The Muamalat Newsletter Vol. 2 2023

67 FEM eNewsletter | Dec 2023 variables, is a crucial condition for validity (Hair et al., 2013). Cooper and Schindler (2003) emphasise the importance of examining instrument reliability before analysing its validity. Most studies generally consider a Cronbach’s alpha score above 0.7 as appropriate (Nunnally, 1978; Zikmund, 2003). Results Three marketing academics were appointed, and five respondents were selected to check and answer the questionnaire. Their views and suggestions were compiled, and improvements to the questionnaire were made in response. As for this study, no substantial revisions were made. The study’s Cronbach’s alpha values for FWB (0.824), financial attitude (0.748), and environmental sustainability (0.848) are above 0.7, indicating high reliability and acceptableness of the questionnaire. Conclusion This main study aims to examine the impact of financial attitude and environmental sustainability on FWB among Malaysians. A pilot test was conducted as a crucial initial step in the research protocol, aiding in planning and modifying the main study before conducting the actual study. The study’s reliability test showed the questionnaire was appropriate with a Cronbach’s alpha greater than 0.7. Its usability and positive response rate confirmed its reliability for future larger investigations, proving the effectiveness of online surveys for main data collection. References: Brüggen, E. C., Hogreve, J., Holmlund, M., Kabadayi, S., & Löfgren, M. (2017). Financial well-being: A conceptualization and research agenda. Journal of Business Research, 79, 228-237. Asbi, A., Ramiah, V., Yu, X., Wallace, D., Moosa, N., & Reddy, K. (2020). The determinants of recovery from the Black Saturday bushfire: demographic factors, behavioural characteristics and financial literacy. Accounting & Finance, 60(1), 15-46. Consumer Financial Protection Bureau (2015). Financial well-being: The goal of financial education. Available at: https://files.consumerfinance.gov/f/201501_cfpb_report_financial-well-being.pdf Cooper, D. R., & Schindler, P. S. (2003). Business research methods. 8th Edn., Boston: McGraw-Hill Irwin. Devisakti, A., & Ramayah, T. (2019). E-learning usage outcomes among university learners: a pilot study. Journal of Education and e-learning Research, 6(3), 149-155. Hair, J. F., Ringle, C. M., & Sarstedt, M. (2013). Partial least squares structural equation modeling: Rigorous applications, better results and higher acceptance. Long Range Planning, 46(1-2), 1-12. Hasler, A., Lusardi, A., & Sconti, A.. (2023, February 28). Development and testing of a comprehensive financial well-being measure. Available at: https://g53network.org/wp-content/uploads/2023/06/Sticha- Development-and-Testing.pdf Humaira, I., & Sagoro, E. M. (2018). The influence of financial knowledge, financial attitude, and personality towards financial management behavior on small medium enterprises at batik craft of Bantul regency. Jurnal Nominal, 7(1), 96-110. Johanson, G. A., & Brooks, G. P. (2010). Initial scale development: sample size for pilot studies. Educational and Psychological Measurement, 70(3), 394-400. Nunnally, J. C. (1978). An overview of psychological measurement. Clinical Diagnosis of Mental Disorders: A Handbook, 97-146. Rai, K., Dua, S., &Yadav, M. (2019). Association of financial attitude, financial behaviour and financial knowledge towards financial literacy: A structural equation modeling approach. FIIB Business Review, 8(1), 51-60. Van Teijlingen, E., & Hundley, V. (2001). The importance of pilot studies. Social Research Update, (35), 1-4. Zikmund, W. G. (2003). Business research methods (7th ed.). Mason, OH: South-Western, Thomson Learning. Ms. Raja Puteri Natasha Raja Nor Azlan Final Year Student Bachelor of Marketing (Financial Services) natashaazlan01@raudah.usim.edu.my Dr. Wan Rasyidah Wan Nawang Senior Lecturer Marketing, Consumer Behavior and Financial Services Marketing wrasyidah@usim.edu.my