Exploring the Determinants of Financial Well-Being among Rural Households

Suhailah Ibrahim (), Suzana Ab Rahman, Hamidah Norman, Noor Azlin Abu Kasim and Intan Maizura Abdul Rashid
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Suhailah Ibrahim: Islamic University Melaka
Suzana Ab Rahman: Islamic University Melaka
Hamidah Norman: Islamic University Melaka
Noor Azlin Abu Kasim: Islamic University Melaka
Intan Maizura Abdul Rashid: Universiti Teknologi MARA

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Abstract: Household financial well-being plays an important role in the B40 community. This study aims to explore the determinants of financial well-being. The literature proves that the level of financial skills and access to financial knowledge significantly influence household financial well-being among the B40 community. In addition, the influence of external factors such as access to financial services, social support, or financial development programs also affects household financial management practices B40 community. This study emphasizes the elements of digital financial literacy, financial socialization, and savings and investment toward the financial well-being of rural households. This kind of concept paper can contribute to knowledge, especially in guiding students, academics, and policymakers, to learn about the concepts of rural financial well-being that exist.

Date: 2024-12-25
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Published in Information Management and Business Review, 2024, 16 (4(I)), pp.27-33. ⟨10.22610/imbr.v16i4(I).4253⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-04871304

DOI: 10.22610/imbr.v16i4(I).4253

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