Predicting Saving Intention and Behavior Among University Students Using Partial Least Square Structural Equation Modelling

Abstract

In Malaysia, many university students have different views on saving management based on different factors. Therefore, this study aims to examine the intention and behaviours towards saving among Malaysian students. A cross-sectional design was adopted to collect quantitative data from 307 Malaysian students and universities in Klang Valley. Furthermore, the theory of planned behaviour (TPB) was applied, followed by an extension of TBP by embedding the constructs involved in the behaviour of saving. The results indicated that financial attitude, financial socialisation, financial capability, and self-control have a positive and significant effect on saving intention and behaviour among university students in Malaysia. However, financial education did not have a significant impact on saving intention and behaviour. Notably, the results offer a guideline to policymakers and awareness campaign to increase saving behaviour and financial management. The relevant agencies should focus on improving financial attitude, financial socialization, financial capability, financial education, and self-control towards saving intention and behaviour for their future planning in education and life.