Household Financial Wellbeing: The Role of Financial Behavior, Financial Management Skills, and Financial Security
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The creation of household financial well-being is an essential aspect of people’s lives because it results from sound financial behavior, strong financial management skills, and financial security, which together enable individuals to manage daily expenses, plan for the future, and reduce financial stress. Therefore, the objective of this research is to explore the causal influence between financial behavior and financial management skills that affect financial security and the creation of financial well-being. This is a quantitative cross-sectional research with fieldwork to collect data from 179 households in Muak Lek District, Saraburi Province. This area was chosen as it reflects typical Thai households facing financial planning and security challenges. The collected data were analyzed through statistical values with Frequency, Percentage, Mean, Standard Deviation, Correlation Analysis, Confirmatory Factor Analysis (CFA), examination of the conceptual framework consistency, and testing of hypotheses using Structural Equation Analysis (SEM). The results of the hypothesis testing show a significant positive influence between financial behavior (cash planning, saving planning, investment planning, and financial planning) and financial management skills. In addition, financial behavior (saving planning and financial planning) has a positive influence on financial security, and financial behavior (saving planning, investment planning, and financial planning) has a positive influence on the creation of financial well-being of households. However, the results of the research found that financial behavior (cash planning and financial planning) has no influence on financial security and financial behavior (cash planning) has no influence on creating financial well-being for households. The findings of this research demonstrate the concept of creating financial well-being for households through financial behavior, financial management skills, and financial security as a part of solving the problem of increasing household debt and promoting financial management and financial planning through the use of appropriate and effective financial management skills to create household sustainability.
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ข้อความที่ปรากฏในบทความแต่ละเรื่องในวารสารวิชาการเล่มนี้เป็นความคิดเห็นส่วนตัวของผู้เขียนแต่ละท่านไม่เกี่ยวข้องกับมหาวิทยาลัยมหาสารคาม และคณาจารย์ท่านอื่นๆในมหาวิทยาลัยฯ แต่อย่างใด ความรับผิดชอบองค์ประกอบทั้งหมดของบทความแต่ละเรื่องเป็นของผู้เขียนแต่ละท่าน หากมีความผิดพลาดใดๆ ผู้เขียนแต่ละท่านจะรับผิดชอบบทความของตนเองแต่ผู้เดียว
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