CHAPTER 1: RESEARCH OVERVIEW

1.0 Introduction

Chapter one aims to introduce the overview of the research topic. The background of the

study is stated initially and followed by clarification of problem statement, defining

research objectives and research questions, set up of relevant hypotheses and

discussion of the significance of study. Lastly, this chapter is concluded with an outline of

each chapter of the research.

1.1 Background of study

Nowadays, price of goods and services become more expensive and it’s difficult to

predict. Financial management is important to face the phenomenon that occur in

develop country like Malaysia. According to Harrod (1939) and Domar (1946), the ability

to save is depend on the speed of economic growth because high savings rate will drive

up the rate of investment and consequently stimulates economic growth. However,

Malaysia savings rate has declined in recent years. As per world bank data, gross

domestic saving (% of GDP) of Malaysia has been oscillating between 42%and 43%from

year 1999 to 2008 but falls drastically to 36% in 2009.

Moreover, Malaysian Department of Insolvency had reported a total of 224943

individual bankruptcy cases from 1990 to 2010 and this number keeps increasing from

year to year. Most worries are that the number is coming from young adult which is

below age 30. Statistics from Bank Negara Malaysia (BNM) show that, bankruptcy cases

keep increasing year to year. In year 2005, 15868 bankruptcy cases were recorded,

13590 cases (2006), 13238 cases (2007), 13855 cases (2008), 16228 cases (2009) and

1
18119 cases (2010) and 17650 cases (2011). By referring the ethnic group in Malaysia,

Malay citizen has highest percentage of bankruptcy cases for year 2012 follow by

Chinese, Indian and Others. This situation is not a good sign for a developing country

like Malaysia, since it might affects the economic performance of the country in the long

term.

From the past study, 60% of the respondents reported they are not saving enough and

worse is 15% of the respondents do not practice saving. According to Ulkumen,

Thomas, & Morwitz (2008) wrong prediction in spending may cause insufficient saving.

While, lapses in self-control (Baumeister, 2002), 0ver emphasis on the present rather

than the future (Lynch & Zauberman, 2006), or culture effects (Briley & Aker, 2006) also

can be a factor that influence insufficient saving. Other than lack of saving awareness,

Malaysians also poor in managing their financial that make them incurred into debts due

to over use in credit card, lack of budgeting, overspending, inadequate shopping and

lack of knowledge about money.

Early exposure to financial planning is important for the younger generation because

they have various obligations such a paying back the loans used to finance their

university education even before they graduated. Financial planning is an important

aspect of our daily life involving cash flow and liability management. Some of the most

important aspects include the maintenance and enhancement of personal cash flows

through a multiplicity of channels including debt control and maintenance of lifestyle.

2
1.2 Problem Statement

Malaysia is considered a multi ethnic country with Malay, Indian and Chinese, and a

multicultural society with a mixture of Muslim, Hindus and Buddhists. According to the

Nellie Mae Annual report (2002) surprisingly, the Chinese students have the lowest level

of financial skills even though Chinese were generally economically better than other

ethnic groups. Indian students have the highest level and Malaysian students are in the

average level. According to Joo (2008) investigate that financial problems are the direct

output of financial behaviour like saving behaviour, however, it is assumed that financial

behaviour by mediating with financial problems can influence financial satisfaction.

As education loans become a major source of financing for university students in

Malaysia, their personal financial management skills need to be assessed to ensure

effective and efficient use of financial resources. The research findings indicate that

while students have wide access to financial services, such as education loans and

credit, they lack the financial management knowledge and experience to manage

money, which may lead to financial problem (Goldsmith and Goldsmith, 2006; Kidwell

and Turrisi, 2004; Masud et al., 2004; Norvilitiset al., 2006).

The National Higher Education Fund Corporation loan (PTPTN) is the major source of

financing for tertiary education in Malaysia. The availability of this loan since 1997 has

enabled more students to pursue higher education support the cost of living. However,

according to Masud (2004) and Sabri (2008) revealed that, university students are

experiencing financial problems due to the lack of financial literacy. University students

report having high debt, serious credit card usage, and high stress, as well as low

financial satisfaction due to the lack of financial management skills (Holub, 2002; Nellie,

2002; Norvilitis et al., 2006; Norvilitis et al., 2003).

3
Sabri (2008) conducted a study among Malaysian college students and found that, most

of them were uncertain about where money is spent and that they bought unnecessary

things and lent money to friends. Students spend most of their extra money on food, but

a large portion goes to cell phone service, entertainment and clothing. According to (

Benartzi, 2012) indicated that common people usually do not have the access of

knowledge about saving behaviour in their activity, specifically youth generations do not

aware about the uncertainty in the future life.

Experience says that college students are now demanding luxury, and they are not

seeing the problem with their spending. However, because of the growing purchase of

goods and services for social display value among Asian students, the number of

students facing financial problems increased significantly (Fan and Burton, 2002;

Roberts and Jones, 2001; Ying, 2003). On the other hand, parents socialization and

peer influence is play an important role that can influence saving behaviour among

college students. According to john (1999) study that parents are the primary and direct

source of financial practices, followed by peers who are an additional source of influence

in financial socialization, and finally the mass media and advertising provide information

about consumption and the value of material goods.

According to Sabri (2008), the findings indicate that financial knowledge is a strong

predictor of financial behaviour and a preventive factor for financial problems. The term

financial problem generally refers to mismatch between financial resources and

demands (Kerkmann, Lee, Lown, &Allgood, 2000). The manner in which college

students manage their money is based on several factors such as age, personality traits,

and knowledge (Norvilitis, et al., 2006). Thus, self-control also may influence saving

behaviour among Malaysian. “In order to save money, one must be able to exercise self-

4
control in delaying gratification and resisting the temptation to spend” (Thaler, 1994;

Rabinovich and webley, 2007).

College students are in a unique situation because they have restricted incomes and

high expenses; therefore, they manage money differently (Micomonaco, 2003).The more

knowledge students have about their financial responsibility and status the less

likelythey are to be in debt (Norvilitis,et al., 2006). In “borrowing against the future:

practices, attitudes and knowledge of financial management among college students”.

Although, college students are concerned about their future financial status and 67% of

freshmen at four-year colleges or universities have concerns about paying their tuition.

This is the highest amount of concern expressed in over a decade (Gordon 2010).

Therefore, the stated problem could be solved by this study as the Theory of Planned

Behaviour (TPB) is applied to investigate the factors that contribute saving behaviour

among students of UiTM Malacca city campus.

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1.3 Research Objectives

In order to achieve the stated primary purpose in the research, several objectives has

been constructed to help the study to clearly focus on the areas that need that will

support to answer the problem statement. The proposed research objectives are as

following:

R01: To examine the relationship between financial literacy and saving behaviour

among students of UiTM Malacca city campus.

R02: To examine the relationship between parental socialization and saving behaviour

among students of UiTM Malacca city campus.

RO3: To examine the relationship between peer influence and saving behaviour

among students of UiTM Malacca city campus.

R04: To examine the relationship of self-control and saving behaviour among students

of UiTM Malacca city campus.

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1.4 Research Questions

After an extensive review of the literature regarding saving behaviour among students of

UiTM Malacca City campus, the following questions shall be answered this two research

question:

RQ1: Does financial literacy affects saving behaviour among students of UiTM Malacca

city campus?

RQ2: Does parent socialization affect saving behaviour among students of UiTM

Malacca city campus?

RQ3: Does peer influence affects saving behaviour among students of UiTM Malacca

city campus?

RQ4: Does self-control affects saving behaviour among students of UiTM Malacca city

campus?

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1.5 Significant of the study

This research is conducted to identify the factors affecting the saving behaviour of

degree students, with purpose to create financial awareness among them towards

saving. On the grounds of determination of core problems, educators and regulators are

able to develop appropriate programs and design relevant financial courses to help

students in managing personal money and avoid the debt tracks. Furthermore, retail

banks can therefore develop more appropriate marketing strategies to tap and penetrate

young savers in Malaysia (Lim, Sia, &Gan, 2011).

Additionally, as university students is the group of concern and there is lack of

researchers’ attention on the saving behavior of university students, this study can be an

inspiration for other researchers to continuously exploring on this topic. Last but not

least, it also help the parents to define what the factors that affecting their children

saving behaviour, thus they can effectively monitor their children and ensure them on the

right track of money management.

1.6 Scope of study

This research was conducted to study on factors that influence saving behaviour among

student UiTM Malacca City campus. However, this study will concern on 200

respondents of student UiTM Malacca City campus.

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1.7 Limitation of study

This study was limited in several ways:

1.7.1 Time constraint

Due to other responsibilities, the time given is limited to complete the research a

significant and reliable outcome. The time is needed on finding the correct and

suitable topic.

1.7.2 Cost

As a student, we have limited sources of budget as to complete this research.

We need to allocate our spending on the internet fee, printing the needed

material and transportation cost.

1.7.3 Journal availability

Some of the published journal is not published in complete report. Some journal

are required us to sign up or register and some are required money to purchase

the journal published.

1.7.4 Sample size and geographical constraint

This study only confined to 158 of students UiTM Malacca City campus to

represent a population of all students UiTM Malacca City campus. Thus, the

sample size has met the minimum criteria as proposed by Saunders et al. (2009)

and Cattell (1978).

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 CHAPTER 2: LITERATURE REVIEW

2.0 Introduction

Literature review is an evaluation of significant research materials (articles, books, and

any publications) published in the particular subject. In essence, it is review of body of

knowledge making up a specific subject area. LR includes important information and

concepts from published sources (books, reports and studies) group them into themes

and relate them to the subject of interest. According to Oxford Dictionary, retirement

meaning an act of retiring, or the state of being retired, withdrawal, seclusion, asthe

retirement of an officer, the portion of the one’s life after retiring from one’s career. This

chapter explains the theory for the research and discover how each independent

variable affects the dependent variable by reviewing past literatures related to the topic.

This chapter also includes a proposed conceptual framework developed for the research

and hypotheses to be tested.

2.1 Review of the Literature

2.1.1 Saving Behaviour (Dependent Variable)

Saving in a simple definition is ‘the excess of income over all expenditure’, where

the expenditures are also mentioned as consumption, which is life contributions

and insurance (if any), and the saving behaviour is the money keeping activity

after they use it for their own wealth (Denton, Fretz, & Spencer, 2011). There are

many aspects that related to the saving behaviour. Research about students’

saving behaviour in Malaysia that has been done by Salikin, et al. (2012)

mentioned about the problems of doing saving in university life, such as the

10
uncertain about where the money spent, or even about taking money from

parents or others without permission for the spending that driven by their desires

than their economic needs. From previous research, students have some

reasons of doing saving, such as to achieve goal, do saving until the end of the

semester (most are for vacation), and do saving for paying down debts.

2.1.2 Financial literacy (1st Independent Variable)

Financial literacy can be defined as “one’s understanding and knowledge of

financial concepts” (Fox, Bartholmae & Lee, 2005, p.195).thus, financial literacy

can also be defined as “knowledge and skills related to money management and

can include the ability to balance a checkbook, manage a credit card, prepare a

budget, take out a loan, and buy insurance” (Beverly &Burkhalter, 2005, p. 121).

According to Garman &Forgue (2006) pointed out that financial knowledge is

knowledge of facts, concepts, principles, and technological tools that is

fundamental to being smart about money.

Research studying financial knowledge among college students indicate that

students are burdened by the lack of knowledge concerning financial issues

(Chen & Volpe, 2002; Ibrahim, Harun, & Isa, 2009; Lusardi, Mitchell, &Curto,

2010; Mandell, 2009). However, for people lacking financial experience, such as

college students, financial knowledge has been identified as an important factor

to improve financial behavior and for promoting personal financial well-being.

Liebermann and Flint-Goor (1996) suggested that prior knowledge of an issue is

one of the most important factors influencing information processing.

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Evidence regarding the relationship between financial knowledge and financial

behavior has been mixed; however, results vary depending on how financial

knowledge has been measured, what behaviors have been studied, and what

populations have been analyzed (Mandell, 2004; Peng, Bartholomae, Fox,

&Cravener, 2007). Penget al. (2007) noted that both high school and college

students that completed a personal finance course displayed savings rates

following a personal finance course.

On the basis of their research, Chenand Volpe (1998) argues that a person’s

level of financial knowledge tends to influence their opinions and affect their

financial decisions.Their study was among the first to establish a link, albeit a

tenuous one, between knowledge and behavior among college students.

Individuals with higher levels of financial knowledge were more likely to make

good financial decisions in a hypothetical situation (Chen & Volpe, 1998).

2.1.3 Parental socialization (2nd Independent Variable)

Socialization is the process by which individuals acquire the knowledge, skills,

and value dispositions that enable them to participate as more or less effective

members of groups and society (Brim, 1966; McNeal, 1987; Moschis, 1981).

Social influence involves the exercise of social power by a person or group to

change the attitude or behavior of others in a particular direction (Franzoi, 2006).

According to Lea et al., (1987) studied that many societies belief saving money

as thrift, a virtue which is highly value and is important to the economic growth of

a nation.

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The intrinsic value of saving money was spread through religious teaching,

through education of children and various popular attempts to enlighten people

about the importance of being frugal (within limits). Webley and Nyhus (2006), in

their study on the effect of parental influence to children’s saving, also found out

that socialization of the importance of saving during childhood do influence the

children economic behavior during adulthood. Moschis (1987) and McNeal

(1964) indicate that parents appear to play an important role in the consumer

socialization of their offspring about relevant consumer aspects.

2.1.4 Peer influence (3rd Independent Variable)

John (1999) investigate that peers can be an additional source of financial

socialization after parents that become a primary roles and direct source of

financial practices and followed by the mass media and advertising that provide

information about consumption and the value of material goods. Peer like friend

who have good saving behaviour may influence students saving behaviour and

give motivation to them to make saving activity while peer whose have negative

saving behaviour may also influence their peer like students to having a bad

saving behaviour activity like buying something that unnecessary thing such

phone and others.

Thus, According to Duflo and Saez (2001) studied that peer effects play an

important role in retirement saving decisions. Peer is person who important that

can influence others or their partner after parents. So that, peer is one of the

important factor that contribute saving behaviour among students of UiTM

Malacca City campus where peer is person whose after parents that close to

them. In addition, peer who have behaviour like saving is a good behavior that

students may followed.

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2.1.5 Self-Control (4th Independent Variable)

Saving requires one to refrain from spending so that money can be kept aside for

future use (Lunt and Livingstone, 1991). However, it is argued that humans are

impatient in nature (Carroll, 1997; O’Donoghue and Rabin, 2000). They tend to

put higher value on the gratification derived from immediate consumption rather

than delayed consumption. In order to save money, one must be able to exercise

self-control in delaying gratification and resisting the temptation to spend (Thaler,

1994; Rabinovich and Webley, 2007).earliest studies tend to associate

personality to self-control (Nyhus and Webley, 2001). It is assumed that five-

factor personality dimensions such as extraversion, conscientiousness, and

neuroticism do affect saving. Attitude is an individual’s positive or negative beliefs

about performing a specific behaviour (Ajzen, 1991).

Attitude is formed through one’s beliefs about the consequences of performing

the particular behaviour and one’s evaluation of those possible consequences.

Positive attitude will thus, create the intention to perform an action (Maio and

Haddock, 2009). However, attitude is not constant all the time. Perhaps,

influences such as social persuasion (Prislin and Wood, 2005; Webley and

Nyhus, 2006; Wood, 2000), perception of self-behavior (Bem, 1972) and the

motives or values that an individual holds (Wyer and Albarracin, 2005) will

change an individual’s attitude from time to time. The assessment of attitude

towards saving is not one dimensional.

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 2.2 Summary of Literature Review

Table 2.1: Summary of Literature Review

Variables Description Author

Financial Pointed out that financial knowledge is knowledge of facts, Garman & Forgue (2006)

Literacy concepts, principles, and technological tools that is fundamental

to being smart about money.

Parent The effect of parental influence to children’s saving, also found Webley & Nyhus (2006)

Socialization out that socialization of the importance of saving during

childhood do influence the children economic behaviour during

adulthood.

Peer Peers can be an additional source of financial socialization after John (1999)

Influence parents that become a primary roles and direct source of

financial practices and followed by the mass media and

advertising that provide information about consumption and the

value of material goods.

Self-control Influences such as social persuasion, perception of self- prislin & wood(2005),

behaviour and the motives or values that an individual holds will webley & nyhus(2006),

change an individual’s attitude from time to time wood(2000), bem(1972),

wyer & albarracin(2005)

Saving The problems of doing saving in university life, such as the Salikin, et al. (2012)

Behaviour uncertain about where the money spent, or even about taking

money from parents or others without permission for the

spending that driven by their desires than their economic needs.

15
2.3 Development of Research Framework

2.3.1 Review of Relevant Theoretical Models

Theory of Planned Behaviour (TPB) is applied in our research as proposed by Icek

Ajzen in 1991. TPB is the extension of the Theory of Reasoned Action which jointly

formulated by Ajzen and Fishbein (Ajzwn & Fishbein, 1980; Fishbein & Ajzen, 1975).

Generally, it seeks to explain why people perform certain actions. According to Ajzen

(1991 p.182), studied that the theory of planned behaviour focus on four factors that

determine behaviour, attitude towards the behaviour, social norm, perceived behavioural

control and intention. Figure 2.3.1.1 is adapted from the framework developed by Lim et

al.,(2011) and serve as the foundation of this study. The framework is formulated to

explain the relationship of the independent variables (financial knowledge, social

influence, attitude toward saving and self-control) and dependent variable (saving

behaviour)

Figure 2.1: Proposed Conceptual Framework

FINANCIAL LITERACY

PARENTAL SOCIALIZATION
SAVING BEHAVIOR

PEER INFLUENCE

SELF-CONTROL
Dependent Variable

Independent Variables

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2.4 Hypotheses of the study

HYPOTHESIS 1

H1: There is a significant relationship between financial literacy and saving behaviour

among students of UiTM Malacca city campus.

H0: There is no significant relationship between financial literacy and saving behaviour

among students of UiTM Malacca city campus.

HYPOTHESIS 2

H1: There is significant relationship between parental socialization and saving behaviour

among students of UiTM Malacca city campus.

H0: There is no significant relationship between parental socialization and saving

behaviour among students of UiTM Malacca city campus.

HYPOTHESIS 3

H1: There is significant relationship between peer influence and saving behaviour

among students of UiTM Malacca city campus.

H0: There is no significant relationship between peer influence and saving behaviour

among students of UiTM Malacca city campus.

HYPOTHESIS 4

H1: There is significant relationship between self-control and saving behaviour among

students of UiTM Malacca city campus.

H0: There is no significant relationship between self-control and saving behaviour

among students of UiTM Malacca city campus.

17
 CHAPTER 3: METHODOLOGY

3.0 Introduction

This chapter aims to highlight the design and methodology used to obtain required data.

It explains thoroughly about the research design, population, sampling design, sample

size, sample elements, sample method, data collection methods, constructs

measurement, data processing and methods of data analysis.

3.1 Research Design

The researcher use descriptive study as a research design where the researcher

distribute questionnaire to the respondents. Quantitative method is employed by the

researchers as the empirical assessments consist of numerical measurement and

analysis. In the perspective of time horizon, the research can be classified as cross-

sectional study where data were collected on 5 months basis from August to December

2014. The researchers has followed a deductive approach by conducting the research

based on existing theories and researches (Saunders, Lewis &Thornhill, 2009) to test

the relationship between student’s saving behaviour and the four factors (variables

(financial literacy, parental socialization, peer influence and self-control).

3.2 Population

The target population is defined as the entire group of people the researcher is

interested in (Easton & McColl, 1997). In this study, the researcher aim to distribute the

questionnaire to all student of UiTM Malacca City Campus.

18
3.3 Sampling design

Sampling design is a process to select an appropriate amount of units from the

population of interest to provide accurate information about the entire population (Hair,

Babin, Money, & Samouel, 2003)

3.3.1 Sample size

In this study, the researcher distributes the questionnaire to 200 respondents and

only managed to get 158 of questionnaire from the respondents.

3.3.2 Sampling Elements

The target respondents are students who enrolled in different qualifications and

courses of study at the UiTM Malacca City Campus which are enrolled business

course and non-business course. Since they are from varies in personality and

views, a more accurate and generalize results can be obtained.

3.3.3 Sample method

Non-probability sampling technique is employed in the research as it ensures

goods estimates of the population characteristics (Malhotra, 2010). The

researchers adopt convenience sampling method to obtain data. This is the

easiest non-probability sampling technique as the sample is selected randomly

until the required sample size has been met (Saunders et al., 2009). Therefore,

the questionnaires will be distributed to the UiTM Malacca City Campus students

haphazardly to the amount equal to the sample size.

19
3.4 Data Collection Methods

According to Burns and Bush (2003), the method of data collection used is

determined by the type of data needed and pre-set research design. The two types

of data are primary data and secondary data. In the research, primary data collected

method is used to obtain information and opinions directly and specifically from the

university in Malaysia (Saunders et al., 2009)

3.4.1 Primary Data

Primary data ensures the most up to date information and realistic view to

answer the hypothesis and research questions (Saunders et al., 2009). In the

research, the primary data is collected via survey questionnaire technique which

required less skill and sensitivity (Jankowicz, 2005). To increase the response

rate, the researchers distribute and collect the self-administered questionnaires

to and from the target respondents after they answered the questionnaires.

3.4.1.1 Questionnaire

In this study, the researcher distributes the questionnaire to 200 respondents

and the researcher only manages to get 158 questionnaires from the

respondents. The respondents need to answer the questions as per provided.

The questionnaire is divided into two section which is section A and section

B. for section A, it describe the demographic profile while for section B it

describe all the factor that contribute saving behaviour among students of

UiTM Malacca City Campus.

20
3.4.2 Secondary Data

Secondary data refer to information gathered from sources that already exist

such as company records, government publications, industry analysis and

website. As for this study, secondary data collection was conducted through the

study of pervious published work that related to this topic. The used secondary

sources on pas studies has enables researcher to increase confidence and

reliability of the study specifically on findings. Secondary data also helps

researcher on identifying a variables and gathering an accurate data that are

necessary on conducting research for purpose of this study. In this study, the

secondary data was mainly being collected from online published articles and

online journals.

3.4.2.1 External sources

The sources that are being used to obtain the information are from online

published articles and online journals.

3.4.2.1.1 Online published articles and Online Journal

Online journals are widely used by the researcher to search for

published academic literatures especially on the variable.

Researcher also used the really help her during structuring the

variables and previous researcher that mostly found from

www.emeralinsight.com

21
3.5 Data analysis

The processed data are further analysed in SPSS version 2.0. The objectives of data

analysis include measuring central of tendency and variability, testing reliability and

the hypotheses developed for the study (Sekaran, 2003). It is important to prevent

error that may invalidate the conclusions.

3.5.1 frequency analysis

Frequencies simply refer to the number of times various subcategories of a

certain phenomenon occur, from which the percentage and the cumulative

percentage of their occurrence can be easily calculated, (Sekaran & Bougie,

2013). For this part, the frequency distribution that is represent is based on

Section A in the questionnaire where it includes demographic profile such as

gender, age, marital status, course of study, monthly allowance received from

parents, and engagement in Part-time job.

3.5.2 Descriptive statistical analysis

Data analysis enables describing and comparing variables numerically which

enhances the statistical analysis and data interpretation (Saunders et al., 2009).

Mean, median and mode are used to measure the central tendency while

standard deviation, variance and skewness are used to measure variability of the

data. Additionally, pie charts are inserted to make the data more understandable

and effectively communicate with the readers in visually appealing way (Hair, et

al., 2003). The descriptive analysis results derived from the previous chapter

shows that majority respondents are female and fall into the age group between

21- 22 years old. Besides, nearly all the respondents are still single and most of

them enrolled in business course. Meanwhile, most of the university students

22
reported that they receive monthly allowance from their parents between RM201

–RM500 and mostly they are not engage in part time.

3.5.3 Reliability Analysis

The reliability of a measure indicates the extent to which it is without bias or error

free and ensures consistent measurement across time and across the various

items in the instrument. In order words, the reliability test measure is established

by testing both consistency and stability where it indicates how well the items

measuring a concept hang together as a set (Sekaran & Bougie, 2013)

3.5.4 Pearson Correlation Analysis

The Pearson Correlation analysis evidently shows that there is a positive

correlation between the independent variables (financial literacy, parental

socialization, and peer influence) and the dependent variable (saving behaviour)

except independent variable (self-control). The findings show that financial

literacy has the strongest relationship with saving behaviour. On the other hand,

self-control has negative relationship with saving behaviour. The findings also

proved that all hypothesis for Financial Literacy, Parental Socialization, and Peer

Influence (independent variables) of this study are accepted as the p-values are

less than 0.05 (Malhorta,2010) except for Self Control (independent variable).

23
3.6 Measurement

Measurement is refers to the assignment of numbers to objects or event

systematically. The four levels of measurement scales are nominal, ordinal, interval,

and ratio. The result of reliability test has proved that all the constructs are able to

yield consistent finding as their Cronbach’s alpha are greater than the threshold of

0.60 (Hair et al., 1998).

3.6.1 Likert Scale

Close-ended questionnaires most which were Likert scale. The researchers will

take great care to ensure that the questions asked would properly structure,

focused, phrased asked in a manner that is to intelligible to respondents, able to

minimize bias and able to provide data that can be statistically analysed. The

Likert scale questions are range from five scales, one to five (1-5) which is:

Table 3.1: Likert-Scale Labelling

Strongly Disagree Disagree Neutral Agree Strongly Agree

1 2 3 4 5

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 3.6.2 Category Scale

The Category scale uses multiple items to elicit a single response as per the

following example. This is also uses the nominal scale. The example of question:

Table 3.2: Category Scale

Gender Male

Female

3.7 Questionnaire Design

Self-administered questionnaire method has been used to obtain data. The study

adapts the questionnaire from various past studies related to this topic and mainly

uses Likert scale measurement for all the variables constructed in the proposed

theoretical framework. The questionnaire has been divided into two sections

whereby section A consists of demographic profiles of the respondents while section

B consists of four independent variables which are financial literacy, parental

socialization, peer influence and self-control and dependent variable which is saving

behaviour.

3.7.1 Demographic variables

Both ordinal and nominal scales are used to measure the demographic profile of

respondents in section A. Nominal scale is suitable for variables that can be

distinguished by a simple naming system (Malhotra, 2010). Thus, gender, marital

status, course of study, and part time engagement are measured in nominal

scale. In contrast, ordinal scale is used to measure the attitude, opinion and

measurement on the object whether it has more or less of a characteristic in the

25
study (Malhotra, 2010). Therefore, ordinal scale is applied for age and allowance

received from parents per month that contain ‘less than’ and ‘greater than’

judgement from respondents (Malhotra, 2010). thus, in the questionnaire, section

A consists of demographic profiles of the respondents such as gender, age,

marital status, course of study, monthly allowance received from parents, and

engagement in Part-time job.

3.7.2 Independent variables

Interval scale measurement is employed to measure the independent variables.

All the independent variables are measured via five-point Likert scale ranging

from strongly disagree (1) to strongly agree (5).

3.7.2.1 Financial literacy

Five questions are designed to obtain the agreement level of respondents on

the extent to which the financial knowledge they possessed. These questions

are mainly adopted from Hira and Loibl (2005) and Cude et al. (2006). A

higher scale indicates respondents possess greater financial literacy and vice

versa.

3.7.2.2 Parental socialization

The researchers have developed five questions adopted from Otto (2009) to

test the relationship between respondents’ saving behaviour and social

influence. A higher scale shows a greater parental socialization to the

respondents’ saving behaviour and vice versa.

26
 3.7.2.3 Peer influence

In measuring the extent of peer influence, the researches establish five

questions adopted from Otto (2009). These questions aid in rating the extent

to which respondents are being influenced by their peers upon their saving

behaviour. Hence, a higher score signifies greater peer influence and vice

versa.

3.7.2.4 Self-control

Five questions adopted from Multistate North Central Research Project 1013

(2007), Otto (2009), and Esenvalde (2011) have been set up to measure the

impulsivity of the respondents. A higher score indicates respondents have

greater impulsivity which results a lower self-control and vice versa.

3.7.3 Dependent variables

Meanwhile, the researchers also employ a five-point Likert scale to measure the

saving behaviour of the respondents. Five questions are adopted from Nga,

Yong, and Sellappan (2010), Delafooz et al. (2011), and Sabrietal. (2010). the

respondents were asked to rate on the statement that describes their saving

behaviour. A higher scale demonstrates the respondents practices effective

saving behaviour and vice versa.

27
 CHAPTER 4: DATA ANALYSIS

4.0 Introduction

This chapter will represent the result or findings and analysis on the study of factors that

contribute saving behaviour among students of UiTM Malacca City campus. The data

was analysed using SPSS 20 software. Total of 200 questionnaires were distributed but

unfortunately only 158 was returned. Based on Hair at el. (2010) a sample of 100 is

sufficiently enough to produce reliable factors.

In addition, this chapter will focus on the finding of the research data that has been

analysed which show the results on frequency analysis, descriptive statistic, and

reliability test and Pearson correlation analysis. The raw data is keyed in, in order to

analyse whether all the data are related between each other. Moreover, the findings will

help to obtain the answer for research question, to achieve the objective of the study and

to know the hypothesis of this study is accepted or not. Under this process the

researcher will come out several table that been gathered from the findings and then the

interpretation is based on the tables.

28
4.1 Frequency analysis

Frequencies simply refer to the number of times various subcategories of a certain

phenomenon occur, from which the percentage and the cumulative percentage of their

occurrence can be easily calculated, (Sekaran & Bougie, 2013). For this part, the

frequency distribution that is represent is based on Section A in the questionnaire where

it includes demographic profile such as gender, age, marital status, course of study,

monthly allowance received from parents, and engagement in Part-time job.

4.2 Respondent Demographic Profile

4.2.1 Gender

Figure 4.1: Percentage of Respondents based on Gender

GENDER

48%
52%
Male
Female

Figure 4.1 shows that majority of the respondents are female (52%) while male (48%)

represents the minority.

29
 4.2.2 Age

Figure 4.2: Percentage of Respondents based on Age

Age

5% 3%

31% 18 years old and below

19 - 20 years old
61% 21 - 22 years old
23 years old and above

Figure 4.2 shows that majority of the respondents fall into the age group of 21 to 22

years old (61%). Followed by the age group of 19 to 20 years old (31%) and 23 years

old and above (5%). Meanwhile, there is only 3% of the respondents fall into the age

group of18 years old and below.

30
 4.2.3 Marital Status

Figure 4.3: Percentage of Respondents based on marital status

Marital status
5%

Single
Married
95%

Figure 4.3 demonstrates that almost all the respondents (95%) are single whereas only

5% of respondents are married.

31
 4.2.4 Course of study

Figure 4.4: Percentage of Respondents based on Course of Study

Course of study

32%

Business
68% Non - Business

According to figure 4.4, the respondents who enrolled in business course (68%) are

more than those who enrolled in non- business course (32%)

32
 4.2.5 Monthly allowance received from parents

Figure 4.5: Percentage of Respondents based on Monthly Allowance Received from

Parents

Monthly allowance received from

parents

3% 6%

29% RM0 - RM200

20%
RM201 - RM500
RM501 - RM800

42% RM801 - RM1000

more than RM1000

Based on the chart above, most of the respondents receive allowance less than RM500

(42%) per month from their parents, followed by allowance received between RM0 –

RM200 (29%) and RM501 – RM800 (20%). Result shows that only small portion of

respondents receive substantial allowance from their parents more than RM1000 (6%)

whereby only 3% of them fall into range of RM801 – RM1000.

33
 4.2.6 Engagement in Part-time job

Figure 4.6: Percentage of Respondents based on Engagement in Part-time Job

Engagement in Part- time job

19%

Yes
No
81%

Figure 4.6 shows that 81% of the respondents did not engage in part-time whereas 19%

reported that they engaged in part-time.

34
4.3 Descriptive Analysis

Table 4.1: Descriptive Statistics

N Minimum Maximum Mean Std.

Deviation

MeanFIN 158 1.00 5.00 3.5000 .71016

MeanPAR 158 1.60 5.00 3.6924 .53923

MeanPEER 158 2.00 4.60 3.2797 .58165

MeanSELF 158 1.00 7.20 3.0342 .76590

MeanSAVING 158 2.20 5.00 3.7025 .61062

Valid N
158
(listwise)

The table 4.1 shows descriptive analysis of financial literacy, parent socialization, peer

influence, and self-control (independent variables) and saving behaviour (dependent

variable).

In descriptive analysis, parent socialization has a highest mean which is 3.6924. It

indicates that parent socialization have a strongest influence towards saving behaviour

among student of UiTM Malacca City campus.

35
Moreover, financial literacy has a second higher which is 3.5000. It indicates that

financial literacy has a strong influence toward saving behaviour among student of UiTM

Malacca City campus.

Thus, peer influence had mean which is 3.2797. It indicates that financial literacy has a

strong influence toward saving behaviour among student of UiTM Malacca City campus.

Lastly self-control had mean which is 3.0342. It indicates that financial literacy has a

strong influence toward saving behaviour among student of UiTM Malacca City campus.

4.4 Reliability Analysis

The reliability of a measure indicates the extent to which it is without bias or error free

and ensures consistent measurement across time and across the various items in the

instrument. In order words, the reliability test measure is established by testing both

consistency and stability where it indicates how well the items measuring a concept

hang together as a set (Sekaran & Bougie, 2013)

Cronbach’s alpha is reliability coefficient and indicates how well the items in a set are

positively correlated to one another. Also it computed in the term of average

intercorrelations among items measuring concept where the closer cronbach’s alpha is

to 1, the higher the internal consistency reliability (Sekaran & Bougie, 2013). Below

stated the thumbs of rules for reliability which taken from. (Zikmund, 2003)

36
 Table 4.2: Internal consistency by Uma Sekaran and Bougie (2013)

RANGE OF INTERNAL
RESULT
CONSISTENCY

Less than 0.60 Poor

In the 0.70 range Acceptable

Over 0.80 Good

Table 4.3: Summary of Reliability Statistics

Construct Cronbach's Alpha Number of Items relationship

Financial Literacy (IV1) .833 5 good

Parental Socialization acceptable

.705 4
(IV2)

Peer Influence (IV3) .709 5 acceptable

Self-control (IV4) .744 4 acceptable

Saving Behaviour (DV) .779 5 acceptable

37
The research instrument was tested for reliability using the Cronbach’s coefficient as

reported in the above table. The Cronbach’s alpha for all dimensions are exceeding the

minimum alpha value of 0.60 (Hair et al., 1998), thus the construct measures are

deemed reliable and all items in the construct measures are retained.

In order to gather the information regarding financial literacy that influence saving

behaviour among students UiTM Malacca City campus, 5 questions are used using

Likert Scale Model. Cronbach’s alpha found in this section is 0.833 which fall into good

range. Therefore, coefficient obtained from this section is reliable and acceptable.

Secondly, to examine the parental socialization may influence saving behaviour among

students UiTM Malacca City campus, 4 questions are used using Likert Scale Model.

Cronbach’s alpha found in this section is 0.705 which fall into acceptable range.

Therefore, coefficient obtained from this section is reliable and acceptable.

Thirdly, to examine the peer influence may influence saving behaviour among students

UiTM Malacca City campus, 5 questions are used using Likert Scale Model. Cronbach’s

alpha found in this section is 0.709 which fall into acceptable range. Therefore,

coefficient obtained from this section is reliable and acceptable.

Fourthly, to examine self-control may influence saving behaviour among students UiTM

Malacca City campus, 4 questions are used using Likert Scale Model. Cronbach’s alpha

found in this section is 0.744 which fall into acceptable range. Therefore, coefficient

obtained from this section is reliable and acceptable.

38
Lastly, to examine the dependent variable, 5 questions are used using Likert Scale

Model. Cronbach’s alpha found in this section is 0.779 which fall into acceptable range.

Therefore, coefficient obtained from this section is reliable and acceptable.

4.5 Pearson Correlation Analysis

Pearson correlation coefficient (r) is a technique for investigating the relationship

between two variables. Also it measures the strength of the association between

dependent variable and independent variable (Sekaran & Bougie, 2013). According to

Burn & Bush (2006), the range Pearson coefficient for positive relationship between +0

and +1 and for negative relationship between -0 and -1

39
 Table 4.4: Summary of Pearson Correlation Analysis

Saving Behaviour (DV)

Pearson Correlation .477**

Financial Literacy (IV1) Sig. (2-tailed) .000

Pearson Correlation .462**

Parental Socialization (IV2) Sig. (2-tailed) .000

Pearson Correlation .237**

Peer Influence (IV3) Sig. (2-tailed) .003

Pearson Correlation .223**

Self-control (IV4) Sig. (2-tailed) .004

Pearson Correlation 1

Saving Behaviour (DV) Sig. (2-tailed)

**. Correlation is significant at the 0.01 level (2-tailed).

*. Correlation is significant at the 0.05 level (2-tailed).

40
According to Table 4.2, Financial Literacy, Parental Socialization, Peer Influence, and

self-control (independent variables) have a positive relationship with saving behaviour

(dependent variable).

Financial literacy has the strongest relationship with saving behaviour (r=0.477) and

have a significant value (p-value=0.000). It show that the Pearson correlation has a

strong positive linear correlation because the value indicates 0.477 near to the 1, where

coefficient correlation are in range 0.5 < r < 1.

Followed by the parental socialization (r=0.462) and have a significant value (p-

value=0.000). It show that the Pearson correlation has a strong positive linear correlation

because the value indicates 0.462 near to the 1, where coefficient correlation are in

range 0.5 < r < 1.

Then follow peer influence (r=0.237) and have a significant value (p-value=0.003). It show that
the Pearson correlation has a strong positive linear correlation because the value indicates
0.237 near to the 1, where coefficient correlation are in range 0.5 < r < 1.

Self-control (r=0.223) and have a significant value (p-value=0.004). It show that the

Pearson correlation has a strong positive linear correlation because the value indicates

0.223 near to the 1, where coefficient correlation are in range 0.5 < r < 1.

On the other hand, all hypothesis for Financial Literacy, Parental Socialization, and Peer

Influence (independent variables) of this study are accepted as the p-values are less

than 0.05 (Malhorta,2010)

41
 CHAPTER 5: CONCLUSION AND RECOMMENDATION

5.0 Introduction

This chapter specifically discussed the conclusions of the study after the findings have

been analysed. Conclusions will highlight the achievement of the objectives and

examine the hypothesis of the study. Next, the recommendations will be constructed to

value all the findings in order the results to be meaningful for the future research.

5.1 Conclusion

In this research, it studies on the relationship between all the four factors or independent

variables which are financial literacy, parental socialization, peer influence, and self-

control with saving behaviour. From the finding, all the independent variables which are

financial literacy, parental socialization, peer influence, and self-control have a positive

and significant relationship with saving behaviour.

Moreover, in descriptive analysis, parent socialization has a highest mean which is

3.6924. It indicates that parent socialization have a strongest influence towards saving

behaviour among student of UiTM Malacca City campus. Thus, Financial literacy has the

strongest relationship with saving behaviour (r=0.477) and have a significant value (p-

value=0.000). It show that the Pearson correlation has a strong positive linear correlation

because the value indicates 0.477 near to the 1, where coefficient correlation are in

range 0.5 < r < 1.

42
5.2 Recommendations

This study has suggested several directions for other researchers in their future

research.

5.2.1 Embrace a larger sample size and cover broader area

According to the law of large numbers, larger sample size is more likely to

be representative and the sample mean is more likely to equal the

population mean (Saunders et al,. 2009). Therefore, future research are

recommended to draw a larger sample size to generate a more accurate

and representative manners (Lim et al., 2011). Meanwhile, the samples

should be drawn from multiple geographic locations in Malaysia including

East Malaysia, possibly from other countries in the Asia-pacific region

given that the students’ perceptions and attitudes towards savings are

likely to vary across countries or cultures throughout the world.

5.2.2 Conduct alternative data collection methods

To avoid desirability bias arise in self-report measure, future research

may find it helpful to verify participants’ perception by using additional

measure (Erskine et al,. 2005). Rather than using the self-administered

questionnaire to collect data solely, researchers are suggested to use

alternative data collection method such as field observations.

43
5.2.3 Institution should stress on financial literacy towards students

Research studying financial knowledge among college students indicate that

students are burdened by the lack of knowledge concerning financial issues

(Chen & Volpe, 2002; Ibrahim, Harun, & Isa, 2009; Lusardi, Mitchell, &Curto,

2010; Mandell, 2009). However, for people lacking financial experience, such as

college students, financial knowledge has been identified as an important factor

to improve financial behaviour and for promoting personal financial well-being.

So that, institutions like university should stress on subject that related to

financial literacy to give a awareness about the saving behaviour towards

students

44
 BIBLIOGRAPHY

Chong S.C, Lim C.S, & Wong H.C (2014). Financial satisfaction, resource transfers and

bequest motives among malaysia’s urban older adults. Australian Journal of

Basic and Applied Science, 8(8), 15-33

Cliff A.R & Deanna L.S.(2009). Effect of personal financial knowledge on college

students’ credit card behaviour. Assistant professor, Department of

Consumer Science, University of Alabama ,205, 348-1867

Danny Firmansyah (2014). The influence of family backgrounds toward student’s saving

behavior: A survey of college students in jabodetabek. International Journal of

Scientific and Research Publications, 4, 1-6

Danes S.M. (1994). Parental perceptions of children’s financial socialization.

Flores C. (2014). First generation college student financial literacy: impact of self-

efficacy and behaviour. Washingon state university.

Joakim T & Shiyu Y.(2011). Student saving, does it exist? A study of students’ saving

behaviour, attitude towards saving and motivation to save.

Karlson K.(2013). Does the life-cycle theory really matter? Saving and spending habits

of college students.

45
Leila Falahati & Laily H.Paim (2012). Gender differences in saving behaviour

determinants among university students. Journal of Basic and Applied

Scientific Research, 2(6), 5848-5854

Leila Falahati, Laily Paim, Maimunah Ismail, sharifah Azizah Haron & Jariah Masud

(2011). Assessment of university students’ financial management skills and

educational needs. African Journal of Business Management, 5(15), 6085-

6091

Leila Falahati & Laily Hj. Paim (2011). Gender differences in financial well-being among

college students. Australian journal of basic and applied sciences, 5(9),

1765-1776

Leila falahati, Laily Paim, Maimunah Ismail, & Sharifah Azizah Haron(2011). Factors

predict financial problem among college students. International conference on

sociality and economics development, 10

Lim, C.S., Sia, B.K., & Gan, G.J. (2011). The analysis of psychological factors affecting

savers in Malaysia. Middle Easter Finance and Economic, 12, 77-85

Louw J.J (2009). Financial literacy competencies of third-year university students.

Masud Jariah, A.R. Husniyah, P.Laily, Sonya B.(2004). Financial behaviour and

problems among university students: need for financial education.

46
Norashikin Salikin, Norailis Ab Wahab, Rosnia Masruki, Nurazallia Zakaria, & Siti

Nurulhuda Nordin( n.d). The influence of parents’ background on students’

saving.

Shahryar Sorooshian & Tan, S.T (2014). Spending behaviour of a case of asian

university students. Asian Social Science, 10(2), 64-69

Stollak M., Vandenberg A., Steiner K., & Richards J. (n.d). Student budgeting and

spending behaviours. Journal of Behavioural studies in business.

47
 APPENDICES

BACHELOR OF BUSINESS ADMINISTRATION (HONS) FINANCE

RESEARCH TOPIC:

A STUDY ON FACTORS THAT CONTRIBUTE SAVING BEHAVIOR AMONG

STUDENTS OF UITM MALACCA CITY CAMPUS

Survey Questionnaire

Dear valued respondent,

I am a final year undergraduate students of Bachelor of Business Administration (Hons)

Finance, from Universiti Teknologi Mara (UiTM) conducting a research on factors that

contribute saving behavior among students of UiTM Malacca City Campus. Your

response is very important for this study and will keep strictly confidential.

Thank you for your participation.

Instructions:

1) There are TWO (2) sections in this questionnaire. Please answer ALL questions

in ALL sections.

2) Completion of this form will take you approximately 10 to 15 minutes.

48
 3) Please feel free to share your comment in the space provided. The contents of

this questionnaire will be kept strictly confidential.

Section A: Demographic Profile

Please indicate (/) in the appropriate information about yourself. Each question should

only have ONE answer. All responses are strictly confidential.

1. Gender:

Male

Female

2. Age:

18 and below

19-20

21-22

23 and above

3. Marital status:

Single

Married

4. Course of study:

Business

Non Business

49
5. How much allowance do you get from your parents per month?

RM0 ≤ RM200

RM201 ≤ RM500

RM501 ≤ RM800

RM801 ≤ RM1000

More than RM1000

6. Do you engage in part-time?

Yes

No

50
 SECTION B: FACTORS THAT CONTRIBUTE SAVING BEHAVIOR AMONG

STUDENTS OF UITM MALACCA CITY CAMPUS.

Based on your opinion, please circle the most appropriate response with the scale given

below.

1) SD = Strongly Disagree

2) D = Disagree

3) N = Neutral

4) A = Agree

5) SA = Strongly Agree

Factors SD D N A SA

Financial literacy

1. I have better understanding of how to invest my money 1 2 3 4 5

2. I have better understanding of financial instruments (eg: 1 2 3 4 5

bonds, stock, T-bill, future contract, option and etc)

3. I have the ability to prepare my own monthly budget 1 2 3 4 5

4. I have the ability to maintain financial records for my 1 2 3 4 5

income and expenditure

5. I have no difficulty in managing my money 1 2 3 4 5

51
Factors SD D N A SA

Parental Socialization

1. My parents are good example for me when it comes to 1 2 3 4 5

money management

2. I always talk about money management with my parents 1 2 3 4 5

3. I save money because I don’t think my parents should pay 1 2 3 4 5

for things I don’t really need but like

4. Saving is something that I do regularly because my parents 1 2 3 4 5

wanted me to save when I was little

5. I appreciate it when my parents give me advice about what 1 2 3 4 5

to do with my money

Peer influence

1. As far as I know, some of my friends regularly do save with 1 2 3 4 5

a saving account.

2. I always discuss about money management issue (saving) 1 2 3 4 5

with my friends.

3. I always compare the amount of saving and spending with 1 2 3 4 5

my friends.

52
 4. I always spend my leisure time with my friends 1 2 3 4 5

5. I always involve in money spending activities with friends 1 2 3 4 5

Factors SD D N A SA

Self-control

1. I don’t save, because I think its too hard 1 2 3 4 5

2. I enjoy spending money on things that aren’t practical 1 2 3 4 5

3. When I get money, I always spend it immediately (within 1 1 2 3 4 5

or 2 days)

4. I always failed to control myself from spending money 1 2 3 4 5

5. I am more concerned with what happens to me in short run 1 2 3 4 5

than in the long run

Saving Behavior

1. I put my money aside on a regular basis for the future 1 2 3 4 5

2. In order to save, I often compare prices before I make a 1 2 3 4 5

53
 purchase

3. In order to save, I often consider whether the real necessity 1 2 3 4 5

before I make a purchase

4. I save to achieve certain goal 1 2 3 4 5

5. I save until my end of my semester 1 2 3 4 5

54
Frequency analysis

GENDER

Statistics

Gender

Valid 158
N
Missing 0

Gender

Frequenc Percent Valid Cumulative

y Percent Percent

Male 76 48.1 48.1 48.1

Valid Female 82 51.9 51.9 100.0

Total 158 100.0 100.0

AGE

Statistics

Age

Valid 158
N
Missing 0

55
Age

Frequenc Percent Valid Cumulative

y Percent Percent

18 and
4 2.5 2.5 2.5
below

19 - 20 49 31.0 31.0 33.5

Valid 21 - 22 97 61.4 61.4 94.9

23 and
8 5.1 5.1 100.0
above

Total 158 100.0 100.0

MARITAL STATUS

Statistics

Marital Status

Valid 158
N
Missing 0

Marital Status

Frequenc Percent Valid Cumulative

y Percent Percent

Single 150 94.9 94.9 94.9

Valid Married 8 5.1 5.1 100.0

Total 158 100.0 100.0

56
COURSE

Statistics

Course

Valid 158
N
Missing 0

Course

Frequenc Percent Valid Cumulative

y Percent Percent

Business 107 67.7 67.7 67.7

Non
Valid 51 32.3 32.3 100.0
Business

Total 158 100.0 100.0

ALLOWANCE

Statistics

Allowance

Valid 158
N
Missing 0

57
Allowance

Frequenc Percent Valid Cumulative

y Percent Percent

RM0 < RM200 46 29.1 29.1 29.1

RM201 <
67 42.4 42.4 71.5
RM500

RM501 <
31 19.6 19.6 91.1
Valid RM800

RM801 <
5 3.2 3.2 94.3
RM1000

< RM1000 9 5.7 5.7 100.0

Total 158 100.0 100.0

PART

Statistics

Part

Valid 158
N
Missing 0

58
Part

Frequenc Percent Valid Cumulative

y Percent Percent

Yes 30 19.0 19.0 19.0

Valid No 128 81.0 81.0 100.0

Total 158 100.0 100.0

Reliability Statistics

FINANCIAL

Reliability Statistics

Cronbach's N of Items

Alpha

.833 5

PARENTAL

Reliability Statistics

Cronbach's N of Items

Alpha

.705 4

59
PEER

Reliability Statistics

Cronbach's N of Items

Alpha

.709 5

SELF CONTROL

Reliability Statistics

Cronbach's N of Items

Alpha

.744 4

SAVING BEHAVIOR (DV)

Reliability Statistics

Cronbach's N of Items

Alpha

.779 5

60
 Pearson Correlation Analysis

Correlations

MeanFI MeanPA MeanPEE MeanSEL MeanSAVIN

N R R F G

Pearson
1 .492** .229** -.004 .477**
Correlation
MeanFIN
Sig. (2-tailed) .000 .004 .956 .000

N 158 158 158 158 158

Pearson
.492** 1 .376** -.095 .462**
Correlation
MeanPAR
Sig. (2-tailed) .000 .000 .237 .000

N 158 158 158 158 158

Pearson
.229** .376** 1 .184* .237**
Correlation
MeanPEER
Sig. (2-tailed) .004 .000 .020 .003

N 158 158 158 158 158

Pearson
-.004 -.095 .184* 1 .223**
Correlation
MeanSELF
Sig. (2-tailed) .956 .237 .020 .017

N 158 158 158 158 158

Pearson
.477** .462** .237** .223*** 1
Correlation
MeanSAVING
Sig. (2-tailed) .000 .000 .003 .017

N 158 158 158 158 158

61
Descriptive Analysis

Descriptive Statistics

N Minimum Maximu Mean Std.

m Deviation

MeanFIN 158 1.00 5.00 3.5000 .71016

MeanPAR 158 1.60 5.00 3.6924 .53923

MeanPEER 158 2.00 4.60 3.2797 .58165

MeanSELF 158 1.00 7.20 3.0342 .76590

MeanSAVING 158 2.20 5.00 3.7025 .61062

Valid N
158
(listwise)

62