Influence of Financial Literacy and Military Culture on Soldiers’ Financial Planning, Mediated by Retirement Awareness

Mohd Yusof Ahmad; Hafizah Mat Nawi; Mohd Abdullah Jusoh; Zailin Zainal Ariffin

doi:10.21834/e-bpj.v10iSI37.7624

Authors

Mohd Yusof Ahmad Faculty of Management and Defence Studies, National Defence University of Malaysia, 43000 Sungai Besi, Kuala Lumpur, Malaysia
Hafizah Mat Nawi Faculty of Management and Defence Studies, National Defence University of Malaysia, 43000 Sungai Besi, Kuala Lumpur, Malaysia
Mohd Abdullah Jusoh Faculty of Management and Defence Studies, National Defence University of Malaysia, 43000 Sungai Besi, Kuala Lumpur, Malaysia
Zailin Zainal Ariffin Faculty of Management and Defence Studies, National Defence University of Malaysia, 43000 Sungai Besi, Kuala Lumpur, Malaysia

DOI:

https://doi.org/10.21834/e-bpj.v10iSI37.7624

Keywords:

Financial literacy, military culture, retirement awareness, theory of planned behaviour

Abstract

This study examines the influence of financial literacy and military culture on the financial planning of Malaysian Armed Forces personnel, with retirement awareness as a mediating factor. Guided by the theory of planned behaviour and the life-cycle consumption model, financial planning is conceptualised as a behavioural outcome shaped by knowledge, attitudes, and military norms. A quantitative cross-sectional design using PLS-SEM is proposed to test these relationships. Results show that both factors significantly predict financial planning, with retirement awareness partially mediating the effects. The study offers insights into MINDEF, LTAT, and AKPK in strengthening soldiers’ financial readiness and retirement planning.

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