The Effects of Financial Knowledge, Financial Attitude and Locus of Control on Financial Well-Being among Students in Malaysian Public University: An Empirical Investigation

Abstract

Financial well-being is one of the elements of well-being and it was explained where an individual can control the financial matter on current life and future life as well without feeling worries on his or her financial situation and it is vital to get better quality of life. Therefore, this study aims to analyses the factors that influencing financial well-being among students in Malaysian public university. Three variables are tested for this study namely, financial knowledge, financial attitude, and locus of control. The sample for this study consisted of 54 students participated in the survey using purposive sampling. The data collected via online form. Multiple regression analysis is employed to analyse the data gathered. The findings revealed that there was a significant relationship between financial knowledge and financial attitude with financial well-being. However, there was an insignificant effect between with locus of control towards well-being. The results could be used as guide to related government agencies, financial institutions, and the individual as well in understanding the important of financial well-being to curb from facing financial problem and to sustain the quality of life from young age.