||300 Social sciences > 305 Social groups
||LPPKN - National Population and Family Development Board, Malaysia: Family Well-Being Division
||Financial beliefs, College students, Cultural differences, Behaviour, Malaysia
||This publication by National Population and Family Development board, Ministry of Women,Family and Community Development, Malaysia in collaboration with University of Putra Malaysia.
||This study compared the financial beliefs and behaviour of college students in two different cultures; Malaysia and United States. Using the social learning framework, the study assumed that children socialized in different culture will have different beliefs and behaviours. Two sets of data used were data from 665 college students Iowa State University (ISU)and convenience sampling of data from self administered questionnaires among 366 students of University Putra Malaysia (UPM). The result of the study revealed some similarity but many more differences. Cultural practices, economic and social environment influenced financial beliefs and behaviour of college students in both cultures. Service available and rules and regulations influence accessibility to services and choices available. ISU students was displaying favourable financial behaviour compared to UPM students. Students need to be aware and understand financial complexity to help them manage limited financial resources while studying as well as prepare them for work life.