Factors Affecting University Students’ Saving Behaviour in Malaysia

DOI

10.2991/978-94-6463-080-0_8How to use a DOI?

Keywords

Consumer Saving Behaviour; Financial Literacy; UTAUT; Young Malaysians; Intention to Save

Abstract

Financial complexity stems from a lack of financial literacy, excessive spending on unneeded products or impulse purchases, and sustaining an extravagant lifestyle, all of which have led to people resorting to loans to meet their requirements. Today, Malaysian young adults are indeed to be the main group of people who are currently enslaved by debt. Past studies mostly explored factors of personal saving behavior among Malaysian household and employees between 2011 and 2021. Studies conducted for young adults in the area of saving behavior are limited and not theory-driven, mainly focusing their level of financial literacy. To fill in this gap, this research aims to examine the saving behavior among Malaysian young adults. Using the Extended Theory of Planned Behavior (ETPB), this study attempts to investigate whether financial literacy (FL), family influence (FI), peer influence (PI), self-control (SC), and intention to save (ITS) have a substantial influence on university students’ saving behavior (SB) in Malaysia. Self-administered questionnaires are used to obtain primary data. 161 university students from both private and public higher learning institutions participated in the study. The study revealed that four independent variables (FL, FI, SC, and ITS) have a positive relationship with dependent variables (ASB). With FL having the biggest influence on ASB among the five. At the same time, PI are found to be insignificantly associated with ASB. This study gives important insights for Malaysian university students in terms of recognizing the relevance of financial literacy, family influence, self-control, and intention to save on saving behavior.

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Copyright

© 2022 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Yee Hui Looi
AU  - Lan Thi Phuong Nguyen
AU  - Saravanan Muthaiyah
PY  - 2022
DA  - 2022/12/26
TI  - Factors Affecting University Students’ Saving Behaviour in Malaysia
BT  - Proceedings of the International Conference on Technology and Innovation Management (ICTIM 2022)
PB  - Atlantis Press
SP  - 87
EP  - 101
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-080-0_8
DO  - 10.2991/978-94-6463-080-0_8
ID  - Looi2022
ER  -