Table 9 Measurement scale

Financial Literacy

(1 = True, 0 = False)

FL1. Balance sheet shows your financial status

FL2. We overspend when using savings to buy daily necessities

FL3. Buying insurance is the best investment

FL4. Life insurance protects policy holder from financial burden

FL5. Owning a credit card will increase one’s purchasing power

FL6. One can spend more than 20% of their monthly income for instalments

FL7. All types of investments are profitable

FL8. We can borrow to invest

FL9. In Malaysia we only have a conventional banking system

FL10. Family needs to save three months income for emergencies

Financial Behaviour

(1 = Strongly disagree to 5 = Strongly agree)

FB1. I set aside some money for retirement

FB2. I have a plan to reach my financial goals

FB3. I set money aside for savings

RB4. I have a weekly or monthly budget that I follow

FB5. I must cut my living expenses. *

FB6. I run into financial troubles because I do not have enough money. *

FB7. I can afford to buy what I want

FB8. I spend more money than I have. *

FB9. I cannot afford to do things I would enjoy doing. *

FB10. I prefer financial security rather than the amount of savings in my account

Financial Stress

(1 = Strongly disagree to 5 = Strongly agree)

FS1. I feel stress about my personal finances in general

FS2. I worry about being able to fulfil monthly financial commitment

FS3. I worry about having enough money to pay for daily expenses

FS4. I feel stress thinking about the total amount of money that I owe

FS5. I feel stress thinking about my credit card debt

FS6. I feel helpless in dealing with the financial problems in my life

Financial Well-Being

(1 = Very unhappy to 5 = Very happy)

FWB1. How can you rate your satisfaction with your personal finances?

FWB2. How do you feel about your current financial situation?

FWB3. How secure do you feel about your retirement plan?

FWB4. How confident are you that you will have a financially comfortable retirement?

FWB5. How confident are you of finding the money to pay for a financial emergency cost?

FWB6. How frequently do you find yourself eagerly waiting for the next payday? *

FWB7. How often you cannot afford financially to enjoy doing things you love with your friends and family? *

FWB8. How often do you worry about being able to meet your monthly living expenses? *