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Gender Differences in Financial Literacy and Financial Behaviour Among Young Adults: The Role of Parents and Information Seeking

Author

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  • Saeed Pahlevan Sharif

    (Taylor’s University Lakeside Campus)

  • Ashraf Sadat Ahadzadeh

    (Xiamen University Malaysia Campus)

  • Jason James Turner

    (Asia Pacific University of Technology & Innovation, Technology Park Malaysia)

Abstract

This research aimed to examine the impact of gender on the mechanism that translates family financial socialisation to financial literacy and behaviour among Malaysian young adults and also to examine the role of financial information-seeking behaviour and its antecedents in this mechanism. A cross-sectional survey was undertaken. A total of 572 young Malaysian adults from four major universities participated in the study. The results revealed that both parents’ teaching and behaviour directly inform young adults’ financial behaviour. However, among females, parents’ teaching through planned behaviour drove their financial information-seeking behaviour, which in turn informed their financial literacy. Contrary to popular notions, financial literacy had no influence on financial behaviour. Moreover, a negative relationship between parental teaching and financial literacy among males was found.

Suggested Citation

  • Saeed Pahlevan Sharif & Ashraf Sadat Ahadzadeh & Jason James Turner, 2020. "Gender Differences in Financial Literacy and Financial Behaviour Among Young Adults: The Role of Parents and Information Seeking," Journal of Family and Economic Issues, Springer, vol. 41(4), pages 672-690, December.
    • Handle: RePEc:kap:jfamec:v:41:y:2020:i:4:d:10.1007_s10834-020-09674-z
    DOI: 10.1007/s10834-020-09674-z
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    Cited by:

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    2. Tani, Massimiliano & Wen, Xin & Cheng, Zhiming, 2023. "Daughters, Savings and Household Finances," IZA Discussion Papers 16440, Institute of Labor Economics (IZA).
    3. Elisabeth Sinnewe & Gavin Nicholson, 2023. "Healthy financial habits in young adults: An exploratory study of the relationship between subjective financial literacy, engagement with finances, and financial decision‐making," Journal of Consumer Affairs, Wiley Blackwell, vol. 57(1), pages 564-592, January.
    4. Long She & Ratneswary Rasiah & Marc Arul Weissmann & Harpaljit Kaur, 2024. "Using the Theory of Planned Behaviour to Explore Predictors of Financial Behaviour Among Working Adults in Malaysia," FIIB Business Review, , vol. 13(1), pages 118-135, January.
    5. Zewei Liu & Ji-Kang Chen, 2024. "Financial Resilience and Adolescent Development: Exploring a Construct of Family Socioeconomic Determinants and Its Associated Psychological and School Outcomes," Child Indicators Research, Springer;The International Society of Child Indicators (ISCI), vol. 17(5), pages 2283-2318, October.
    6. Rayenda Khresna Brahmana & Maria Kontesa & Josephine Tan-Hwang Yau, 2024. "Does information seeking moderate the relationship between financial loan inclusion and Fintech P2P lending?," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(1), pages 171-185, March.
    7. Azra Zaimovic & Anes Torlakovic & Almira Arnaut-Berilo & Tarik Zaimovic & Lejla Dedovic & Minela Nuhic Meskovic, 2023. "Mapping Financial Literacy: A Systematic Literature Review of Determinants and Recent Trends," Sustainability, MDPI, vol. 15(12), pages 1-30, June.
    8. Tatiyaporn SIRISAKDAKUL & Butsakorn KHORNJAMNONG, 2020. "Financial Literacy and Retirement Planning of Working-Age People," GATR Journals jfbr177, Global Academy of Training and Research (GATR) Enterprise.

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