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Infl Uence Of Life Events On The Financial Satisfaction Of Individuals

Author

Listed:
  • Waqas Ali

    (Limkokwing University of Creative Technology, Cyberjaya, Malaysia)

  • Rehman Javaid

    (Limkokwing University of Creative Technology, Cyberjaya, Malaysia,)

  • Shujahat Ali3

    (Mirpur University of Science and Technology, Mirpur A.K)

  • Yasir Akram

    (The Limkokwing University of Creative Technology, Cyberjaya,)

  • Ayaz Ul Haq

    (University of Central Punjab, Rawalpindi Campus)

Abstract

The study aims to determine the eff ect of fi nancial knowledge and fi nancial socialization on the fi nancial satisfaction of the individuals when unexpected life events happen and to examine themediating role of the fi nancial stressor and fi nancial behavior between them.The data collected from 243 respondents whohad experienced any unexpected hospitality in the state of Azad Jammu and Kashmir.Grab sampling method utilized for data collection.Confi rmatory factor analysis CFA and Structura Equation Modeling SEM utilized for data analysis.Results of study reveal that 1 fi nancial knowledge and fi nancial socialization have positive infl uence on fi nancial satisfaction 2 fi nancial knowledge has positive eff ect on fi nancial satisfaction with the mediating role of the fi nancial stressor and fi nancial behavior when an unexpected life event happens and 3 fi nancial socialization has positive eff ect on fi nancial satisfaction with the mediating role of the fi nancial stressor and fi nancial behavior when an unexpected life event happened.This study provides clear insight toward the fi nancial satisfaction of the individuals while confronting the unexpected life events.Practitioners and fi nancial planners use this article for increasing the fi nancial satisfaction of their customers.There is plethora of researches conducted in diff erent perspective except life events of individuals.This study utilized confi rmatory factor analysis, which is necessary when research carried out from a diff erent perspective.

Suggested Citation

  • Waqas Ali & Rehman Javaid & Shujahat Ali3 & Yasir Akram & Ayaz Ul Haq, 2019. "Infl Uence Of Life Events On The Financial Satisfaction Of Individuals," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 15(1), pages 123-137.
    • Handle: RePEc:aib:ibtjbs:v:15:y:2019:i:1:p:123-137
    DOI: https://doi.org/10.46745/ilma.ibtjbs.2019.151.10
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    References listed on IDEAS

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    2. María Navarro, 2023. "Social-Cultural Capital and Domain Satisfaction," Hacienda Pública Española / Review of Public Economics, IEF, vol. 246(3), pages 37-70, September.
    3. Waqas Ali & Shujahat Ali & Shahid Mehmood, 2020. "Effect of Risk Management Practices on Banks Performance Moderating Role of Managerial Expertise as a Competitive Edge," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 16(1), pages 88-100.
    4. Malgorzata Grzywinska-Rapca, 2021. "Economic Welfare and Subjective Assessments of Financial Situation of European Households," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 948-968.

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