Financial literacy among working women: A Study on university staff in Kedah


  • Nur Najihah Ashaari School of Quantitative Science, Universiti Utara Malaysia, Sintok, Kedah, Malaysia
  • Zahayu Md Yusof 2Department of Mathematics and Statistics, School of Quantitative Sciences, Universiti Utara Malaysia, Sintok, Kedah, Malaysia
  • Masnita Misiran Universiti Utara Malaysia, Sintok, Kedah, Malaysia
  • Hasimah Sapiri Universiti Utara Malaysia, Sintok, Kedah, Malaysia



Financial Literacy, Financial Management, Financial risk, Structural Equation Modelling (SEM), Working women


The involvement of women in the employment sector has helped boost the Malaysian economy. Therefore, it is imperative for our economy to consider the fact that where and how women work to spend or invest their funds. In this case, for the proper use of funds, working women need to be financially literate. This study to determine the relationship between the factors towards financial literacy among working women and to investigate the risk of financial literacy among working women. Sample data were gathered using self-administered questionnaire among working women in government university in Kedah and later analyzed using statistical software namely, Statistical Package for Social Science (SPSS) version 25.0 and Analysis of Moment Structure (AMOS) version 25.0. Confirmatory Factor Analysis (CFA) together with Structural Equation Modeling (SEM) approach was used both to access the model fit and identify the significant direct influence financial literacy among working women. As a result, five factors that influence financial management have been highlighted which are financial attitude, financial knowledge, financial education, financial behavior and financial literacy. The result indicates that only financial attitudes significant towards financial literacy among working women as supported by the previous study. However, other factors are also important in assessing the level of financial literacy of an individual because each of these factors plays a role in ensuring an individual's financial management and avoid yourself from financial risk.


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How to Cite

Ashaari, N. N., Md Yusof, Z., Misiran, M., & Sapiri, H. (2020). Financial literacy among working women: A Study on university staff in Kedah. Journal of Science and Mathematics Letters, 8(2), 100–108.