PELATIHAN MANAJEMEN KEUANGAN UNTUK MENINGKATKAN LITERASI KEUANGAN BAGI CALON GURU UNIVERSITAS ABDURACHMAN SALEH SITUBONDO

This community service activity is carried out with the target students of the Abdurahman Saleh University Elementary School Teacher Education Study Program Situbondo. Partner problems that are a priority and need to be resolved through this PKM program are (1) the low level of financial literacy among students, (2) knowledge and understanding of the concept of assets and liabilities, (3) knowledge and understanding of the time value of money, and (4) knowledge and understanding of the concept of risk in finance. The solutions to be achieved include: (1) providing training on the concept of assets and liabilities, (2) providing training on the time value of money, (3) providing training on the concept of risk in finance. The expected outcomes of this PKM activity are (1) increased knowledge and understanding of the concept of assets and liabilities, (2) increased knowledge and understanding of the time value of money, (3) increased knowledge and understanding of the concept of risk in finance, (4) Able to make personal financial planning

Evaluating the Evolution of the Personal Financial Planning Industry: Mutualism, Commensalism, or Parasitism?

The financial planning and advice industry has been experiencing healthy growth for the past five years and is expected to accelerate this growth following the Covid-19 pandemic (IBISWorld, 2021). The pandemic has led to higher equity yields and appreciating asset value, directly increasing the total value of assets under management (AUM) held by financial planners and advisors. The industry in the US alone has surpassed $52.9 billion in 2021. As the economy is expected to improve, this figure is expected to follow suit. Not included in these figures are the explosion of online personal finance bloggers and influencers. Some YouTube and TikTok videos have raked in billions of views regarding personal finance (Smith, 2021). Many of these online contents have benefitted viewers and prompted them to start making good decisions regarding their personal wealth, spreading financial literacy to the masses. However, poor financial advice may be spread out as easily to viewers. The Wall Street Journal has reported on this issue back in 2005 where blogs and magazines have been found to give both good and bad advice on budgeting, saving, and overall personal finance management (Cullen, 2005). Whatever the net effect of this phenomenon, the easy access through social media has amplified it. This article briefly journeys through the evolution of personal finance management and personal financial planning, including the new trends this industry is moving towards. Subsequently, this article will look into the risk and rewards of the current personal financial planning and advice industry, including certified financial planners and uncertified personnel (social media influencers, financial gurus), as to whether consumers are benefitting as a whole, or otherwise. A disclaimer to this research is that the findings and opinions towards the industry do not encompass all the service providers in the business as there are many other influencing factors such as business models, individual agenda, and unique circumstances of each provider and consumer. Keywords: Conflict of interest; financial planning; financial experts; Influencers; Personal finance

Evaluating the Evolution of the Personal Financial Planning Industry: Mutualism, Commensalism, or Parasitism

Objective – The personal financial planning and advice industry has been a growing industry for the past years and will continue to experience growth as the general wealth of the public increases, along with the economic recovery post Covid-19. This industry includes registered investment advisors (RIA) which are licensed by a locally approved institution, and financial educators and influencers that do not require licensing by a regulatory body. Methodology – There are many benefits that these parties can bring towards the financial health of their clients and viewers such as having a thorough personal financial plan, investment strategies, and retirement planning. However, this industry has also received many negative feedbacks and experiences from clients regarding the general system of the industry or specific areas within the sector. One of the objectives of this article is to evaluate the evolution of the personal financial planning industry over the years, how it has transitioned from traditional methods into current industry standards, and where it might be heading in the coming years. Findings– The findings of the paper provide clarity and insight into the mature industry which can benefit current and potential consumers, promoting healthier industry development. Novelty – The next objective is to investigate the risk and rewards of the current personal financial planning and advice industry towards consumers. This paper will critically review the past literature and evaluate contemporary views from various perspectives to achieve the above objectives. Type of Paper: Review JEL Classification: G20 I22 Keywords: Conflicts of interest; Financial advice; Financial planning; Influencers; Personal finance

PENGARUH KEPRIBADIAN DAN PERBEDAAN GENDER TERHADAP PERENCANAAN KEUANGAN PRIBADI

This study wants to understand, test, and prove the impact of personality also gender differences on personal financial planning. This study implements the “quantitative approach”. The information’s collected in this study is using “primary data” that collected through questionnaire surveys directly. The sample in this research using “2016 UPN student Accounting department "Veteran" East Java”. Sample selection using the incidental sampling method. Data analysis uses “partial least square (PLS)” which uses “SmartPLS 3.2.9” for personality and gender hypothesis. The findings indicate that “personality variables” were having “significant effect” on “personal financial planning” while “gender variables” had “no significant effect” on “financial planning”.

Faktor yang Memengaruhi Personal Financial Planning pada Masyarakat Kota Kediri

Personal financial planning is essential to have for everyone to achieve their financial goals. This research focuses on the people of Kediri City because BPS data shows that the per capita income of Kediri City is the highest compared to other cities in East Java Province. This research aimed to determine the effect of self-esteem, financial literacy, income, and digital financial services on personal financial planning. This research uses the causality research method and 193 respondents as the sample with cluster sampling obtained from online and offline questionnaires. Data were analyzed using multiple linear regression and processed with SPSS. This research shows results that self-esteem and financial literacy variables have a positive effect on personal financial planning. While the variables income and digital financial services did not affect personal financial planning. The results of the research are expected to be used by the Government of Kediri City in preparing education for its people to have better personal financial planning.

Personal Financial Planning

Pelatihan ini bertujuan agar para santri di Yayasan Pondok Pesantren Yatim Al Hanif yang masih berusia remaja memahami pentingnya perencanaan keuangan untuk membantu para santri tersebut dalam mengatur keuangan saat ini atau di masa yang akan datang agar keuangannya bisa berjalan dengan baik. Dalam kegiatan ini metode yang dilakukan kepada para santri berupa pelatihan langsung dengan tatap muka di aula yang melibatkan para santri kelas 12 dan pendamping di yayasan tersebut, selanjutnya diskusi dan tanya jawab. Hasil kegiatan adalah bertambahnya keilmuan dan keterampilan para santri di Yayasan Pondok Pesantren Yatim Al Hanif, khususnya di bidang keuangan yaitu perencanaan keuangan yang akan menjadi bekal para santri dalam mengelola keuangan baik di masa saat ini atau di masa yang akan datang. Ilmu yang didapatkan pada kegiatan ini diharapkan mampu diterapkan dalam kehidupan sehari-hari baik untuk diri sendiri atau keluarga.Kata Kunci: Perencanaan Keuangan This training aims to make students at the Yatim Al Hanif Islamic Boarding School Foundation, who are still in their teens, undersrabd the importance of financial planning to help these students manage theiw finances now or in the future so that their finances can run well. In this activity, the method applied to the students was ni the form of direct training with face to face training in the hall involving 12th grade students and assistants at the foundation, then discussion and question and answer. The result of the activity is the increase in knowledge and skills of the students at the Yatim Al Hanif Islamic Boarding School Fundation, especially in the financial sector, namely financial planning that will provide the students with financial management in the present or in the future. The knowledge gained in this activity is expected to be able to be applied in everyday life for both yourself and your family.Keywords: Personal Financial Planning

From the Roots to the Present of Personal Financial Planning – Achievements on the 50th Anniversary of the Movement

The purpose of the article The aim of the article is to present the reasons for the emergence of personal and financial planning in the 1960s in the US, and then its quantitative and qualitative evolution around the world, taking into account institutional aspects. Methodology Review of the literature on the subject, legal acts and statistics of the financial advisory movement. Results of the research The study found that personal financial planning emerged from a grassroots initiative as a response to the needs of consumers and progressive representatives of the financial sector. Its territorial expansion beyond its homeland was associated with a growing awareness of the benefits of financial advisory services to households. Before the entire financial planning movement there is enormous growth potential.

Study of Financial Behaviors Micro Small Medium Enterprise in Bandung, Indonesia

This study has purpose to reveal financial literacy from micro small medium enterprise (MSME) entrepreneurs in Bandung, Indonesia. Divided by three locations, Bojongsoang, Sukajadi and other location in Bandung city. The purpose of this research is to convey MSME behavior of financial literate. Criteria of financial literate are person can understand and practice for financial management, saving/investing, insurance & estate planning, credit, shopping. The method for testing used in this paper build by O’Neill is through Financial Fitness Quiz (FFQ)The result from 276 participants Bojong Soang, Sukajadi and other locations In Bandung, have different results degree. The result for saving/investment, insurance and estate planning, credit, shopping dimension showed low score below 20 points. It has been proven that MSME entrepreneurs need personal financial planning training. This research has purpose for to increase financial literate and to improve positive financial behavior with education and apps program peSak Abdi.