Results of OLS and 2SLS.

Young adults face many significant challenges to their financial well-being. The rising cost of living and unstable economies have impacted how they consume, manage, and save monthly income to maintain their standard of living. Hence, exploring the financial well-being of young adults in Malaysia is an intriguing and relevant research topic that deserves examination from multiple perspectives. This study aims to investigate how these three factors, namely financial knowledge and locus of control with financial behaviour as a mediator, are correlated with the financial well-being of low-income young adults in Malaysia. A total of 520 young adults from North, Central, South, East zones in Peninsular Malaysia and East Malaysia were randomly chosen using a multi-stage sampling technique as the sample of this study. Data in this study were obtained using a set of questionnaire-based survey through cross-sectional study and then scrutinized using IBM SPSS (Statistical Package of Social Science). This study discovered that financial knowledge, internal and external locus of control, and financial behaviour were significantly correlated with the financial well-being of low-income young adults. The findings also demonstrate that financial behaviour mediates the correlation between financial knowledge, both internal and external locus of control, and financial well-being. This study is one of the very few important studies that explore the link between financial literacy, locus of control, financial behaviour, and financial well-being among low-income young adults. This study also found an interesting and noteworthy fact regarding the impact of the minimum monthly wage policy on highly educated young adults in Malaysia, which is worth discussing and needs to be alerted to the policymakers and leaders of the country. Therefore, the findings of this study can be utilized as a starting point by policymakers, government organizations, and non-governmental organizations to create new initiatives aimed at raising financial well-being among the younger generation.

青年群体在金融福祉（financial well-being）层面面临诸多严峻挑战。不断攀升的生活成本与动荡的经济环境，影响了他们的消费模式、月度收入管理与储蓄行为，进而制约其生活水平的维持。因此，针对马来西亚青年群体金融福祉的探究，是一项兼具学术价值与现实意义的研究课题，值得从多维度展开深入考察。本研究旨在探究三大因素——即金融知识与控制点（locus of control），并以金融行为作为中介变量——与马来西亚低收入青年金融福祉之间的相关性。本研究采用多阶段抽样法，从马来西亚半岛北、中、南、东四个区域及东马来西亚地区，随机选取了共计520名青年作为研究样本。本研究的数据通过横断面问卷调查法收集，随后借助IBM SPSS（社会科学统计软件包，Statistical Package of Social Science）进行数据分析与检验。研究结果显示，金融知识、内控型与外控型控制点，以及金融行为，均与低收入青年的金融福祉存在显著相关性。研究同时证实，金融行为在金融知识、内外控型控制点与金融福祉的相关性中起到了中介作用。本研究是为数不多针对低收入青年群体中金融素养、控制点、金融行为与金融福祉之间关联展开的重要研究之一。本研究还发现了一项颇具意义且值得关注的结论：马来西亚最低工资政策对高学历青年群体产生的影响，该结论值得深入探讨，并有必要提请该国政策制定者与国家领导人予以重视。因此，本研究的结果可作为政策制定者、政府组织与非政府组织推出旨在提升青年一代金融福祉的新举措的参考起点。