An Empirical Study on Financial Behavior of Household Finance: Impact of Subjective and Objective Financial Knowledge, Self-Control, Self-Efficacy and Subjective Financial Wellbeing

2021 ◽  
Author(s):  
Ifra Khan ◽  
Danish Ahmed Siddiqui
Keyword(s):  
Empirical Study ◽  
Self Efficacy ◽  
Household Finance ◽  
Self Control ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Objective Financial Knowledge

SaveWise: The design of a financial education program in the Netherlands

2019 ◽  
Vol 18 (2) ◽  
pp. 100-120 ◽  
Author(s):  
Aisa Amagir ◽  
Wim Groot ◽  
Henriëtte Maassen van den Brink ◽  
Arie Wilschut
Keyword(s):  
High School ◽  
High School Students ◽  
The Netherlands ◽  
Education Program ◽  
Self Efficacy ◽  
Financial Education ◽  
Goal Commitment ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
School Students

Using a framework for educational design research, this article reports and evaluates the (process of the) design of a financial education program. The program is designed for high school students in the prevocational track in the Netherlands. The aim of the program is to improve students’ financial knowledge, attitudes, self-efficacy, and (savings) behavior. The main outcome of this study is the identification of design principles that can be used by others for the design of financial education programs: setting a personal savings goal, commitment with and reflection on this goal, discussing money issues with peers and family, hands-on activities with autonomy, and explicit instruction through animated video clips. The results show that our program, called “SaveWise,” improves high school students’ financial knowledge and skills, financial awareness, attitudes towards money, self-efficacy, and financial behavior.

scholarly journals THE INFLUENCE OF FINANCIAL INFORMATION, FINANCIAL SELF EFFICACY, AND EMOTIONAL INTELLIGENCE TO FINANCIAL MANAGEMENT BEHAVIOR OF FEMALE LECTURER

2020 ◽  
Vol 7 (6) ◽  
pp. 1112-1124
Author(s):  
Nadia Asandimitra ◽  
Achmad Kautsar
Keyword(s):  
Emotional Intelligence ◽  
Financial Literacy ◽  
Financial Management ◽  
Self Efficacy ◽  
Psychological Factors ◽  
Private Universities ◽  
Financial Information ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Management Behavior

Purpose of the study: The purpose of the study was to compare the financial information, financial self-efficacy and emotional intelligence on the financial management of women lecturer in state and private university. Methodology: This study was designed as a conclusive causality study. The study population was female lectures of state and private universities in Indonesia. From the population, there are two hundred (200) female lectures from a state university and private universities have selected as a sample of study by quota sampling method. The data collection techniques used in this research are interviews and surveys. Multiple regressions was chosen to get results with the SPSS tools. Main Findings: There is an influence of financial knowledge, financial self-efficacy, financial literacy, and emotional intelligence to the financial management behavior of female lecturers at state universities while there is no influence of financial attitude, financial literacy, and emotional intelligence to the financial management [behavior] of female university lecturers in private universities. Applications of this study: The results of this study will be beneficial for financial institutions and governments that usually hold education and training programs for their customers to increase financial knowledge so as to increase the confidence of their customers (including lecturers) in their ability to manage finance. Furthermore, this knowledge will be conveyed back to the students of the lecturer in the learning process about finance, so that it will indirectly increase the financial literacy of their students and society at large. Novelty/Originality of this study: Many researches about financial behavior topics have analyzed financial information factors’ influence on financial management behavior, but few of them have included psychological factors such as financial self-efficacy and emotional intelligence. This distinguishes this research compared to other studies of financial behavior as it analyzes the two effects of psychological factors on financial management behavior. Another novelty of this study is the selection of female lecturer as research object as their characteristic as well-informed and well-educated about financial management that has not observed by previous studies.

scholarly journals Financial Knowledge, Confidence, and Sustainable Financial Behavior

2021 ◽  
Vol 13 (19) ◽  
pp. 10926
Author(s):  
David Aristei ◽  
Manuela Gallo
Keyword(s):  
Causal Effect ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Financial Behaviors ◽  
Environmentally Responsible ◽  
Financial Investments ◽  
Information And Communication ◽  
Financial Market Participation ◽  
Objective Financial Knowledge ◽  
Investment Choices

This paper analyzes the effect of financial knowledge and confidence in shaping individual investment choices, sustainable debt behavior, and preferences for socially and environmentally responsible financial companies. Exploiting data from the “Italian Literacy and Financial Competence Survey” (IACOFI) carried out by the Bank of Italy in early 2020, we address potential endogeneity concerns in order to investigate the causal effect of objective financial knowledge on individual financial behaviors. To this aim, we perform endogenous probit regressions, using the respondent’s long-term planning attitude, the use of information and communication technology devices, and the financial knowledge of peers as additional instrumental variables. Our main empirical findings show that objective financial knowledge exerts a positive and significant effect on financial market participation and preferences for ethical financial companies. Moreover, we provide strong empirical evidence about the role of confidence biases on individual financial behaviors. In particular, overconfident individuals display a higher probability of making financial investments, experiencing losses due to investment fraud, and being over-indebted. Conversely, underconfident individuals exhibit suboptimal investment choices, but are less likely to engage in risky financial behaviors.

scholarly journals Pengaruh Pengetahuan Keuangan, Teman Sebaya, dan Parental Income terhadap Perilaku Keuangan dengan Self-Control sebagai Moderasi

Jurnal Ecogen ◽  
2021 ◽  
Vol 4 (2) ◽  
pp. 224
Author(s):  
Putri Cahyani ◽  
Rochmawati Rochmawati
Keyword(s):  
Structural Equation ◽  
Quantitative Research ◽  
Peer Pressure ◽  
Sampling Technique ◽  
Self Control ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Equation Modeling ◽  
Parental Income ◽  
Analysis Techniques

Abstract : Analyzing the effect of financial knowledge, friends of the same age, and parental income on financial behavior with self-control as a moderating variable is the purpose of this research. Quantitative research is a type of research used in this study. The research sample was determined by purposive sampling technique totaling 100 students. Data analysis techniques used Structural Equation Modeling (SEM). Data collection techniques used were test and questionnaires. The result of this research is that financial knowledge can’t significantly influence financial behavior of students. Peer pressure, parental income, and self control have a significant on student financial behavior. Self control cann’t moderate financial knowledge on financial behavior, but it can moderate peer moderation on financial behavior. Self control does not moderate parental income on student financial behavior.

scholarly journals Investment Decisions: The Results of Knowledge, Income, and Self-Control

2021 ◽  
Author(s):  
Siska Atmaningrum ◽  
Dwi Sunu Kanto ◽  
Zainul Kisman
Keyword(s):  
Economic Activity ◽  
Investment Decision ◽  
Investment Decisions ◽  
Self Control ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Financial Attitudes ◽  
The Public ◽  
Independent Variables ◽  
Intervening Variables

Investment is an economic activity that can be a way for a person to expand or maintain his wealth. However, in investing, the public must be more careful in making decisions so that they are not trapped by fake investments. In investing, there are several factors that influence the decision to invest, namely Financial Knowledge, Income, Self-Control, Financial Behavior, and Financial Attitude towards Investment Decisions. This study aims to examine the influence of the variables of Financial Knowledge, Income, and Self-Control on Investing Decisions mediated by Financial Behavior and Financial Attitudes. This study uses Financial Knowledge, Income, and Self-Control as independent variables, then Investment Decisions as the dependent variable, then Financial Behavior, and Financial Attitudes as intervening variables. The results of this study indicate that financial knowledge has an effect on financial behavior. Financial Knowledge affects Financial Attitudes. Financial knowledge influences investment decisions. Income has an effect on Financial Behavior. Income has an effect on Financial Attitudes. Income does not affect the Investment Decision. Self-control affects financial behavior. Self-Control affects Financial Attitudes. Self-Control has no effect on Investment Decisions. Financial Behavior has no effect on Investment Decisions. Financial Attitudes do not affect the Investment Decision.

scholarly journals THE DETERMINANCE OF THE FINANCIAL BEHAVIOR AMONG GRADUATE STUDENTS IN INDONESIA

2021 ◽  
Vol 5 (1) ◽  
pp. 29-42
Author(s):  
Nyoto . ◽  
Nicholas Renaldo ◽  
Gunasegaran Karuppannan ◽  
Abul Bashar Bhuiyan ◽  
Mokana Muthu Kumarasamy
Keyword(s):  
Graduate Students ◽  
Character Education ◽  
Path Analysis ◽  
Significant Influence ◽  
Self Efficacy ◽  
Influential Factors ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Primary Data ◽  
Study Results

The lifestyle of adolescents who migrate to work and college will largely determine their future. Concerns about economic conditions can cause problems with their behavior. This research has aimed to explore the most influential factors on Financial Behavior among graduate students in Indonesia. The Primary data collected by distributing questionnaires using a Likert scale. There are 239 samples have collected based on the combination of purposive and convenience sampling methods. The study used descriptive statistical techniques and path analysis techniques for data analysis. Based on path analysis results, study findings indicate that there is a significant influence of financial knowledge on financial self-efficacy; financial self-efficacy and financial knowledge on financial behavior; financial attitude and financial self-efficacy on financial behavior but there is no significant influence of financial knowledge on financial behavior. The study results also showed that adolescent habits are still not good but can be improved through education such as character education and achievement of a better motivation to deal with economic problems. The study recommended that the good habits can be passed on to friends of his age, especially adolescents so they can have a good future. JEL Classification Codes: F36, G02, A23.

scholarly journals A DETERMINANTS OF FINANCIAL BEHAVIOR ON ACCOUNTING STUDENT

2020 ◽  
Vol 5 (37) ◽  
pp. 44-55
Author(s):  
Wirawan ED Radianto ◽  
Tommy C. Effrata ◽  
Liliana Dewi
Keyword(s):  
Locus Of Control ◽  
Financial Literacy ◽  
Self Efficacy ◽  
Positive Impact ◽  
Mental Accounting ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Financial Decisions ◽  
The Impact ◽  
Accounting Student

This study examines the impact of financial literacy, financial knowledge, locus of control, financial attitude, financial self-efficacy, and mental accounting on financial behavior. The study sample is an accounting student. There are 159 questionnaires that can be processed in total out of 250 distributed to the accounting selected at random. Hypothesis testing was conducted using multiple regression analysis. The result of the study shows that locus of control, financial attitude, financial self-efficacy, and mental accounting has a positive impact on financial behavior. However, this study found that financial literacy and financial knowledge do not affect financial behavior. This study also found that mental accounting has the most influence on financial behavior. This research contributes that mental accounting enables students to manage finances and make financial decisions.

scholarly journals The Effects of Financial Literacy and Self-Control towards Financial Behavior among High School Students in Bogor

2020 ◽  
Vol 5 (2) ◽  
pp. 73-86
Author(s):  
Jihaan Khoirunnisaa ◽  
Irni Rahmayani Johan
Keyword(s):  
High School ◽  
High School Students ◽  
Financial Literacy ◽  
Self Control ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Low Grade ◽  
High Grade ◽  
Grade School ◽  
School Students

This research aims to analyze the effect of financial literacy and self-control on financial behavior among Bogor High School students. This research was conducted in two public high schools in Bogor, West Java, Indonesia, that were selected based on the level of passing grade of the school (high-grade and low grade). In collecting the data, this study used a self-administered questionnaire. About 113 of senior high school students from science and social majors were selected as the sample. This study found that financial knowledge and financial attitude were on a moderate level. High-grade school students tend to have better financial knowledge and attitude than those from low-grade schools. The results of this study also show that the self-control of students was classified as a low category. Those from low-grade schools were more likely to have better self-control compared to students from the high-grade school. Furthermore, financial behavior, which consists of saving and spending behavior, were categorized as poor. There was a significant difference in financial knowledge, financial attitude, and self-control among both schools. The financial attitude was positively significantly related to financial knowledge and behavior. Self-control was associated positively with financial behavior. Further analysis of multiple linear regression shows a positive and significant effect of financial attitude and self-control towards financial behavior.

scholarly journals Competence, Confidence, and Gender: The Role of Objective and Subjective Financial Knowledge in Household Finance

2020 ◽  
Vol 41 (4) ◽  
pp. 626-638 ◽  
Author(s):  
Thérèse Lind ◽  
Ali Ahmed ◽  
Kenny Skagerlund ◽  
Camilla Strömbäck ◽  
Daniel Västfjäll ◽  
...  
Keyword(s):  
Cognitive Abilities ◽  
Financial Education ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Swedish Population ◽  
Financial Behaviors ◽  
Cognitive Reflection ◽  
And Gender ◽  
Objective Financial Knowledge ◽  
Subjective Financial Knowledge

AbstractWe studied the association of individual differences in objective financial knowledge (i.e. competence), subjective financial knowledge (i.e. confidence), numeric ability, and cognitive reflection on a broad set of financial behaviors and feelings towards financial matters. We used a large diverse sample (N = 2063) of the adult Swedish population. We found that both objective and subjective financial knowledge predicted frequent engagement in sound financial practices, while numeric ability and cognitive reflection could not be linked to the considered financial behaviors when controlling for other relevant cognitive abilities. In addition, both objective and subjective financial knowledge served as a buffer against financial anxiety, while we did not detect similar buffering effects of numeric ability and cognitive reflection. Subjective financial knowledge was found to be a stronger predictor of sound financial behavior and subjective wellbeing than objective financial knowledge. Women reported a lower level of subjective financial wellbeing even though they reported a more prudent financial behavior than men, when controlling for sociodemographics and cognitive abilities. Our findings help to understand heterogeneity in people’s propensity to engage in sound financial behaviors and have implications for important policy issues related to financial education.

scholarly journals Investment Decisions: The Results of Knowledge, Income, and Self-Control

2021 ◽  
Vol 4 (1) ◽  
Author(s):  
Siska Atmaningrum ◽  
◽  
Dwi Sunu Kanto ◽  
Zainul Kisman
Keyword(s):  
Economic Activity ◽  
Investment Decision ◽  
Investment Decisions ◽  
Self Control ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Financial Attitudes ◽  
The Public ◽  
Independent Variables ◽  
Intervening Variables

Investment is an economic activity that can be a way for a person to expand or maintain his wealth. However, in investing, the public must be more careful in making decisions so that they are not trapped by fake investments. In investing, there are several factors that influence the decision to invest, namely Financial Knowledge, Income, Self-Control, Financial Behavior, and Financial Attitude towards Investment Decisions. This study aims to examine the influence of the variables of Financial Knowledge, Income, and Self-Control on Investing Decisions mediated by Financial Behavior and Financial Attitudes. This study uses Financial Knowledge, Income, and Self-Control as independent variables, then Investment Decisions as the dependent variable, then Financial Behavior, and Financial Attitudes as intervening variables. The results of this study indicate that financial knowledge has an effect on financial behavior. Financial Knowledge affects Financial Attitudes. Financial knowledge influences investment decisions. Income has an effect on Financial Behavior. Income has an effect on Financial Attitudes. Income does not affect the Investment Decision. Self-control affects financial behavior. Self-Control affects Financial Attitudes. Self-Control has no effect on Investment Decisions. Financial Behavior has no effect on Investment Decisions. Financial Attitudes do not affect the Investment Decision.

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