EFFECTS OF GROWTH MINDSET FOR PERSONAL FINANCIAL PLANNING ON GOVERNMENT OFFECERS’ FINANCIAL FREEDOM IN THAILAND

Abstract

The purpose of this study were 1) to compare the level of growth mindset for personal financial planning between government officers who had financial freedom and those who did not and 2) to study the effects of growth mindset in personal financial planning on government officers’ financial freedom and survival ratio in Thailand. The study was quantitative research. The samples consisted of 674 government officers including government officers who had financial freedom and those who did not. The study tool was a questionnaire. The data were analyzed using mean, standard deviation and logistic regression analysis.

The research findings were, as follows: 1) Most of the government officers who answered the questionnaire had not financial freedom but had survival ratio. They live in Bangkok and the surrounding areas, and are female, aged 50-59 years old, married and hold a bachelor's degree. Most respondents have the highest level of growth mindset in personal financial planning. The group who had financial freedom and those who did not, were not significantly different in terms of the level of growth mindset in financial planning. 2) The model of the effects of growth mindset for personal financial planning on government officers’ financial freedom in Thailand was suitable and was 75.1% accurate for predicting the financial freedom. Also, there was no factor that significantly affected the government officers’ financial freedom. 3) The model of the effects of growth mindset for personal financial planning on government officers’ survival ratio in Thailand was suitable and was 91.1% accurate for predicting the survival ratio. There were two factors that significantly affected government officers’ survival ratio which are age and growth mindset for personal financial planning.