Authors: Zaimah Ramli, Sarmila Md Sum, Novel Lyndon, Azima Abdul Manaf, Selvadurai, Sivapalan, Suhana Saad
Abstract: This paper is presented as part of UKM-GGPM-CMNB-144-2010 research funding titled “Subjective and Objective Assessment on Relationship of Financial Well-Being Measurements”. The paper aims to identify the pattern of financial behavior among the female teachers in Bandar Baru Bangi, Selangor. A total of 325 female teachers were involved in the study. Queationnaires were used in the survey. Data on the samples’ socio-economic background, financial knowledge and financial behavior were gathered through the questionnaires. There were 15 items on the financial knowledge with the choice of either ‘right’ or ‘wrong’ answer. Financial behavior pattern was formulated using the 5-Likert scale responses of “1=never”, “2=seldom”, “3=sometimes”, “4=often” and “5=always” and comprises of 12 questions. Analysis showed four dimensions that were interrelated on the assessment measurement of financial behavior: i) planning, ii) cash flow management, iii) saving and iv) usage of credit card. Descriptive analysis which includes frequency, percentage, mean and standard deviation were carried out to analyze the findings. Meanwhile, t-test and ANOVA were used to analyze the differences between the mean score of financial behavior across the factors such as age, level of education, monthly income and financial knowledge level. Findings showed the respondents had a substantial mean score in the four dimensions of financial behavior described above. The most substantial mean score was on the dimension of cash flow management which involved the activites of paying bills and other expenses by installments. Findings also showed respondents aged more than 45 years old had good financial behavior in term of saving. In another word, as they grew older they became better on saving. Findings also showed that the respondents with the best financial behavior were among those who were good in saving their income. Further study is suggested to identify factors that influence the financial behavior among teachers. Financial behavior can described the financial well-being of an individual or group which has an impact on the individual productivity level.
Keywords: financial behavior, financial knowledge, financial well-being, female teacher