POST-IMPACT OF SPENDING BEHAVIOUR: A PHENOMENOLOGICAL STUDY ON MILLENNIALS IN MALAYSIA

Abstract

This paper aims to explain the post-impact of spending behaviour among Millennials in Malaysia. Particularly, targeted on the emotional impact which rarely been touched by other authors. There are four (4) branches of the impacts: addiction, pleasure, relationship trajectories, and stress. Each of them carries a different definition, impact, and factor upon the participant’s lived experience, which will be discussed further. This paper's root base is Millennials who did not possess or practice money management skills in their daily financial decision making. The qualitative research method that is a phenomenological study is chosen to represent an inclusive description of the participant’s lived experience of the selected phenomenon. Six (6) participants from various backgrounds joined this study through a deep semi-structured interview session with open-ended guide questions. This study's findings cannot be used to generalise the whole of Malaysia as it only analyses a small sample size. Therefore, analysis of additional data from the Millennials spending behaviour and its impact on emotional stability may be necessary for comparison and to reaffirm the results. Further investigation is also needed to isolate the specific elements and significant differences in ratings. This study would be useful for government agencies, policymakers, educational institutions, parents, society, and Millennials themselves to competently manage, observe, plan, and monitor their spending behaviour that directly hits their emotional stability.