Pathway to Financial Well-being:  A review on the role of psychological factors

Mohd Samsuri Ghazali; Sharifah Faigah Syed Alwi; Nurul Nadia Abdul Aziz; Siti Fahazarina Hazudin

doi:10.21834/e-bpj.v5i13.2063

Authors

Mohd Samsuri Ghazali Universiti Teknology Mara Shah Alam
Sharifah Faigah Syed Alwi Universiti Teknology Mara Shah Alam
Nurul Nadia Abdul Aziz Universiti Teknologi Mara Cawangan Pahang
Siti Fahazarina Hazudin Universiti Teknologi Mara Cawangan Pahang

DOI:

https://doi.org/10.21834/e-bpj.v5i13.2063

Keywords:

Financial well-being, Financial behavior, Psychological Factors,

Abstract

This paper aimed to complete a rigorous, systematic exploration of the literature investigating the effects of psychological factors on the financial well-being in Malaysia context. We identified 13 papers that report empirical evidence on the effect of psychological factors on the financial well-being in Malaysia context. The findings conclude that the studies in financial well-being are focusing on four groups of respondents namely college student, young employees, singles mothers and Muslim individual and the eleven types of psychological variables are identified. This assemblage of reviewed research papers will be useful for the academia and government to cultivate understanding on the psychological rumblings of an individual and leading to greater financial well-being, hence uplifting the quality of life of affected parties.

Keywords: Financial well-being; Financial behaviour; Psychological Factors;

eISSN: 2398-4287 Â© 2020. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open access article under the CC BYNC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peerâ€“review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia.
DOI: https://doi.org/10.21834/e-bpj.v5i13.2063

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