Financial Wellbeing of Older Persons in Peninsular Malaysia

The purpose of the study was to investigate the financial wellbeing of older Malaysians and its association with fmancial status, financial literacy, money attitude, financial practices and financial problems. Data for h s cross-sectional study was obtained through interview with 1,841 older pers...

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Main Author:	Chan, Benjamin Yin Fah
Format:	Thesis
Language:	English English
Published:	2005
Subjects:	Older people - Malaya - Economic aspects
Online Access:	http://psasir.upm.edu.my/id/eprint/6017/1/FEM_2005_2.pdf
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id	my-upm-ir.6017
record_format	uketd_dc
spelling	my-upm-ir.60172023-01-04T08:22:31Z Financial Wellbeing of Older Persons in Peninsular Malaysia 2005-11 Chan, Benjamin Yin Fah The purpose of the study was to investigate the financial wellbeing of older Malaysians and its association with fmancial status, financial literacy, money attitude, financial practices and financial problems. Data for h s cross-sectional study was obtained through interview with 1,841 older persons (55 years and above) in Peninsular Malaysia. Systematically, Seventy-five out of the national total 1,173 sub-&vision/muh (provided by Department of Statistic) was chosen and four Enumeraaon Blocks (EBs) with hghest number of older persons age 55-75 were selected from each sub-&vision. The findmgs of the study revealed that majority of older Malaysians have negative net worth, low in financial literacy, money attitude and moderate financial practices. One thud of the respondents have at least one financial problem over the last year. Respondents who are financially literate have less financial problems. A sipficant relationshp was found between money attitude and financial practices, and also between financial practices and financial satisfaction. Determinants that sipficantly contributed to financial satisfaction were health, income adequacy, financial literacy, money attitude, fmancial practices, financial problems, net worth, home ownership, and ethnicity. However, through an open-ended question, some new factors such as comfortable life, able to cover expenses, pilgnrnage to Mecca, hardworking, phdanthropy are also contributed to the feelmg of financial wellbeing. It is important to educate the population about personal finance, inculcate a positive money attitude and financial practices to public as these d eventually lead to financial wellbeing of an individual. Older people - Malaya - Economic aspects 2005-11 Thesis http://psasir.upm.edu.my/id/eprint/6017/ http://psasir.upm.edu.my/id/eprint/6017/1/FEM_2005_2.pdf text en public masters Universiti Putra Malaysia Older people - Malaya - Economic aspects Faculty Human Ecology English
institution	Universiti Putra Malaysia
collection	PSAS Institutional Repository
language	English English
topic	Older people - Malaya - Economic aspects
spellingShingle	Older people - Malaya - Economic aspects Chan, Benjamin Yin Fah Financial Wellbeing of Older Persons in Peninsular Malaysia
description	The purpose of the study was to investigate the financial wellbeing of older Malaysians and its association with fmancial status, financial literacy, money attitude, financial practices and financial problems. Data for h s cross-sectional study was obtained through interview with 1,841 older persons (55 years and above) in Peninsular Malaysia. Systematically, Seventy-five out of the national total 1,173 sub-&vision/muh (provided by Department of Statistic) was chosen and four Enumeraaon Blocks (EBs) with hghest number of older persons age 55-75 were selected from each sub-&vision. The findmgs of the study revealed that majority of older Malaysians have negative net worth, low in financial literacy, money attitude and moderate financial practices. One thud of the respondents have at least one financial problem over the last year. Respondents who are financially literate have less financial problems. A sipficant relationshp was found between money attitude and financial practices, and also between financial practices and financial satisfaction. Determinants that sipficantly contributed to financial satisfaction were health, income adequacy, financial literacy, money attitude, fmancial practices, financial problems, net worth, home ownership, and ethnicity. However, through an open-ended question, some new factors such as comfortable life, able to cover expenses, pilgnrnage to Mecca, hardworking, phdanthropy are also contributed to the feelmg of financial wellbeing. It is important to educate the population about personal finance, inculcate a positive money attitude and financial practices to public as these d eventually lead to financial wellbeing of an individual.
format	Thesis
qualification_level	Master's degree
author	Chan, Benjamin Yin Fah
author_facet	Chan, Benjamin Yin Fah
author_sort	Chan, Benjamin Yin Fah
title	Financial Wellbeing of Older Persons in Peninsular Malaysia
title_short	Financial Wellbeing of Older Persons in Peninsular Malaysia
title_full	Financial Wellbeing of Older Persons in Peninsular Malaysia
title_fullStr	Financial Wellbeing of Older Persons in Peninsular Malaysia
title_full_unstemmed	Financial Wellbeing of Older Persons in Peninsular Malaysia
title_sort	financial wellbeing of older persons in peninsular malaysia
granting_institution	Universiti Putra Malaysia
granting_department	Faculty Human Ecology
publishDate	2005
url	http://psasir.upm.edu.my/id/eprint/6017/1/FEM_2005_2.pdf
_version_	1776100248522850304

Financial Wellbeing of Older Persons in Peninsular Malaysia

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