Factors predicting financial security of female-headed households
In microeconomic perspective, financial security is often linked with the individual level of saving, the ability to meet the emergency, an adequate fund during retirement and the stability of income. Current macro economic volatility caused several consequences and indirectly affect on consumer...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Faculty of Business Management, Universiti Teknologi MARA
2017
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/67431/ http://irep.iium.edu.my/67431/ http://irep.iium.edu.my/67431/1/Journal%20ArticleJEEIR2017-Financial%20Security%20FHH.pdf |
| Summary: | In microeconomic perspective, financial security is often linked with the
individual level of saving, the ability to meet the emergency, an adequate
fund during retirement and the stability of income. Current macro
economic volatility caused several consequences and indirectly affect on
consumer saving and spending. Additionally, with a higher cost of living
influenced consumers consumption especially among female-headed
households with a number of dependents and dual domestic/work roles.
This study investigates the relationships between financial strains, selfcoping
mechanisms, financial literacy, financial practices and financial
security. A cross-sectional study of multistage random sampling has been
used in the data collection. A structured questionnaire used in the survey
method to collect data from 521 female-headed households from six
single mothers associations in Malaysia. The results predicted that
financial strains, self-coping mechanisms, financial literacy and financial
practices explained 42.3% of the variance in financial security. The two
strongest predictors are the self-coping mechanisms and financial
practices. The implications of findings for policy makers, single mothers
associations and financial practitioners were discussed. |
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