An Empirical Analysis of Saving Behavior among Malaysian Employees

Abstract

People were found to be more conscious on spending their money.Therefore, it is important to identify the savings behavior as people are more to spend rather than to save.Overspending can lead to various implications, such as bankruptcy because of the inability to settle up their unpaid payments to creditors (Zhu, 2011).However, there is a lack of research on the determinants of factors affecting the saving behavior.Thus, the aim of the study is to identify the factors affecting the saving behavior.Three determinants are identified which are as follows: services quality, religious belief and knowledge.Questionnaires were distributed to the 150 respondents.The sampling procedure adopted was purposive sampling.The data obtained were analyzed using SPSS which involves scale reliability, descriptive, and regression analysis.Semi-structured interviews were conducted to crosscheck the quantitative findings.The result indicates that services quality, religious belief and knowledge influence saving behavior.This study makes a contribution to the literature on saving behavior.The findings achieved in this study will be of interest for practitioners and academics concerned with money management skills in order to become financially independent for long term.

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