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The Antecedents of Financial Behaviour Intention among formal sector workers

Author

Listed:
  • Philomina Araba Sam

    (School of Business, University of Cape Coast, Ghana)

  • Professor Siaw Frimpong

    (School of Business, University of Cape Coast, Ghana)

  • Professor Stephen Kendie

    (School of Business, University of Cape Coast, Ghana)

Abstract

To improve our understanding of personal finance behaviour of workers, the current study sought to examine the impact of financial knowledge, financial attitude, locus of control, descriptive norm and financial self-efficacy on financial behaviour intention. The research employed the reasoned action approach framework by Fishbein & Ajzen, (2010), with formal sector workers in three districts of Ghana as the population. Questionnaires were used to collect data and analysed using SmartPLS. The results of the study revealed that perceived financial knowledge, financial attitude, descriptive norm and locus of control had a significant positive relationship with financial behaviour intention. The assertion that actual financial knowledge and financial self-efficacy influence financial behaviour was not supported. It is recommended that financial education focuses on developing good financial attitudes and beliefs to enhance behavioural change.

Suggested Citation

  • Philomina Araba Sam & Professor Siaw Frimpong & Professor Stephen Kendie, 2021. "The Antecedents of Financial Behaviour Intention among formal sector workers," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(09), pages 169-176, September.
    • Handle: RePEc:bcp:journl:v:5:y:2021:i:09:p:169-176
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    References listed on IDEAS

    as
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    5. Gabriel Garber & Sergio Mikio Koyama, 2018. "Policy-effective Financial Knowledge and Attitude Factors in Latin America," Investigación Conjunta-Joint Research, in: María José Roa García & Diana Mejía (ed.), Financial Decisions of Households and Financial Inclusion: Evidence for Latin America and the Caribbean, edition 1, volume 1, chapter 3, pages 51-94, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
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