Abstract:
Financial behaviour explains how human emotions, biases, and cognitive
limits in processing and responding to information influence financial
decisions such as investments, payments, risk, and personal debt. It is vital
to recognize and comprehend the overall effects of financial actions on one's
circumstances and to make the proper cash management, precautions, and
budget planning decisions. The purpose of the study was to determine the
factors that influence the financial behaviour of development officers in Sri
Lanka. The data were collected using a quantitative approach by
distributing questionnaires, and the sample of 93 respondents was chosen
using the stratified random sampling technique. Regression analysis was
used to analyze the data. The findings of the study demonstrated that
financial literacy, financial self-efficacy, and socio-economic position had a
positive and significant impact on development officers' financial behaviour.
As per the results of the study, the most significant influence on
development officers' financial behaviour was their socio-economic
background. The results revealed that all of the independent factors of the
study have a significant impact on financial behaviour. As a result, the
findings of the study provide direction for future researchers to develop
more financial variables. The study has a drawback in terms of generalizing
the findings because it only investigated the Kaluthara district. Future
researchers can replicate the study in a variety of scenarios to get a more
generalized insight.
