Modelling factors associated with saving behaviour: A case study of undergraduate students at UiTM Kota Bharu
DOI:
https://doi.org/10.55573/JISED.118777Keywords:
saving behaviour, financial literacy, financial inclusion, financial behaviour, materialism, university studentsAbstract
Saving is an essential component of financial well-being, particularly for university students who are beginning to manage money independently. This study examined the relationships between financial literacy, financial inclusion, financial behaviour, materialism, and saving behaviour among undergraduate students at Universiti Teknologi MARA Cawangan Kelantan, Kota Bharu Campus. A cross-sectional survey was conducted using proportionate stratified random sampling. The questionnaire used five-point Likert scales, and all constructs demonstrated acceptable to excellent internal consistency (Cronbach’s alpha = 0.714-0.899). Pearson correlation, multiple linear regression, and an independent-samples t-test were applied. Financial literacy (r = 0.655), financial inclusion (r = 0.712), and financial behaviour (r = 0.581) were positively correlated with saving behaviour (all p < 0.001), whereas materialism was not significantly correlated at the bivariate level (r = -0.036, p = 0.632). The regression model was significant, F = 61.622, p < 0.001, and explained 58.9% of the variance in saving behaviour (adjusted R² = 0.579). All four predictors were significant in the adjusted model, with financial inclusion emerging as the strongest predictor. Saving behaviour did not differ significantly by gender, t = −0.264, p = 0.792. The findings support integrated interventions combining financial education, accessible financial services, practical money-management habits, and attention to materialistic consumption tendencies.
Downloads
References
Aminuddin, A., Ismail, S., Jamaludin, N., & Nawi, N. M. (2022). What drives saving behaviour among undergraduate students of Universiti Malaysia Terengganu? Universiti Malaysia Terengganu Journal of Undergraduate Research, 4(2), 81–88.
Becker, G. S. (1964). Human capital: A theoretical and empirical analysis, with special reference to education. New York, NY: Columbia University Press.
Dawa, N. A., Amran, I. A., & Aziz, A. (2025). Factors affecting saving behaviour among students of diploma in Islamic finance. In Proceedings of the International TVET Academic & Research Symposium 4.0.
Faramida, H., Sabandi, M., & Octoria, D. (2023). The influence of financial literacy, M-banking services on saving behavior moderated by gender and self-control. Economic Education Analysis Journal, 12(3), 199–211. doi:10.15294/eeaj.v12i3.74210
Febrianty, F., Yuliansyah, Y., Hamzah, R. S., & Annisa, M. L. (2024). Gender issues in digital financial literacy and financial behavior among millennials. Jurnal Economia, 20(1), 79–94. doi:10.21831/economia.v20i1.56529
George, D., & Mallery, P. (2010). SPSS for Windows step by step: A simple guide and reference, 17.0 update (10th ed.). Boston, MA: Allyn & Bacon.
Irfan, I., Nasyalia, C., Muhyarsyah, M., Hani, S., & Sari, M. (2023). The impact of financial literacy and financial inclusion towards the saving behavior of students. MIX: Jurnal Ilmiah Manajemen, 13(2), 439–451.
Lusardi, A., & Mitchell, O. S. (2014). The economic importance of financial literacy: Theory and evidence. Journal of Economic Literature, 52(1), 5–44. doi:10.1257/jel.52.1.5
Mad, S., Omar, N. A., Ahmad, M., & Meor Zawawi, M. (2024). The impact of financial literacy on saving habits among Malaysian youth: A gender-based analysis. International Journal of Research and Innovation in Social Science, 8(8), 4381–4392. doi:10.47772/IJRISS.2024.8080335
Mahdzan, N. S., & Tabiani, S. (2013). The impact of financial literacy on individual saving: An exploratory study in the Malaysian context. Transformations in Business & Economics, 12(1), 41–55.
Mohamad, A., & Jamaludin, H. (2026). Financial literacy and saving behaviour among Malaysian university students. The Quarterly Review of Economics and Finance, 109, Article 102205. doi:10.1016/j.qref.2026.102205
Mohd Isa, S., & Kim, J. (2024). Examining factors of savings behaviour among Malaysian youth. Journal of Governance and Integrity, 7(1), 650–667. doi:10.15282/jgi.7.1.2024.9733
Morgan, P. J., & Long, T. Q. (2020). Financial literacy, financial inclusion, and savings behavior in Laos. Journal of Asian Economics, 68, Article 101197. doi:10.1016/j.asieco.2020.101197
Nababan, L., & Lee, J. K. (2025). Do young students save well? Evidence from an Indonesian college. Journal of Financial Therapy, 16(2). doi:10.4148/1944-9771.1433
Nurrafi, D. A., Purwidianti, W., Tubastuvi, N., & Alfalisyado. (2024). Effect of financial factors on saving decision of Z generation. Asian Journal of Economics, Business and Accounting, 24(8), 489–501. doi:10.9734/ajeba/2024/v24i81470
Phimnoi, K., & Kijkasiwat, P. (2024). The influence of financial literacy and materialism on saving behavior: A case study of Indonesia Banking School students. Global Business and Management Research, 16(3s), 225–239.
Richins, M. L., & Dawson, S. (1992). A consumer values orientation for materialism and its measurement: Scale development and validation. Journal of Consumer Research, 19(3), 303–316. doi:10.1086/209304
Suwatno, S., Waspada, I., & Mulyani, H. (2021). Forming students’ saving behaviour through financial literacy, parental financial education, and self-control. Jurnal Pendidikan Akuntansi & Keuangan, 9(2), 127–136.
