The Influence of Financial Literacy, Parental Income, Hedonistic Lifestyle and Self-Control on Student Financial Management Behavior in Pekanbaru City
FINANCIAL MANAGEMENT BEHAVIOR
Abstract
Research aims:
This study aims to determine the effect of financial literacy, parental income, hedonic lifestyle and self-control on the financial management behavior of students in Pekanbaru City.
Design/Methodology/Approach:
This type of research is quantitative descriptive research with a total sample of 82 respondents in students in Pekanbaru City. Data collection was carried out by distributing questionnaires (google form) online with a Likert scale. In the data analysis process using SEM-PLS software.
Research findings:
The results of this study indicate that financial literacy, hedonic lifestyle, and self-control do not have a significant influence on the financial management behavior of students in Pekanbaru City. Meanwhile, parental income has a significant influence on the financial management behavior of students in Pekanbaru City. The Determination Coefficient (R2) with a value of 0.155 or 15.5% indicates that financial management behavior is influenced by financial literacy, parental income, hedonic lifestyle and self-control by 15.5%.
Theoretical Contribution/Originality:
This study contributes to the development of theoriesnon college students’ financial behavior by simultaneously examining financial literacy, parental income, hedonic lifestyle, and self-control in the context of college students in Pekanbaru. The finding that parental income has no significant effect is an interesting original poin.
Practical/Policy/Social Implications:
The research findings can serve as a reference
for universities and policymakers to improve financial literacy and self-control education for students. Sosially it can foster awareness of the importance of responsible financial management from an early age.
Research Limitations/Implications:
The study was limited to a small sample size and online data collection. Future research is recommended to expand the scope, increase the sample size, an consider other variables such as financial attitudes or peer influence.
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