Exploring Factors that Contribute to Individual Indebtedness among Young Muslims

Authors

  • Zairani Zainol
  • Zulkiflee Daud
  • Aini Nur Hajjar Khairol Nizam
  • Rosemaliza Abd Rashid
  • Nursiha Alias

Abstract

This research was aimed at exploring the factors that contribute to individual indebtedness among young Muslims. A total of 350 questionnaires were distributed to the target group within the age range of 25 and 45 years old who are facing debt problems and undergoing financial counselling from AKPK in the Northern region of Malaysia, which encompasses the states of Perak, Pulau Pinang and Kedah/Perlis. Of the 350 questionnaires distributed, 149 were usable as the level of debt of the respondents was 40% and above of the total monthly income. The results revealed that the factors contribute to individual indebtedness are personality extraversion, personality neuroticism, lifestyle impulsive buying, purchasing for lifestyle, parental guidance, religious practice and religious principal.

Keywords: Individual Indebtedness, Young Muslims, Factors

JEL Classification: M12

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Published

2016-11-20

How to Cite

Zainol, Z., Daud, Z., Nizam, A. N. H. K., Rashid, R. A., & Alias, N. (2016). Exploring Factors that Contribute to Individual Indebtedness among Young Muslims. International Journal of Economics and Financial Issues, 6(7S), 320–328. Retrieved from https://www.econjournals.com/index.php/ijefi/article/view/3626