| With the increased concern on income sustainability, this study proposes a new framework using the Family Financial Socialisation model in determining financial well-being. |
| With the increased concern on income sustainability, this study proposes a new framework using the Family Financial Socialisation model in determining financial well-being. The design of this study focuses on exploring perspectives like financial literacy, financial socialisation, financial capability and financial stress in promoting financial behaviour and financial well-being. Through stratified sampling, the researchers collected responses from 400 respondents working in private companies in Klang Valley using a selfadministered questionnaire. This study analysed the responses using Smart PLS for statistical analysis. The result indicated that financial literacy, financial capability, and reduced stress could positively impact financial behaviour and well-being. In contrast, financial socialisation from family members has no direct or indirect effect on financial behaviour and well-being. This research intends to rejuvenate the interest in financial well-being and provide a feasible solution for government institutions to enhance the financial well-being of private sector employees in Malaysia. |
