The Impact of Financial Shock, Behavior, and Knowledge on the Financial Fragility of Single Youth

Abstract

Financial fragility is an important issue in the well-being of individuals. Previous studies have shown that many young people are vulnerable to financial fragility. To add value to previous findings, the issue of financial fragility was focused on single youths in the middle-income group (M40) in urban areas. The objective of the study was to determine the factors influencing the financial fragility of single youth (M40) in urban areas. A quantitative approach using a survey method was applied. The study’s sample consisted of 25–34-year-old single urban youths. Questionnaires were used as research instruments and were distributed online. A total of 374 samples were analyzed using multilevel regression. The results of the analysis show that spending knowledge, financial behavior, saving behavior, and financial shock are the determining factors of financial fragility among M40 single youth in urban areas.