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 Factor Analysis of Islamic Financial Literacy and Its Determinants: A Pilot Study

Table 2:

Component
1 H 2 R 3FS
HOPELESSNESS (Cronbach’s Alpha : 0.893)I feel it is impossible for me to reach the goals that I would like to strive forThe future seems hopeless to me and I can’t believe that things are changing for the betterI don’t expect to get what I really wantThere’s no use in really trying to get something I want because I probably won’t get it.All I see ahead of me are bad things, and not good thingsI might as well give up because I can’t make things better for myselfI never get what I want, so it’s dumb to want anythingRELIGIOSITY (Cronbach’s Alpha : 0.920)I believe in a Allah/God who determines pre-destinationDoing something contrary to Islam is forbidden by Allah/GodI pray mainly to gain relief and protection I find strength and comfort in my religionI try to follow my religious beliefs in all matters of my lifeI always keep myself away from earning through haram (prohibited) meansI always perform my duties as a servant of Allah/God 0.541 0.778 0.728 0.802 0.776 0.760 0.721 0.7480.8540.8180.8390.8250.7450.608
FINANCIAL SATISFACTION (Cronbach’s Alpha : 0.820)I rarely run short of money I am satisfied with my current financial situationIf I’m having financial difficulties I could manage it for a period of timeBased on my current financial status, I could easily obtain loans if I need oneI am satisfied with my ability to meet my financial obligationsI have an effort to improve my current financial situationSometimes I feel the amount of loans received are sufficient to cover my living costsEigenvaluePercentage of VarianceCumulative Percentage 3.36620.93320.933 7.73723.460 44.393 0.7460.75006270.6900.6930.6190.7211.67316.27760.67
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