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Determinants of Savings Behaviour Among University Students in Sabah, Malaysia.

Most economists believe that anincrease in savings will flourish the growth of economic activities and further strengthening the economy of that particular nation. However, recent news report stated that household debts in Malaysia have gradually risen to 86.8% of its GDP, making it the most highly...

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Main Authors:	Amer Azlan Abdul Jamal, Wijaya Kamal Ramlan, Rosle Mohidin, Zaiton Osman
Format:	Article
Language:	English
Published:	2016
Subjects:	HG Finance
Online Access:	https://eprints.ums.edu.my/id/eprint/21655/1/Determinants%20of%20Savings%20Behaviour%20Among%20University%20Students%20in%20Sabah.pdf https://eprints.ums.edu.my/id/eprint/21655/
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spelling	my.ums.eprints.216552019-03-19T02:01:41Z https://eprints.ums.edu.my/id/eprint/21655/ Determinants of Savings Behaviour Among University Students in Sabah, Malaysia. Amer Azlan Abdul Jamal Wijaya Kamal Ramlan Rosle Mohidin Zaiton Osman HG Finance Most economists believe that anincrease in savings will flourish the growth of economic activities and further strengthening the economy of that particular nation. However, recent news report stated that household debts in Malaysia have gradually risen to 86.8% of its GDP, making it the most highly levered households in Asia. As a result, total household savings remained insufficient and they are mostly under prepared for retirement. What is more worrying is the young adults are reported to be the main group trapped into this financial complexity. This issue has raised concern on the needs to educate the young adults the fundamental value of supplementing their savings in order to ensure sufficiency of their future retirement income. With regard to savings behaviour, the needs of savingsamongst individuals differ from one to another as a result of different mind-set, behaviour, knowledge, and social environment. The research therefore intends to (i) investigate factors that influence savings behaviour amongst university and college students; and (ii) to examine the role of financial attitudes in mediating the relationship between financial literacy and savings behaviour. Structured questionnaires were distributed to 1728 undergraduate students studying at higher learning institutions across major cities in Sabah using convenient sampling technique. Structural equation modelling was applied using the SMART-PLS software v.2.0 to execute the analyses. Results revealed that family involvement, peer influence, self -control and financial literacy play an important role in nurturing students’ savings behaviour. In addition, students are said to have more favourable financial attitude when they are financially literate. Financial attitude however, does not have the mediation effect on the relationship between financial literacy and savings behaviour 2016 Article NonPeerReviewed text en https://eprints.ums.edu.my/id/eprint/21655/1/Determinants%20of%20Savings%20Behaviour%20Among%20University%20Students%20in%20Sabah.pdf Amer Azlan Abdul Jamal and Wijaya Kamal Ramlan and Rosle Mohidin and Zaiton Osman (2016) Determinants of Savings Behaviour Among University Students in Sabah, Malaysia. : 1 Issue: 1, 1 (1). pp. 24-37. ISSN 0128-1844
institution	Universiti Malaysia Sabah
building	UMS Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	Universiti Malaysia Sabah
content_source	UMS Institutional Repository
url_provider	http://eprints.ums.edu.my/
language	English
topic	HG Finance
spellingShingle	HG Finance Amer Azlan Abdul Jamal Wijaya Kamal Ramlan Rosle Mohidin Zaiton Osman Determinants of Savings Behaviour Among University Students in Sabah, Malaysia.
description	Most economists believe that anincrease in savings will flourish the growth of economic activities and further strengthening the economy of that particular nation. However, recent news report stated that household debts in Malaysia have gradually risen to 86.8% of its GDP, making it the most highly levered households in Asia. As a result, total household savings remained insufficient and they are mostly under prepared for retirement. What is more worrying is the young adults are reported to be the main group trapped into this financial complexity. This issue has raised concern on the needs to educate the young adults the fundamental value of supplementing their savings in order to ensure sufficiency of their future retirement income. With regard to savings behaviour, the needs of savingsamongst individuals differ from one to another as a result of different mind-set, behaviour, knowledge, and social environment. The research therefore intends to (i) investigate factors that influence savings behaviour amongst university and college students; and (ii) to examine the role of financial attitudes in mediating the relationship between financial literacy and savings behaviour. Structured questionnaires were distributed to 1728 undergraduate students studying at higher learning institutions across major cities in Sabah using convenient sampling technique. Structural equation modelling was applied using the SMART-PLS software v.2.0 to execute the analyses. Results revealed that family involvement, peer influence, self -control and financial literacy play an important role in nurturing students’ savings behaviour. In addition, students are said to have more favourable financial attitude when they are financially literate. Financial attitude however, does not have the mediation effect on the relationship between financial literacy and savings behaviour
format	Article
author	Amer Azlan Abdul Jamal Wijaya Kamal Ramlan Rosle Mohidin Zaiton Osman
author_facet	Amer Azlan Abdul Jamal Wijaya Kamal Ramlan Rosle Mohidin Zaiton Osman
author_sort	Amer Azlan Abdul Jamal
title	Determinants of Savings Behaviour Among University Students in Sabah, Malaysia.
title_short	Determinants of Savings Behaviour Among University Students in Sabah, Malaysia.
title_full	Determinants of Savings Behaviour Among University Students in Sabah, Malaysia.
title_fullStr	Determinants of Savings Behaviour Among University Students in Sabah, Malaysia.
title_full_unstemmed	Determinants of Savings Behaviour Among University Students in Sabah, Malaysia.
title_sort	determinants of savings behaviour among university students in sabah, malaysia.
publishDate	2016
url	https://eprints.ums.edu.my/id/eprint/21655/1/Determinants%20of%20Savings%20Behaviour%20Among%20University%20Students%20in%20Sabah.pdf https://eprints.ums.edu.my/id/eprint/21655/
_version_	1760229871180578816
score	13.211869

Determinants of Savings Behaviour Among University Students in Sabah, Malaysia.

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