Predictors of financial hardship among single mothers in Peninsular Malaysia
Financial hardship remains a significant problem among the vulnerable groups, especially single mothers. The financial hardship may be contributed by various factors, including personality traits, materialism, stress and single mothers’ behaviours. Therefore, this study investigated the predictor...
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| Format: | Thesis |
| Language: | English English |
| Published: |
2022
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| Subjects: | |
| Online Access: | http://psasir.upm.edu.my/id/eprint/112779/1/112779.pdf |
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| Summary: | Financial hardship remains a significant problem among the vulnerable groups,
especially single mothers. The financial hardship may be contributed by various
factors, including personality traits, materialism, stress and single mothers’
behaviours. Therefore, this study investigated the predictors of single mothers’
financial hardship related to the conscientiousness trait, materialism, stress,
compulsive buying behaviour and savings behaviour. The Resource
Management Model of Stress, the Escape Theory and the Prospect Theory was
applied as the primary theoretical background of the study. Following that, a
conceptual framework was developed to identify the influence of the
conscientiousness trait, materialism and stress on single mothers’ financial
hardship. The conceptual framework also included the mediating effect of
compulsive buying behaviour and savings behaviour in the influence of the
exogenous variables on single mothers’ financial hardship. Additionally, this
study examined the moderating effect of income groups to assess the differential
effects of income groups on the influence between the exogenous variables and
single mothers’ financial hardship. Multi-stage random sampling was utilised to
collect data from 450 single mothers in four zones in Peninsular Malaysia which
is represented by four states, namely Perak, Selangor, Pahang and Melaka. The
self-administered questionnaire was distributed to the single mothers through the
randomly selected registered single mothers’ associations. A total of 407 usable
data was retained for further analysis. In this study, the data was statistically
analysed for descriptive analysis and Structural Equation Modelling with a
relatively good model fit. The findings revealed a significant influence of stress,
compulsive buying behaviour and savings behaviour on single mothers’ financial
hardship. An indirect mediation effect of compulsive buying behaviour was found
in the influence of conscientiousness traits and materialism on financial hardship,
meanwhile, partial mediation was depicted in the influence of stress on financial
hardship. However, no mediation effect of savings behaviour was demonstrated
in the influence between the exogenous variables and financial hardship.
Furthermore, a moderation effect of income groups between below hard-core
PLI and above hard-core PLI was found in the influence of savings behaviour on
financial hardship. This study appeared to support the importance of assessing
single mothers’ conscientiousness trait, materialism and stress factors, and
behaviours that can predict their financial hardship. The empirical evidence
suggested a social policy that promotes financial education for single mothers.
Furthermore, single mothers should also be educated on stress management in
an effort to manage and reduce their stress accordingly. This study also
emphasised some research implications and recommendations for future studies
of financial hardship and single mothers. |
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