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Financial well-being for sustainable development goals (SDGs): family as the foundation

This study aims to evaluate the influence of parents (explicit and implicit) on the financial well-being of emerging adult workers in Malaysia. At the same time, this study will also examine if financial behaviour can mediate between parental influence and financial well-being. Respondents aged 19 t...

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Main Authors: Ghazali, Mohd Samsuri, Syed Alwi, Sharifah Faigah, Idris, Nur Hafidzah, Sabri, Mohamad Fazli, Abd Aziz, Nurul Nadia
Format: Article
Published: Universiti Malaysia Terengganu 2023
Online Access:http://psasir.upm.edu.my/id/eprint/108008/
https://jssm.umt.edu.my/archive/6752-2/
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spelling my.upm.eprints.1080082024-09-10T07:39:44Z http://psasir.upm.edu.my/id/eprint/108008/ Financial well-being for sustainable development goals (SDGs): family as the foundation Ghazali, Mohd Samsuri Syed Alwi, Sharifah Faigah Idris, Nur Hafidzah Sabri, Mohamad Fazli Abd Aziz, Nurul Nadia This study aims to evaluate the influence of parents (explicit and implicit) on the financial well-being of emerging adult workers in Malaysia. At the same time, this study will also examine if financial behaviour can mediate between parental influence and financial well-being. Respondents aged 19 to 29 from Sabah, Pahang, Perak, Selangor, and Melaka answered 500 survey-based online questions. The hypothetical model was statistically tested via Partial Least Square (SmartPLS) version 3.3.2. Results show that both implicit and explicit features of family financial socialisation considerably impact emerging adults financial conduct. However, implicit factors significantly impact emerging adults financial conduct more than explicit factors. Results also confirm the role of financial behaviours as a mediator between the influence of parents and the financial well-being of emerging adults. Therefore, this study supports the hypothesis that parental effects extend beyond infancy to emerging adulthood. Parents may aid their children by demonstrating and imitating healthy financial behaviours and directing and guiding them. The requirement of boosting financial well-being to meet the SDGs goals is stressed in this study since the financial component is vital to success. Universiti Malaysia Terengganu 2023 Article PeerReviewed Ghazali, Mohd Samsuri and Syed Alwi, Sharifah Faigah and Idris, Nur Hafidzah and Sabri, Mohamad Fazli and Abd Aziz, Nurul Nadia (2023) Financial well-being for sustainable development goals (SDGs): family as the foundation. Journal of Sustainability Science and Management, 18 (10). 81 -97. ISSN 1823-8556; ESSN: 2672-7226 https://jssm.umt.edu.my/archive/6752-2/ 10.46754/jssm.2023.10.006
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 aims to evaluate the influence of parents (explicit and implicit) on the financial well-being of emerging adult workers in Malaysia. At the same time, this study will also examine if financial behaviour can mediate between parental influence and financial well-being. Respondents aged 19 to 29 from Sabah, Pahang, Perak, Selangor, and Melaka answered 500 survey-based online questions. The hypothetical model was statistically tested via Partial Least Square (SmartPLS) version 3.3.2. Results show that both implicit and explicit features of family financial socialisation considerably impact emerging adults financial conduct. However, implicit factors significantly impact emerging adults financial conduct more than explicit factors. Results also confirm the role of financial behaviours as a mediator between the influence of parents and the financial well-being of emerging adults. Therefore, this study supports the hypothesis that parental effects extend beyond infancy to emerging adulthood. Parents may aid their children by demonstrating and imitating healthy financial behaviours and directing and guiding them. The requirement of boosting financial well-being to meet the SDGs goals is stressed in this study since the financial component is vital to success.
format Article
author Ghazali, Mohd Samsuri
Syed Alwi, Sharifah Faigah
Idris, Nur Hafidzah
Sabri, Mohamad Fazli
Abd Aziz, Nurul Nadia
spellingShingle Ghazali, Mohd Samsuri
Syed Alwi, Sharifah Faigah
Idris, Nur Hafidzah
Sabri, Mohamad Fazli
Abd Aziz, Nurul Nadia
Financial well-being for sustainable development goals (SDGs): family as the foundation
author_facet Ghazali, Mohd Samsuri
Syed Alwi, Sharifah Faigah
Idris, Nur Hafidzah
Sabri, Mohamad Fazli
Abd Aziz, Nurul Nadia
author_sort Ghazali, Mohd Samsuri
title Financial well-being for sustainable development goals (SDGs): family as the foundation
title_short Financial well-being for sustainable development goals (SDGs): family as the foundation
title_full Financial well-being for sustainable development goals (SDGs): family as the foundation
title_fullStr Financial well-being for sustainable development goals (SDGs): family as the foundation
title_full_unstemmed Financial well-being for sustainable development goals (SDGs): family as the foundation
title_sort financial well-being for sustainable development goals (sdgs): family as the foundation
publisher Universiti Malaysia Terengganu
publishDate 2023
url http://psasir.upm.edu.my/id/eprint/108008/
https://jssm.umt.edu.my/archive/6752-2/
_version_ 1811685976669421568
score 13.211869

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