FINANCIAL LITERACY DAN FINANCIAL SECURITY: PERAN MEDIASI FINACIAL BEHAVIOR
Abstract
Financial literacy is closely related to the achievement of future financial security and financial behavior. The role of financial literacy is very important to achieve financial security for individuals. Financial literacy can also improve financial behavior as well as financial security. The research aims to find out how financial behavior is able to m ediate the influence of financial literacy on financial security. This study uses a type of quantitative research. The data sources in the study are primary data and questionnaires as data collection techniques. The sampling technique used purposive sampling with a total of 61 student respondents in several universities in the special region of Yogyakarta. The analysis of the research data using Smart PLS version 4.0. The results of this study show that financial literacy has a positive effect on financial security, financial literacy has a positive effect on financial behavior, financial behavior has a positive effect on financial security and financial behavior mediates the positive effect of financial literacy on financial security.
References
Abdurrahman,S. W., & Oktapiani,S. (2020). Pengaruh Literasi Keuangan dan Lingkungan Sosial Terhadap Perilaku Keuangan Mahasiswa Universitas Teknologi Sumbawa, Jurnal Ekonomi Dan Bisnis Indonesia, 5(2), 50–55.
Atkinson, A., & Messy, F. A. (2011). Assessing financial literacy in 12 countries: an OECD/INFE international pilot exercise. Journal of Pension Economics & Finance, 10(4), 657-665.
Bae, K., Jang, G. Y., Kang, H. G., & Tan, P. (2022). Early financial education, financial literacy, and gender equity in finance. Asia‐Pacific Journal of Financial Studies, 51(3), 372-400.
Ban, T. K., & Darware, S. A. (2024). Analyzing Savings Behavior Among College Students: A Case Study Review of Bank Financial Education Initiatives Accounting, Asia Pacific International Journal, 7(3), 361–375.
Bashir, T., Hassan, A., Nasir, S., Baber, A., & Shahid, W. (2013). Gender differences in saving behavior and its determinants: Patron from Pakistan. Journal of Business and Management, 9(6), 74-86.
Behrman, J. R., Mitchell, O. S., Soo, C. K., & Bravo, D. (2012). How financial literacy affects household wealth accumulation. American Economic Review, 102(3), 300-304.
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.
Chu, Z., Wang, Z., Xiao, J. J., & Zhang, W. (2017). Financial literacy, portfolio choice and financial well-being. Social indicators research, 132, 799-820.
Demirguc-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2018). The Global Findex Database 2017: Measuring financial inclusion and the fintech revolution. World Bank Publications.
Fallis, A. (2013). Kajian Literasi Finansial dan Prilaku Konsumtif Guru di SMAN 4 Makasar. Journal of Chemical Information and Modeling, 53(9), 1689-1699.
Fortuijn, J. D., & Ostendorf, W. (2004). Gender and urban poverty: Single mothers in Amsterdam. GeoJournal, 61, 239-246.
Garg, N., & Singsh, S. (2018). Financial literacy among youth. Int J Soc Econ, 45(1),173-186.
Gathergood, J. (2012). Self-control, financial literacy and consumer over-indebtedness. Journal of economic psychology, 33(3), 590-602.
Gerrans, P., Speelman, C., & Campitelli, G. (2014). The relationship between personal financial wellness and financial wellbeing: A structural equation modelling approach. Journal of Family and Economic Issues, 35, 145-160.
Ghozali, I. (2018).Aplikasi Analisis Multivariate dengan Program IBS SPSS 25 (9th ed). Badan Penebit Universitas Diponegoo.
Ghozali, I. 2021. Aplikasi Analisis Multivariate Dengan Program IBM SPSS 26 Edisi 10. Badan Penerbit Universitas Diponegoro.
Gitman, L. J. (2019). Principle of Management Finance 15th Edition. Boston: Pearson
Education, Inc.
Grohmann, A. (2018). Financial literacy and financial behavior: Evidence from the emerging Asian middle class. Pacific-Basin Finance Journal, 48, 129-143.
Haines, V. A., Godley, J., Hawe, P., & Shiell, A. (2009). Socioeconomic disadvantage within a neighborhood, perceived financial security and self-rated health. Health & Place, 15(1), 383-389.
Hair, J. F., Hult, G. T. M., Ringle, C., & Sarstedt, M. (2017). A primer on partial least quares structural equatio modeling (PLS-SEM). In International Journal of Research & Method in Education, 38(2).
Hastings, J. S., Madrian, B. C., & Skimmyhorn, W. L. (2013). Financial literacy, financial education, and economic outcomes. Annu. Rev. Econ., 5(1), 347-373.
Henager, R., & Cude, B. J. (2016). Financial Literacy and Long-and Short-Term Financial Behavior in Different Age Groups. Journal of Financial Counseling and Planning, 27(1), 3-19.
Hendry, H., Alvin, A., Sutiono, R., Permana, E. M., & Jordan, C. L. (2022). Pengaruh Pendapatan, Sikap Keuangan, dan Literasi Keuangan terhadap Perlilaku Keuangan dengan Locus of Control sebagai variabel moderator (Studi Kasus pada Mahasiswa Pascasarjana Fakultas Ekonomi Universitas Prima Indonesia). Management Studies and Entrepreneurship Journal (MSEJ), 3(3), 968-980.
Herawati, N. T., Candiasa, I. M., Yadnyana, I. K., & Suharsono, N. (2018). Factors that influence financial behavior among accounting students in Bali. International Journal of Business Administration, 9(3), 30-38.
Howell, R. T., Kurai, M., & Tam, L. (2013). Money buys financial security and psychological need satisfaction: Testing need theory in affluence. Social Indicators Research, 110, 17-29.
Hryhoruk, P. M., Khrushch, N. A., & Grygoruk, S. S. (2019). Model for assessment of the financial security level of the enterprise based on the desirability scale.
INFE, O. (2012). OECD/INFE high-level principles on national strategies for financial education.
Kang, G.L., Park, C, W., Jang, S, H. (2024). A Study on the Impact of Financial Literacy and Digital Capabilities on Entrepreneurial Intention: Mediating Effect of Entrepreneurship, Behavioral Science, 14(2), 121.
Klapper, L., Lusardi, A., & Panos, G. A. (2013). Financial literacy and its consequences: Evidence from Russia during the financial crisis. Journal of Banking & Finance, 37(10), 3904-3923.
Klapper, L. F., Lusardi, A., & Van Oudheusden, P. (2015). Financial literacy around the world: insights from the Standard & Poor's ratings services global financial literacy survey.
Komara, R., Widyastuti, A., & Layyinaturrobaniyah. (2017). Financial literacy and financial behavior among government employees.
Kumar, S., Watung, C., Eunike, J., & Liunata, L. (2017). The Influence of financial literacy towards financial behavior and its implication on financial decisions: A survey of President University students in Cikarang-Bekasi.
Kumar, D. B. (2021). Money Management Among the Individual Working Personnel in India–A Study with Special Reference to Coimbatore District. Available at SSRN 3826744.
Kurihara, Y. (2013). Does financial skill promote economic growth. International Journal of Humanities and Social Science, 3(8), 92-97.
Laily, N. (2016). Pengaruh literasi keuangan terhadap perilaku mahasiswa dalam mengelola keuangan, 1(4).
Langdal, T. H., Johansen, V., & Sølvberg, A. M. (2022). Learn to teach and learn from teaching: teacher's experiences with programs focusing on financial literacy and entrepreneurship education. International Journal of Innovation in Education, 7(3-4), 145-161.
Lusardi, A., & Mitchell, O. S. (2007). Financial Literacy and Retirement Readiness. Evidence and Implications for Financial Education”,. Business Economics, Vol. 42,35–44.
Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Teory Evidence. Journal of Economic Literature, 52(1), 1-40.
Mitchell, O. S., & Lusardi, A. (2022). Financial literacy and financial behavior at older ages. In The Routledge Handbook of the Economics of Ageing, 553-565. Routledge.
Nicolini, G. (2019). Financial literacy in Europe: Assessment methodologies and evidence from European countries. Routledge.
Nindy, S., & Sulhan, M. (2021). Pengaruh Inklusi Keuangan dan Literasi Keuangan terhadap Kinerja UMKM pada masa Pandemi Covid-19 (studi kasus pada UMKM Kabupaten Malang), Jurnal Competitive, 16(2), 59-69.
Puspita, G., & Isnalita, I. (2019). Financial Literacy: Pengetahuan, Kepercayaan Diri dan Perilaku Keuangan Mahasiswa Akuntansi. Owner: Riset dan Jurnal Akuntansi, 3(2), 117-128.
Ranidiah, F., & Arianto, T. (2020). Analisis Kinerja Keuangan Perbankan Syariah (Studi Empiris Bank Syariah ’ ’ Badan Usaha Milik Negara €™ €™ Di Indonesia Periode 2015-2018) ’ ’. Jurnal Ilmiah Akuntansi, Manajemen dan Ekonomi Islam (JAM-EKIS), 3(1).
Respati, D. K., Widyastuti, U., Nuryati, T., Musyaffi, A. M., Handayani, B. D., & Ali, N. R. (2023). How do students’ digital financial literacy and financial confidence influence their financial behavior and financial well-being? Nurture, 17(2), 40–50. https://doi.org/10.55951/nurture.v17i2.154
Roscoe, J. J. (1975). Fundamental research statistics for the behavioral sciences. New York : Holt, Rinehart and Winston.
Sabri, M. F., Wahab, R., Mahdzan, N. S., Magli, A. S., & Rahim, H. A. (2022). Mediating effect of financial behaviour on the relationship between perceived financial wellbeing and its factors among low-income young adults in Malaysia. Frontiers in psychology, 13, 858630.
Sari, C. P., & Wiyanto, H. (2020). Pengaruh pengetahuan keuangan, perilaku keuangan, dan pendapatan terhadap kepuasan keuangan. Jurnal Manajerial Dan Kewirausahaan, 2(4), 880-888.
Scheresberg, C.D.B. (2013). Financial literacy and financial behavior among young adults: Evidence and implications. Numeracy, 6(2), 5.
Satoto, S. H., & Putra, H. N. K. (2021). The effect of financial literacy and other determinants on the intention to use electronic money: Consumer behavior as a variable mediation. International Journal of Applied Business and International Management (IJABIM), 6(3), 23-34.
Setyawan, W., & Wulandari, S. (2020). Perilaku Manajemen Keuangan Mahasiswa Kelas Karyawan Di Cikarang. Jurnal Ilmu Manajemen Dan Bisnis, 11(1).
Shim, S., Xiao, J. J., Barber, B. L., & Lyons, A. C. (2009). Pathways to life success: A conceptual model of financial well-being for young adults. Journal of applied developmental psychology, 30(6), 708-723.
Sholeh, B. (2019). Pengaruh literasi keuangan terhadap perilaku keuangan mahasiswa program studi pendidikan ekonomi universitas Pamulang. Pekobis: Jurnal Pendidikan, Ekonomi, Dan Bisnis, 4(2), 57.
Skagerlund, K., Lind, T., Strömbäck, C., Tinghög, G., & Västfjäll, D. (2018). Financial literacy and the role of numeracy–How individuals’ attitude and affinity with numbers influence financial literacy, Journal of Behavioral and Experimental Economics, 74, 18-25.
Sobaya, S., & Hidayanto, M. F. (2016). 09-Soya Sobaya. Jurnal Kajian Islam, 20, 115 -128.
Soetiono, K. S., & Setiawan, C. (2018). Indonesian Financial Literacy and Inclusion. Press Eagle.
Stashchuk, O., Shmatkovska, T., Dziamulych, M., Nikolaeva, A., Mostovenko, N., Zabedyuk, M., & Ishchuk, L. (2020). Assessment of joint stock companies finance security risks in Ukraine. Accounting, 6(7), 1181-1192.
Strömbäck, C., Lind, T., Skagerlund, K., Västfjäll, D., & Tinghög, G. (2017). Does self-control predict financial behavior and financial well-being?. Journal of behavioral and experimental finance, 14, 30-38.
Sumarlan, A., & Setiadi, Y. W. (2022). Pengukuran Kinerja Perusahaan Berdasarkan Balance Scorecard Pada Pt Asuransi Multi Artha Guna Tbk Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Ilmiah Akuntansi, Manajemen dan Ekonomi Islam (JAM-EKIS), 5(1), 104-122.
Suriana, O., Fraternesi, F., & Febriansyah, E. (2020). PENGARUH SOLVABILITAS, PROFITABILITAS, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN (Studi Empiris Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2016-2018). Jurnal Ilmiah Akuntansi, Manajemen dan Ekonomi Islam (JAM-EKIS), 3(2).
Taft, M. K., Hosein, Z. Z., Mehrizi, S. M. T., & Roshan, A. (2013). The relation between financial literacy, financial wellbeing and financial concerns. International journal of business and management, 8(11), 63.
Tjandra, G. F., & Widoatmodjo, S. (2022). Pengaruh Keamanan Finansial, Minat dalam Masalah Keuangan, Kebutuhan Tabungan untuk Berjaga-Jaga, dan Gaya Pengambilan Keputusan terhadap Aktivitas Perdagangan Investor Retail di Pasar Modal Selama Pandemi Covid-19. Jurnal Manajerial Dan Kewirausahaan, 4(2), 369-377.
Thung, Chai Ming, et al. (2012). Determinants of Saving Behavior Among The University Students in Malaysia. A Research Project Submitted in Partial Fulfillment of the Requirement for The Degree of Bachelor of Commerce (Hons) Accounting, Faculty of Business and Finance. Journal in Departement of Commerce and Accounting.
Utari, Y. (2021). Pengaruh Pertumbuhan Penjualan dan Profitabilitas Terhadap Harga Saham Pada Perusahaan Manufaktur Sub Sektor Otomotif Dan Komponen Tahun 2015-2019 (Doctoral dissertation, Universitas Islam Negeri Sumatera Utara).
Van Rooij, M. C., Lusardi, A., & Alessie, R. J. (2012). Financial literacy, retirement planning and household wealth. The Economic Journal, 122(560), 449-478.
Wahyuni, S. F., Radiman, R., & Kinanti, D. (2023). Pengaruh literasi keuangan, lifestyle hedonis dan sikap keuangan pribadi terhadap perilaku keuangan mahasiswa. Owner: Riset dan Jurnal Akuntansi, 7(1), 656-671.
Xiao, J. J. (2008). Handbook of Consumer Finance Research: Second Edition. Handbook of Consumer Finance Research: Second Edition, April, 1–376.
Xiao, J. J., & Porto, N. (2017). Financial education and financial satisfaction: Financial literacy, behavior, and capability as mediators, International Journal of Bank Marketing, 35(5), 805-817.
Xiao, J. J., Chen, C., & Sun, L. (2015). Age differences in consumer financial capability. International Journal of Consumer Studies, 39(4), 387-395.
Yuniarti, R., Riswandi, P., & Finthariasari, M. (2021). Analisis Pengaruh Koneksi Politik dan Gender Diversity Terhadap Fee Audit. Jurnal Akuntansi Keuangan dan Bisnis, 14(1), 133-142.
Zulfiqar, M., & Bilal, M. (2016). Financial Wellbeing is the Goal of Financial Literacy. Research Journal of Finance and Accounting,7(11),94-103.
Zins, A., & Weill, L. (2016). The determinants of financial inclusion in Africa. Review of development finance, 6(1), 46-57.
