Articlegold2023

Financial literacy and financial attitude on financial management behavior: An examination of the mediating role of the behavioral intention of students at private universities in Indonesia

Sri Fitri Wahyuni · Radiman Radiman · Muhammad Shareza Hafiz · Jufrizen Jufrizen

16 citations0/0 files storedInvestment Management and Financial Innovations

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Financial Literacy and Behavior Financial Analysis and Corporate Governance Financial Literacy, Pension, Retirement Analysis

Abstract

Financial management behavior is an implementation action of planning and managing a person’s financial resources, both in consumption and investment activities, which can show a person’s characteristics in financial management based on the risks that arise so that each needs good control. This study aims to determine the impact of financial literacy and financial attitude on financial management behavior, mediated by the behavioral intentions of university students. The participants in this study are undergraduate students currently enrolled at prestigious private universities in Medan (North Sumatra, Indonesia). This study’s population and sample consisted of students from the Faculty of Economics and Business at Private Universities in North Sumatra, Indonesia. Purposive and snowball sampling were used with data collection techniques, namely online questionnaires. The Likert scale measures indicators in responses to statements and questions. There were 150 respondents for this study’s data collection. The findings of the study indicate that financial literacy influences financial management behavior and behavioral intentions (p < 0.05). Financial attitude affects financial management behavior (p < 0.05), financial attitude does not affect behavioral intentions (p > 0.05), and behavioral intention affects Financial Management Behavior (p < 0.05). Behavioral intentions do not mediate the effect of financial literacy on Financial Management Behavior (p > 0.05), and the effect of financial attitudes on Financial Management Behavior is not mediated by behavioral intentions (p > 0.05). AcknowledgmentsThis study is supported by all levels of management at Universitas Muhammadiyah Sumatera Utara for funding Fundamental research in 2022 and thanks also to the ranks of the Institute of Research and Community Service (LPPM) Universitas Muhammadiyah Sumatera Utara.

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References

1998An Analysis of Personal Financial Literacy Among College Students 2001Theories of reasoned action and planned behavior as models of condom use: A meta-analysis.2003Household Financial Management: The Connection between Knowledge and Behavior 2010Financial Literacy Explicated: The Case for a Clearer Definition in an Increasingly Complex Economy 2019Financial literacy and the need for financial education: evidence and implications 2016Motivation to learn: an overview of contemporary theories 2015The significance of financial self-efficacy in explaining women’s personal finance behaviour 2011The Financial Management Behavior Scale: Development and Validation

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