Determinants of financial worry: A study among millennials in Malaysia

• Main Authors: Muhammad Nazhif Mohd Hamidi, Nur Kamila Mohd Nasir, Suhaila Sanusi, Tengku Azzrul Haqimie Tengku Azharizan Shah
• Format: Undergraduate Final Project Report
• Language: English
• Published: 2023
• Online Access: http://discol.umk.edu.my/id/eprint/13228/1/SAK37.pdf; http://discol.umk.edu.my/id/eprint/13228/

Financial worry refers to the emotional stress that is specifically and highly related to money. Nowadays, financial worry is common among millennials as they are loaded with many responsibilities and life commitments that need to be attended to. The purpose of this study wis to look for the determinants of financial worry among millennials in Malaysia. This research is conducted In order to look for the determinants among millennials in Malaysia. This study emphasizes on studying and analyzing whether spending habit, debt management, financial unpreparedness and retirement saving are the determinants of financial worry among millennials in Malaysia. The methodology that is used for the study is quantitative method by the creation of online questionnaire that has been used to collect respondent data. Data that are obtained has been ran through detailed analytic processes with the SPSS 25 software. Analytical analysis such as descriptive analysis, reliability analysis, Pearson Correlation Coefficient and Multiple Linear Regression had been used to obtain the vital info regarding the data such as reliability, normality and the strength or magnitude of relationship between the four variables and financial worry among millennials in Malaysia. After thorough analysis, the variable with the most significant strength towards financial worry is financial unpreparedness. In conclusion, financial unpreparedness is the most crucial variable. This research will be beneficial for future researchers and also the millennial society.