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Article

The Relationship Between Sociodemographic Attributes and Financial Well-Being of Low-Income Urban Families Amid the COVID-19 Pandemic: A Case Study of Malaysia

by
Abdullah Sallehhuddin Abdullah Salim
1,
Norzarina Md Yatim
2,* and
Al Mansor Abu Said
3
1
Faculty of Accountancy and Management, Universiti Tunku Abdul Rahman, Kajang 43000, Selangor, Malaysia
2
Faculty of Management, Multimedia University, Cyberjaya 63100, Selangor, Malaysia
3
Faculty of Business, Multimedia University, Bukit Beruang 75450, Melaka, Malaysia
*
Author to whom correspondence should be addressed.
J. Risk Financial Manag. 2024, 17(12), 544; https://doi.org/10.3390/jrfm17120544
Submission received: 14 October 2024 / Revised: 27 November 2024 / Accepted: 27 November 2024 / Published: 29 November 2024
(This article belongs to the Special Issue Featured Papers in Finance and Society Wellbeing—in Honor of Professors Joe Gani and Chris Heyde)
Versions Notes

Abstract

The COVID-19 pandemic and the Movement Control Order (MCO) have had a negative impact on the financial well-being of low-income families in urban areas. This study involved respondents living in the public housing project (PPR) residential areas in Kuala Lumpur—the capital of Malaysia. The key finding is that the financial well-being of low-income urban families was negatively impacted due to the COVID-19 pandemic and the MCO implementation. Furthermore, the impact on the financial well-being of low-income urban families is significantly different in terms of types of families, type and sector of employment, type of home ownership, household monthly income, and education level. Reforms to the financial assistance system and the community empowerment of low-income urban families are necessary to increase the community’s preparedness and resilience in the face of new shocks in the future.
Keywords: financial well-being; low-income families; urban poverty; COVID-19 pandemic; sociodemographic financial well-being; low-income families; urban poverty; COVID-19 pandemic; sociodemographic

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MDPI and ACS Style

Abdullah Salim, A.S.; Md Yatim, N.; Abu Said, A.M. The Relationship Between Sociodemographic Attributes and Financial Well-Being of Low-Income Urban Families Amid the COVID-19 Pandemic: A Case Study of Malaysia. J. Risk Financial Manag. 2024, 17, 544. https://doi.org/10.3390/jrfm17120544

AMA Style

Abdullah Salim AS, Md Yatim N, Abu Said AM. The Relationship Between Sociodemographic Attributes and Financial Well-Being of Low-Income Urban Families Amid the COVID-19 Pandemic: A Case Study of Malaysia. Journal of Risk and Financial Management. 2024; 17(12):544. https://doi.org/10.3390/jrfm17120544

Chicago/Turabian Style

Abdullah Salim, Abdullah Sallehhuddin, Norzarina Md Yatim, and Al Mansor Abu Said. 2024. "The Relationship Between Sociodemographic Attributes and Financial Well-Being of Low-Income Urban Families Amid the COVID-19 Pandemic: A Case Study of Malaysia" Journal of Risk and Financial Management 17, no. 12: 544. https://doi.org/10.3390/jrfm17120544

APA Style

Abdullah Salim, A. S., Md Yatim, N., & Abu Said, A. M. (2024). The Relationship Between Sociodemographic Attributes and Financial Well-Being of Low-Income Urban Families Amid the COVID-19 Pandemic: A Case Study of Malaysia. Journal of Risk and Financial Management, 17(12), 544. https://doi.org/10.3390/jrfm17120544

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