THE EFFECT OF SPENDING PATTERNS ON THE FINANCIAL WELLBEING OF MALAYSIAN CONSUMERS ACROSS INCOME LEVELS
List of Authors
  • Muhammad Hasin, ZURAIDAH ZAINOL

Keyword
  • Spending patterns, financial well-being, consumer behaviour, income levels, Malaysia, financial literacy.

Abstract
  • This study aims to examine the influence of various spending patterns on financial well-being and to explore how these effects differ across income levels in Malaysia. A quantitative research design was employed, involving 308 respondents aged 18 and above who completed a self-administered questionnaire. Concurrently, convenience sampling was used and data were analysed using descriptive statistics and multiple regression analysis via Statistical Package for the Social Sciences (SPSS). The findings reveal that prosocial spending was the most frequently reported, while overall financial well-being among respondents was relatively high. In particular, positive associations were observed between financial well-being and experiential, self-expressive, prosocial, and conspicuous spending. In contrast, compulsive and impulsive spending patterns were linked to lower levels of financial well-being. Meanwhile, income-based analysis suggested that low- and middle-income groups were more affected by harmful spending behaviours compared to their high-income counterparts. Overall, this study contributes to the literature on consumer behaviour and financial wellbeing by highlighting the differentiated impact of spending types across income groups. Furthermore, the results offer practical implications for policymakers, educators, and financial institutions in designing targeted financial literacy and intervention programmes to foster sustainable financial well-being, especially among vulnerable income groups.

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