Factors Influencing Decision Making on Personal Financial Planning of First Jobbers Residing in Bangkok

Abstract

The research objectives were to study the influence of motivation, attitude, and quality of service factors on the decision by First Jobbers to do personal financial planning. The First Jobbers were 20-30 years of age. A purposive sampling method was used to select a group of 400 First Jobbers, 20-30 years of age, residing in Bangkok, and who had experience in making a personal financial plan. Also, 2 top managers of Thai Life Insurance Public Company Limited and the president of the Financial Club (FA Club). The research instruments were a questionnaire for the First Jobbers, and semi-structured interviews for the executives. Descriptive statistics were used to analyze the data: exploratory factor analysis by Principal Component Analysis and the Varimax axis rotation method. Multiple regression analysis techniques were used to determine the correlation coefficient of factors influencing the decision to do the personal financial plan of the First Jobbers. The results of the study showed that the factors which influenced the decision to do the personal financial planning most were motivation (Beta = .480), followed by quality of service (Beta = .378) and attitude (Beta = .317) respectively.