The probability factor influences the level of financial well-being of workers in Malaysia

Generally, the dual-income family households earn higher income than the single-income family households as both husband and wife are working and earning money for the family. Dual-income households should have more advantages in terms of better level of financial well-being in comparison to single-...

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Main Author:	Zaimah R.
Format:	Article
Language:	English
Published:	Penerbit Universiti Kebangsaan Malaysia 2019
Online Access:	http://journalarticle.ukm.my/14194/ http://journalarticle.ukm.my/14194/ http://journalarticle.ukm.my/14194/1/32677-107819-1-PB.pdf

id	ukm-14194
recordtype	eprints
spelling	ukm-141942020-02-12T14:02:45Z http://journalarticle.ukm.my/14194/ The probability factor influences the level of financial well-being of workers in Malaysia Zaimah R., Generally, the dual-income family households earn higher income than the single-income family households as both husband and wife are working and earning money for the family. Dual-income households should have more advantages in terms of better level of financial well-being in comparison to single-income households. The workers in dual-income family are also expected to have a better level of financial well-being. Therefore, this study aims to determine the probability factors affecting the workers’ level of financial well-being. The sample of the study was married workers in the public sector, with focus on workers who are in a dual-income family. The analysis unit in this study is the individual. A total of 415 married workers were analyzed in this study. Multinomial logistic regression analysis was applied in identifying the probability factors of various levels of financial well-being (low, moderate, high) which includes socioeconomic background, financial knowledge, financial behavior and financial decision making factors. The logistic regression analysis showed the socioeconomic background (age, monthly income, home ownership and financial product ownership), financial behavior and financial decision making of the husband have a significant relationship with the respondents’ various levels of financial well-being. Factors such as age, monthly income, home ownership, financial product ownership and financial behavior were found to have an impact on financial well-being. Financial education needs to be implemented in the workplace to encourage workers to have good financial practices. This is necessary in order to ensure the financial well-being of their workers. Penerbit Universiti Kebangsaan Malaysia 2019-08 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/14194/1/32677-107819-1-PB.pdf Zaimah R., (2019) The probability factor influences the level of financial well-being of workers in Malaysia. Geografia : Malaysian Journal of Society and Space, 15 (3). pp. 122-135. ISSN 2180-2491 http://ejournals.ukm.my/gmjss/issue/view/1209
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Kebangasaan Malaysia
building	UKM Institutional Repository
collection	Online Access
language	English
description	Generally, the dual-income family households earn higher income than the single-income family households as both husband and wife are working and earning money for the family. Dual-income households should have more advantages in terms of better level of financial well-being in comparison to single-income households. The workers in dual-income family are also expected to have a better level of financial well-being. Therefore, this study aims to determine the probability factors affecting the workers’ level of financial well-being. The sample of the study was married workers in the public sector, with focus on workers who are in a dual-income family. The analysis unit in this study is the individual. A total of 415 married workers were analyzed in this study. Multinomial logistic regression analysis was applied in identifying the probability factors of various levels of financial well-being (low, moderate, high) which includes socioeconomic background, financial knowledge, financial behavior and financial decision making factors. The logistic regression analysis showed the socioeconomic background (age, monthly income, home ownership and financial product ownership), financial behavior and financial decision making of the husband have a significant relationship with the respondents’ various levels of financial well-being. Factors such as age, monthly income, home ownership, financial product ownership and financial behavior were found to have an impact on financial well-being. Financial education needs to be implemented in the workplace to encourage workers to have good financial practices. This is necessary in order to ensure the financial well-being of their workers.
format	Article
author	Zaimah R.,
spellingShingle	Zaimah R., The probability factor influences the level of financial well-being of workers in Malaysia
author_facet	Zaimah R.,
author_sort	Zaimah R.,
title	The probability factor influences the level of financial well-being of workers in Malaysia
title_short	The probability factor influences the level of financial well-being of workers in Malaysia
title_full	The probability factor influences the level of financial well-being of workers in Malaysia
title_fullStr	The probability factor influences the level of financial well-being of workers in Malaysia
title_full_unstemmed	The probability factor influences the level of financial well-being of workers in Malaysia
title_sort	probability factor influences the level of financial well-being of workers in malaysia
publisher	Penerbit Universiti Kebangsaan Malaysia
publishDate	2019
url	http://journalarticle.ukm.my/14194/ http://journalarticle.ukm.my/14194/ http://journalarticle.ukm.my/14194/1/32677-107819-1-PB.pdf
first_indexed	2023-09-18T20:06:33Z
last_indexed	2023-09-18T20:06:33Z
_version_	1777407196566388736

The probability factor influences the level of financial well-being of workers in Malaysia

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