ENHANCING FINANCIAL WELL-BEING THROUGH DIGITAL FINANCIAL LITERACY: ACCELERATING THE ACHIEVEMENT OF SDGS

Abstract

This paper, which is conceptual in nature, discusses the moderating effects of the relationship between several factors that may affect the intention towards indebtedness among Malaysians. The proposed variables under examination are attitude towards indebtedness, perceived behavioural control, and subjective norms, while digital financial literacy serves as a moderator variable. The issue of rising household debt in Malaysia, coupled with inadequate financial literacy in the digital era, highlights the urgency to understand behavioural determinants of indebtedness, particularly among younger generations who are more exposed to online financial products. The main objective of this study is to investigate whether digital financial literacy can weaken or strengthen the relationship between factors and the intention towards indebtedness. Methodologically, the study proposes a quantitative approach using simple random and stratified sampling, with Structural Equation Modelling–Partial Least Squares (SEM-PLS) employed to test the relationships. If validated, the findings would provide valuable references for the regulators, practitioners, and other stakeholders in curbing the digital financial illiteracy in Malaysia, while contributing towards the achievement of Sustainable Development Goals (SDGs).