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Determinants of saving behavior among the students at Universiti Putra Malaysia

This study aimed to determine the relationship between financial literacy, parental socialization, peer influence, self-control, and saving behavior among the students at Universiti Putra Malaysia. Two hundred fifty students from Universiti Putra Malaysia were selected via simple random sampling....

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Main Authors: Jaffar, Muhamad Wafiy Asnawi, Md Jusoh, Zuroni, Mohamed, Rozita Naina
Format: Article
Published: Jurnal Terbitan Persatuan Ekonomi Pengguna Dan Keluarga Malaysia 2022
Online Access:http://psasir.upm.edu.my/id/eprint/100929/
https://macfea.com.my/jilid-2-vol-38-dec-2022/
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spelling my.upm.eprints.1009292023-07-13T08:03:38Z http://psasir.upm.edu.my/id/eprint/100929/ Determinants of saving behavior among the students at Universiti Putra Malaysia Jaffar, Muhamad Wafiy Asnawi Md Jusoh, Zuroni Mohamed, Rozita Naina This study aimed to determine the relationship between financial literacy, parental socialization, peer influence, self-control, and saving behavior among the students at Universiti Putra Malaysia. Two hundred fifty students from Universiti Putra Malaysia were selected via simple random sampling. A questionnaire was used to collect the quantified research data. The data obtained were analyzed using SPSS software version 26. Pearson correlation is used to determine the relationship between variables, and Multiple Linear Regression is used to examine the relationship between one dependent variable and several independent variables. The findings show that there was a significant relationship between parental socialization (r= r = 0.532**, p = 0.000), a significant relationship between financial literacy and saving behaviour (r = 0.425**, p = 0.000), a significant relationship between self-control and saving behaviour (r = 0.271**, p = 0.000), and a significant relationship between peer influence and saving behaviour (r = 0.266**, p = 0.000). Multiple Linear Regression analysis also found that financial literacy, parental socialization, peer influence, and self-control had a significant relationship with saving behavior (R2 = 0.382, F = 37.806, and p < 0.05). In conclusion, all the independent variables are significant in saving behavior. The study contributed significantly to assisting the retail banks and policymakers in providing the students with sufficient knowledge about saving and reducing bad attitudes and behaviors. Retail banks and policymakers should establish an effective education program based on students' needs and level of financial literacy. Parents must encourage their children to save, which will positively impact their future lives and personal well-being. Jurnal Terbitan Persatuan Ekonomi Pengguna Dan Keluarga Malaysia 2022-12 Article PeerReviewed Jaffar, Muhamad Wafiy Asnawi and Md Jusoh, Zuroni and Mohamed, Rozita Naina (2022) Determinants of saving behavior among the students at Universiti Putra Malaysia. Jurnal Pengguna Malaysia, 38 (2). 36 - 53. ISSN 1511 - 998X https://macfea.com.my/jilid-2-vol-38-dec-2022/
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
description This study aimed to determine the relationship between financial literacy, parental socialization, peer influence, self-control, and saving behavior among the students at Universiti Putra Malaysia. Two hundred fifty students from Universiti Putra Malaysia were selected via simple random sampling. A questionnaire was used to collect the quantified research data. The data obtained were analyzed using SPSS software version 26. Pearson correlation is used to determine the relationship between variables, and Multiple Linear Regression is used to examine the relationship between one dependent variable and several independent variables. The findings show that there was a significant relationship between parental socialization (r= r = 0.532**, p = 0.000), a significant relationship between financial literacy and saving behaviour (r = 0.425**, p = 0.000), a significant relationship between self-control and saving behaviour (r = 0.271**, p = 0.000), and a significant relationship between peer influence and saving behaviour (r = 0.266**, p = 0.000). Multiple Linear Regression analysis also found that financial literacy, parental socialization, peer influence, and self-control had a significant relationship with saving behavior (R2 = 0.382, F = 37.806, and p < 0.05). In conclusion, all the independent variables are significant in saving behavior. The study contributed significantly to assisting the retail banks and policymakers in providing the students with sufficient knowledge about saving and reducing bad attitudes and behaviors. Retail banks and policymakers should establish an effective education program based on students' needs and level of financial literacy. Parents must encourage their children to save, which will positively impact their future lives and personal well-being.
format Article
author Jaffar, Muhamad Wafiy Asnawi
Md Jusoh, Zuroni
Mohamed, Rozita Naina
spellingShingle Jaffar, Muhamad Wafiy Asnawi
Md Jusoh, Zuroni
Mohamed, Rozita Naina
Determinants of saving behavior among the students at Universiti Putra Malaysia
author_facet Jaffar, Muhamad Wafiy Asnawi
Md Jusoh, Zuroni
Mohamed, Rozita Naina
author_sort Jaffar, Muhamad Wafiy Asnawi
title Determinants of saving behavior among the students at Universiti Putra Malaysia
title_short Determinants of saving behavior among the students at Universiti Putra Malaysia
title_full Determinants of saving behavior among the students at Universiti Putra Malaysia
title_fullStr Determinants of saving behavior among the students at Universiti Putra Malaysia
title_full_unstemmed Determinants of saving behavior among the students at Universiti Putra Malaysia
title_sort determinants of saving behavior among the students at universiti putra malaysia
publisher Jurnal Terbitan Persatuan Ekonomi Pengguna Dan Keluarga Malaysia
publishDate 2022
url http://psasir.upm.edu.my/id/eprint/100929/
https://macfea.com.my/jilid-2-vol-38-dec-2022/
_version_ 1772813410387361792
score 13.211869

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