FINANCIAL SAVING PATTERNS IN MALAYSIAN ONLINE DISTANCE AND DIGITAL EDUCATION: LEARNERS DEMOGRAPHIC PERSPECTIVES

This article explores the savings behaviour of Online Distance and Digital Education (ODDE) learners in Malaysia focusing on the role it can play in promoting financial independence and long-term financial resilience. Given the variety of incomes among students, it is necessary to ensure they can thrive in their future careers financially as well as academically. The majority of the ODDE students were financially illiterate, with erratic or uncertain earnings and no access to suitable saving products. The main purpose of this study is to investigate the saving habits of the ODDE students and the impact of demographic variables on the students’ saving behaviour. A survey design with stratified random sampling was conducted to obtain the data of the study amongst ODDE students in Malaysia. Data was analysed with SPSS that allowed thorough examination of descriptive statistics for 377 participants. The finding indicated that short- term saving was the most favourable option among ODDE student representing the conventional and well-known method of saving. This analysis suggests that one size doesn’t fit all. Instead, what is needed is financial behaviour models that are specific to various cultures and ages conducive to predicting education savings.