International Journal of Academic Research in Business and Social Sciences

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A Study of the Correlation Between Financial Literacy and Financial Wellbeing among Employees of a Malaysian Manufacturing Firm

Open access

Azlineer Sarip, Hafizah Abdul Majid, Roziana Shaari, Irza Hanie Abu Samah, Mohamad Abdillah Royo

Pages 1529-1536 Received: 07 Dec, 2023 Revised: 10 Jan, 2024 Published Online: 12 Feb, 2024

http://dx.doi.org/10.46886/IJARBSS/v14-i2/9733
Financial wellbeing has emerged as a compelling issue of discourse among government bodies and researchers. It is frequently acknowledged that people with sufficient financial preparedness are better equipped to overcome financial setbacks, such as bankruptcies, with greater ease. Hence, it is crucial to carry out a quantitative analysis post-pandemic to evaluate if there have been any changes since the previous report. This study included one hundred employees from a manufacturing company. The data were gathered through self-administered questionnaires. The study findings suggest that the employees involved in the research exhibit a moderate level of financial literacy and well-being. There is a moderate positive relationship between financial literacy and financial wellbeing, as shown by the Spearman correlation analysis. Finally, the study suggests using subjective measuring approaches to enhance the understanding of financial literacy and financial wellbeing from an international perspective.
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