The Antecedents of Financial Behaviour Intention among formal sector workers

Philomina Araba Sam, Professor Siaw Frimpong and Professor Stephen Kendie
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Philomina Araba Sam: School of Business, University of Cape Coast, Ghana
Professor Siaw Frimpong: School of Business, University of Cape Coast, Ghana
Professor Stephen Kendie: School of Business, University of Cape Coast, Ghana

International Journal of Research and Innovation in Social Science, 2021, vol. 05, issue 09, 169-176

Abstract: To improve our understanding of personal finance behaviour of workers, the current study sought to examine the impact of financial knowledge, financial attitude, locus of control, descriptive norm and financial self-efficacy on financial behaviour intention. The research employed the reasoned action approach framework by Fishbein & Ajzen, (2010), with formal sector workers in three districts of Ghana as the population. Questionnaires were used to collect data and analysed using SmartPLS. The results of the study revealed that perceived financial knowledge, financial attitude, descriptive norm and locus of control had a significant positive relationship with financial behaviour intention. The assertion that actual financial knowledge and financial self-efficacy influence financial behaviour was not supported. It is recommended that financial education focuses on developing good financial attitudes and beliefs to enhance behavioural change.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:5:y:2021:i:09:p:169-176

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