Examining money-management practices among UiTM Machang students

Abstract

Money management is a critical life skill for university students as they transition into financial independence.  This study aims to achieve research objectives to examine the significance of influence between economic, social and psychological factors on money management practices among UiTM Machang students. Due to the impracticality of accessing the entire population, a non-probability sampling method, specifically purposive sampling, was employed. This study uses quantitative research design and 112 data usable for this study. The data analyzed using the PLS-SEM technique. The study revealed that the relationship between economic factors and money management practice is not significant. Although the coefficient is positive, indicating that economic (income or financial resources) do not significantly determine students’ money management practices.  Psychological and social   factors have a significant positive effect on money management Ultimately; the results show that internal behavioural factors have a greater impact on students' money management habits than financial capacity alone. In order to improve students' long-term financial well-being, academic institutions and policymakers are urged to prioritise financial education initiatives that emphasise enhancing self-control, discipline, and financial awareness