Volume 15 Issue 1 2019


Waqas Ali
Limkokwing University of Creative Technology, Cyberjaya, Malaysia.

Rehman Javaid
Limkokwing University of Creative Technology, Cyberjaya, Malaysia.

Shujahat Ali
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.

Abstract This study aims to determine the effect of financial knowledge and financial socialization on the financial satisfaction of individuals when unexpected life events happen and to examine the mediating role of the financial stressor and financial behavior between them. The data collected from 243 respondents who had experienced any unexpected hospitality in the state of Azad Jammu and Kashmir. Grab sampling method utilized for data collection. Confirmatory factor analysis (CFA) and Structural Equation Modeling (SEM) utilized for data analysis. Results of a study reveal that: 1) financial knowledge and financial socialization have a positive influence on financial satisfaction; 2) financial knowledge has a positive effect on financial satisfaction with the mediating role of the financial stressor and financial behavior when an unexpected life event happens, and 3) financial socialization has a positive effect on financial satisfaction with the mediating role of the financial stressor and financial behavior when an unexpected life event happened. This study provides clear insight toward the financial satisfaction of the individuals while confronting unexpected life events. Practitioners and financial planners use this article for increasing the financial satisfaction of their customers. There are a plethora of researches conducted in different perspective except life events of individuals. This study utilized confirmatory factor analysis, which is necessary when research carried out from a different perspective.
Keywords Financial Stressor, Financial Socialization, Financial knowledge, Financial Behavior, Financial Satisfaction
Year 2019
Volume 15
Issue 1
Type Research paper, manuscript, article
Recognized by Higher Education Commission of Pakistan, HEC
Category "Y"
Journal Name IBT Journal of Business Studies
Publisher Name ILMA University
Jel Classification G41, G50
ISSN no (E, Electronic) 2409-6520
ISSN no (P, Print) 2416-8393
Country Pakistan
City Karachi
Institution Type University
Journal Type Open Access
Type of Reiview Double Blind Peer Reviewed
Format PDF
Paper Link
Page 123-137
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