The major goal of this study is to examine the level of financial management attitude and practise among medical practitioners in Malaysia's urban and rural areas. Doctors learn money management by trial and error, and they frequently discover their mistakes and deficits later in life. This study examined medical practitioners' attitudes toward personal financial management and highlighted financial management trends, strengths, and shortcomings in Malaysia. A pre-tested questionnaire was utilised in this cross-sectional study to conduct face-to-face interviews with randomly selected medical specialists and medical officials using a multistage sampling procedure. The questionnaire was completed by 402 doctors (urban 46.0 percent, rural 54.0 percent). Malays made up the bulk of respondents (54.5%), with Indians (25.6%), Chinese (16.7%), and people of various ethnicities making up the rest (3.2 percent ). 64.2 percent of respondents were medical officers, while 35.8% were specialists. Only 34.6 percent of doctors in the country practise positive or favourable financial management, according to 76.4 percent of respondents. The most ignored topic is retirement and estate planning, with only 3.8 percent of respondents scoring highly. Finally, this study discovered that while medical practitioners in Malaysia had a positive financial attitude, they lacked financial experience. This study lays the framework for future research and highlights the urgent need for a financial education programme to assist medical practitioners in making better financial decisions.
Author (S) Details
Rajna Anthony
The Malaysian Research Institute on Ageing (MyAgeingTM), MyAgeingTM Financial Literacy and Educational Hub, Universiti Putra Malaysia, 43400, UPM Serdang, Selangor Darul Ehsan, Malaysia.
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