuals born between 1995 and 2010...

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Main Authors: Chai, Qiao Ping, Chia, Pei Wen, Tan, Ke Xuan, Tan, Zi Ee, Teo, Yi Xuan
Format: Final Year Project / Dissertation / Thesis
Published: 2024
Subjects:
HA Statistics
HG Finance
Online Access:http://eprints.utar.edu.my/6922/1/Chai_Qiao_Ping_2104862.pdf
http://eprints.utar.edu.my/6922/
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spelling my-utar-eprints.69222025-01-24T04:51:29Z Factors influencing the awareness of personal financial planning in Malaysia Chai, Qiao Ping Chia, Pei Wen Tan, Ke Xuan Tan, Zi Ee Teo, Yi Xuan HA Statistics HG Finance Personal financial planning is crucial for achieving life goals and managing financial risks, many individuals, particularly among Generation Z, struggle with it due to a lack of awareness and financial literacy. The study centers on Generation Z which includes individuals born between 1995 and 2010, typically ranging in age from 14 to 29 years old (Mahapatra et al., 2022). In this study, we discussed the relationship between personal knowledge, attitude, social influence, financial satisfaction, and self-efficacy between awareness of personal financial planning. To collect the data in this study, questionnaires were distributed to 424 Generation Z in Perak. This study aims to enhance understanding of personal financial planning among Generation Z in Perak using two theories which are Metacognition Theory and Self-Determination Theory (SDT). In this study, we discussed the relationship between personal knowledge, attitude, social influence, financial satisfaction, and self-efficacy between awareness of personal financial planning. The results of the analysis indicate that personal knowledge and social influence have significant influence on the awareness of personal financial planning. However, attitude, financial satisfaction, and self-efficacy have insignificant influence on personal financial planning. Therefore, it is recommended that financial advisory firms, Malaysian education and Generation Z should focus on these key factors when they attempt to improve the awareness of personal financial planning. 2024-06 Final Year Project / Dissertation / Thesis NonPeerReviewed application/pdf http://eprints.utar.edu.my/6922/1/Chai_Qiao_Ping_2104862.pdf Chai, Qiao Ping and Chia, Pei Wen and Tan, Ke Xuan and Tan, Zi Ee and Teo, Yi Xuan (2024) Factors influencing the awareness of personal financial planning in Malaysia. Final Year Project, UTAR. http://eprints.utar.edu.my/6922/
institution Universiti Tunku Abdul Rahman
building UTAR Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Tunku Abdul Rahman
content_source UTAR Institutional Repository
url_provider http://eprints.utar.edu.my
topic HA Statistics
HG Finance
spellingShingle HA Statistics
HG Finance
Chai, Qiao Ping
Chia, Pei Wen
Tan, Ke Xuan
Tan, Zi Ee
Teo, Yi Xuan
Factors influencing the awareness of personal financial planning in Malaysia
description Personal financial planning is crucial for achieving life goals and managing financial risks, many individuals, particularly among Generation Z, struggle with it due to a lack of awareness and financial literacy. The study centers on Generation Z which includes individuals born between 1995 and 2010, typically ranging in age from 14 to 29 years old (Mahapatra et al., 2022). In this study, we discussed the relationship between personal knowledge, attitude, social influence, financial satisfaction, and self-efficacy between awareness of personal financial planning. To collect the data in this study, questionnaires were distributed to 424 Generation Z in Perak. This study aims to enhance understanding of personal financial planning among Generation Z in Perak using two theories which are Metacognition Theory and Self-Determination Theory (SDT). In this study, we discussed the relationship between personal knowledge, attitude, social influence, financial satisfaction, and self-efficacy between awareness of personal financial planning. The results of the analysis indicate that personal knowledge and social influence have significant influence on the awareness of personal financial planning. However, attitude, financial satisfaction, and self-efficacy have insignificant influence on personal financial planning. Therefore, it is recommended that financial advisory firms, Malaysian education and Generation Z should focus on these key factors when they attempt to improve the awareness of personal financial planning.
format Final Year Project / Dissertation / Thesis
author Chai, Qiao Ping
Chia, Pei Wen
Tan, Ke Xuan
Tan, Zi Ee
Teo, Yi Xuan
author_facet Chai, Qiao Ping
Chia, Pei Wen
Tan, Ke Xuan
Tan, Zi Ee
Teo, Yi Xuan
author_sort Chai, Qiao Ping
title Factors influencing the awareness of personal financial planning in Malaysia
title_short Factors influencing the awareness of personal financial planning in Malaysia
title_full Factors influencing the awareness of personal financial planning in Malaysia
title_fullStr Factors influencing the awareness of personal financial planning in Malaysia
title_full_unstemmed Factors influencing the awareness of personal financial planning in Malaysia
title_sort factors influencing the awareness of personal financial planning in malaysia
publishDate 2024
url http://eprints.utar.edu.my/6922/1/Chai_Qiao_Ping_2104862.pdf
http://eprints.utar.edu.my/6922/
_version_ 1822926525403496448
score 13.232389

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