INFL UENCE OF LIFE EVENTS ON THE FINANCIAL SATISFACTION OF INDIVIDUALS
Waqas Ali (),
Rehman Javaid (),
Shujahat Ali3 (),
Yasir Akram () and
Ayaz Ul Haq ()
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Waqas Ali: Limkokwing University of Creative Technology, Cyberjaya, Malaysia
Rehman Javaid: Limkokwing University of Creative Technology, Cyberjaya, Malaysia,
Shujahat Ali3: Mirpur University of Science and Technology, Mirpur A.K
Yasir Akram: The Limkokwing University of Creative Technology, Cyberjaya,
Ayaz Ul Haq: University of Central Punjab, Rawalpindi Campus
IBT Journal of Business Studies (JBS), 2019, vol. 15, issue 1, 15-10
The study aims to determine the eff ect of fi nancial knowledge and fi nancial socialization on the fi nancial satisfaction of the individuals when unexpected life events happen and to examine themediating role of the fi nancial stressor and fi nancial behavior between them. The data collected from 243 respondents whohad experienced any unexpected hospitality in the state of Azad Jammu and Kashmir. Grab sampling method utilized for data collection. Confi rmatory factor analysis (CFA) and Structura Equation Modeling (SEM) utilized for data analysis. Results of study reveal that- 1) fi nancial knowledge and fi nancial socialization have positive infl uence on fi nancial satisfaction; 2) fi nancial knowledge has positive eff ect on fi nancial satisfaction with the mediating role of the fi nancial stressor and fi nancial behavior when an unexpected life event happens; and 3) fi nancial socialization has positive eff ect on fi nancial satisfaction with the mediating role of the fi nancial stressor and fi nancial behavior when an unexpected life event happened. This study provides clear insight toward the fi nancial satisfaction of the individuals while confronting the unexpected life events. Practitioners and fi nancial planners use this article for increasing the fi nancial satisfaction of their customers. There is plethora of researches conducted in diff erent perspective except life events of individuals. This study utilized confi rmatory factor analysis, which is necessary when research carried out from a diff erent perspective.
Keywords: : Financial Stressor; Financial Socialization; Financial knowledge; Financial Behavior; Financial Satisfaction (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:aib:ibtjbs:v:15:y:2019:i:1:p:15-10
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