Cognition and Behavior in Personal Financial Planning of People in Hatyai City

Main Article Content

Porntip Jirathumrong Panern Intara Klangjai Sangwichitr Noppawan Mann

Abstract

This study aims to understand the cognition and behavior in personal financial planning of people in Hatyai city. The researchers used questionnaires to collect data on a sample of 400 participants. The statistics for data analysis were t-test ANOVA at a significance level of 0.05. The findings indicated that the highest area of knowledge across the sample related to personal savings. In addition, the moderate level of behavior across the sample related to personal financial planning behavior; revenue and expenses management behavior; and investment behavior. The hypothesis testing shown that people with different personal factors, which consist of gender, age, number of family members, number of dependents, level of education, career, average monthly income, and average monthly expenses, had different cognition in each category of personal financial except cognition of personal saving. Moreover, People with different cognition of personal financial planning, saving planning, personal tax planning and retirement planning had different behavior in each categories of personal financial planning. This research shows that organizations involved in providing personal financial planning knowledge should play a role in providing knowledge on debt management, investment, risk management, insurance planning, and personal tax planning. In addition, they should assist people who seek counselling, on the understanding that many factors can influence a person’s financial knowledge. This advice will allow people to use and apply financial knowledge effectively.

Keywords

Article Details

How to Cite
Jirathumrong, P., Intara, P., Sangwichitr, K., & Mann, N. (2019). Cognition and Behavior in Personal Financial Planning of People in Hatyai City. WMS Journal of Management, 8(2), 1-17. Retrieved from https://www.tci-thaijo.org/index.php/wms/article/view/184356
Section
Research Articles-Academic Articles
Author Biographies

Porntip Jirathumrong

Faculty of Management Sciences Prince of Songkla University. 15 Karnjanavanich Road, Hatyai , Songkhla 90110, Thailand.

Panern Intara

Faculty of Management Sciences Prince of Songkla University. 15 Karnjanavanich Road, Hatyai , Songkhla 90110, Thailand.

Klangjai Sangwichitr

Faculty of Management Sciences Prince of Songkla University. 15 Karnjanavanich Road, Hatyai , Songkhla 90110, Thailand.

Noppawan Mann

Faculty of Management Sciences Prince of Songkla University. 15 Karnjanavanich Road, Hatyai , Songkhla 90110, Thailand.

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