Efek Financial Literacy dan Financial Management Behavior terhadap Financial Well-Being melalui Financial Self-Efficacy
Abstract
This study investigates the role of financial literacy, financial management behaviour, and financial self-efficacy in shaping the financial well-being of Muslim Generation Z in Kudus Regency. In this research, financial self-efficacy is examined as a mediating construct. The study employs a quantitative design supported by a survey approach, involving 200 purposively selected respondents. The collected data were analyzed using the Structural Equation Modeling–Partial Least Squares (SEM-PLS) technique through SmartPLS 4. The results indicate that financial literacy and financial management behaviour enhance both financial self-efficacy and financial well-being. Financial self-efficacy is also found to mediate part of the relationship between these variables and financial well-being. These findings stress the need to develop stronger financial practices and decision-making confidence among Muslim Gen Z. The study further recommends incorporating practical financial literacy into educational settings and suggests that future research broaden respondent diversity and integrate technological and socio-cultural perspectives to deepen insights into youth financial well-being.
Keywords: Financial Literacy; Financial Management Behaviour; Financial Self-Efficacy; Financial Well-Being; Muslim Generation Z.
Abstrak
Penelitian ini menelusuri peran literasi keuangan, perilaku pengelolaan keuangan, dan efikasi diri keuangan dalam membentuk kesejahteraan keuangan Generasi Z Muslim di Kabupaten Kudus, dengan efikasi diri keuangan diposisikan sebagai variabel mediasi. Studi ini menggunakan pendekatan kuantitatif melalui survei yang melibatkan 200 responden terpilih secara purposive. Data yang diperoleh kemudian dianalisis menggunakan metode Structural Equation Modeling–Partial Least Squares (SEM-PLS) melalui aplikasi SmartPLS 4. Temuan penelitian mengungkap bahwa literasi keuangan dan perilaku pengelolaan keuangan memberikan kontribusi positif terhadap efikasi diri keuangan dan kesejahteraan keuangan. Selain itu, efikasi diri keuangan berperan sebagai mediator parsial dalam hubungan antara variabel-variabel tersebut. Hasil ini menegaskan perlunya penguatan praktik keuangan dan kemampuan membuat keputusan finansial di kalangan Generasi Z Muslim. Penelitian ini juga merekomendasikan pengintegrasian literasi keuangan praktis pada ranah pendidikan serta menyarankan penelitian lanjutan dengan sampel lebih beragam dan mempertimbangkan aspek teknologi maupun budaya untuk memperkaya pemahaman mengenai kesejahteraan keuangan generasi muda.
Kata Kunci: Literasi Keuangan; Perilaku Pengelolaan Keuangan; Efikasi Diri Keuangan; Kesejahteraan Keuangan; Generasi Z Muslim.
Full Text:
PDF (Bahasa Indonesia)References
’Ulumudiniati, M., & Asandimitra, N. (2022). Pengaruh Financial Literacy, Financial Self-Efficacy, Locus of Control, Parental Income, Love of Money terhadap Financial Management Behavior: Lifestyle sebagai Mediasi. Jurnal Ilmu Manajemen, 10(1), 51–67. https://doi.org/10.26740/jim.v10n1.p51-67
Ahmad, A., Butt, B. S., . M., & Iram, S. (2019). Drivers Influencing Financial Behavior among Management Students in Narowal. International Journal of Academic Research in Business and Social Sciences, 9(2), 656–666. https://doi.org/10.6007/ijarbss/v9-i2/5602
Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211. https://doi.org/10.1016/0749-5978(91)90020-T
Ali, M. H., & Rusmana, D. (2021). Konsep Mubazir dalam Al-Qur’an: Studi Tafsir Maudhu’i. Jurnal Riset Agama, 1(3), 11–29. https://doi.org/10.15575/jra.v1i3.15065
Ali, S., & Talha, N. (2022). During COVID-19, impact of subjective and objective financial knowledge and economic insecurity on financial management behavior: Mediating role of financial wellbeing. Journal of Public Affairs, 22(S1). https://doi.org/10.1002/pa.2789
Bandura, A. (1997). Self-efficacy: The exercise of control. New York: W. H. Freeman.
Chen, H., & Volpe, R. P. (1998). An Analysis of Personal Financial Literacy Among College Students. Financial Services Review, 7(2), 107–128. https://doi.org/10.1016/s1057-0810(99)80006-7
Darmawan, A. D. (2024). 21,99% Penduduk Kabupaten Kudus Masih Anak-Anak (Update 2024). Databoks. https://databoks.katadata.co.id/demografi/statistik/d6eec51a3d8b3d3/21-99-penduduk-kabupaten-kudus-masih-anak-anak-update-2024-
Darwin, M., & Umam, K. (2020). Analisis Indirect Effect pada Structural Equation Modeling. Nucleus, 1(2), 50–57. https://doi.org/10.37010/nuc.v1i2.160
Dharmmesta, B. S. (1998). Theory Of Planned Behaviour Dalam Penelitian Sikap, Niat Dan Perilaku Konsumen.
Farrell, L., Fry, T. R. L., & Risse, L. (2016). The significance of financial self-efficacy in explaining women’s personal finance behaviour. Journal of Economic Psychology, 54, 85–99. https://doi.org/10.1016/j.joep.2015.07.001
Faturohman, T., Megananda, T. B., & Ginting, H. (2024). Improving financial wellbeing in Indonesia: the role of social media as a mediating factor in financial behavior. Cogent Social Sciences, 10(1). https://doi.org/10.1080/23311886.2024.2319374
Fauzi, M. C., Hasan, A., & Lutfi, mohammad. (2024). Peran Literasi keuangan, Promosi, dan Religiusitas terhadap minat generasi Z pada Bank Syariah di Kabupaten Kudus. 4(1), 41–54. https://doi.org/10.55252/annawawi.v4i1.45
Ghozali, I., & Kusumadewi, K. A. (2023). Partial Least Souares Konsep Teknik Dan-Aplikasi Menggunakan Program SmartPLS 4 0- Untuk Penelitian Empiris. Penerbit Yoga Pratama.
Huston, S. J. (2010). Measuring Financial Literacy. Journal of Consumer Affairs, 44(2), 296–316. https://doi.org/10.1111/j.1745-6606.2010.01170.x
Juliandi, A., Irfan, & Manurung, S. (2014). Metodologi Penelitian Bisnis, Konsep dan Aplikasi: Sukses Menulis Skripsi & Tesis Mandiri. UMSU PRESS. https://play.google.com/books/reader?id=0X-rBAAAQBAJ&pg=GBS.PR3&hl=en
Katadata Insight Center (KIC). (2021). Survei Perilaku Keuangan Generasi Z. Katadata Insight Center (KIC). https://kic.katadata.co.id/insights/33/survei-perilaku-keuangan-generasi-z
Liu, L., & Zhang, H. (2021). Financial literacy, self-efficacy and risky credit behavior among college students: Evidence from online consumer credit. Journal of Behavioral and Experimental Finance, 32, 100569. https://doi.org/10.1016/j.jbef.2021.100569
Lone, U. M., & Bhat, S. A. (2024). Impact of financial literacy on financial well-being: a mediational role of financial self-efficacy. Journal of Financial Services Marketing, 29(1), 126. https://doi.org/10.1057/s41264-022-00183-8
Lown, J. M. (2011). 2011 oustanding AFCPE® Conference paper: Development and validation of a Financial Self-Efficacy Scale. Journal of Financial Counseling and Planning, 22(2), 54–63.
Lusardi, A., & Mitchell, O. S. (2013). The Economic Importance of Financial Literacy : Theory and Evidence The Economic Importance of Financial Literacy : Theory and Evidence.
Margasari, N., Andhini, M. M., & Bandara, R. A. S. (2024). Student Financial Well-being: Personal Factors and Financial Behavior as Antecedents of Financial Well-being. Jurnal Economia, 20(2), 313–327.
Muslichah, M., Putra, Y. H. S., Abdullah, R., & Usry, A. K. (2023). Islamic Financial Literacy and Financial Inclusion: Examining the Intervening Role of Financial Self-Efficacy. International Journal of Islamic Economics and Finance (IJIEF), 6(2), 181–200. https://doi.org/10.18196/ijief.v6i2.16384
Nabil, N., & Dwiridotjahjono, J. (2024). Al-Kharaj : Jurnal Ekonomi , Keuangan & Bisnis Syariah Al-Kharaj : Jurnal Ekonomi , Keuangan & Bisnis Syariah. Al-Kharaj : Jurnal Ekonomi , Keuangan & Bisnis Syariah, 6(2), 2547–2562. https://doi.org/10.47467/alkharaj.v6i12.4585
Obenza, B. N., Cuaresma, N. B. G., Carandang, Y. G. D., Dalugdug, L. J. S., Resus, K. S. M., Jumamoy, B. C. A., Mamon, P. A. T., & Chi, K. C. Y. (2024). The Mediating Effect of Financial Self-Efficacy on Financial Behavior and Financial Well-Being of College Students in Region XI. American Journal of Economics and Business Innovation, 3(1), 21–30. https://doi.org/10.54536/ajebi.v3i1.2313
Obenza, B., Sandico, A. V, Solis, A. J., Alaba, J. M., & ... (2023). Financial Management Behavior and Financial Well-Being of DepEd Teachers as Mediated by Financial Self-Efficacy. British International Journal of Applied Economics, Finance and Accounting, 7(6), 21. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4733772%0Ahttps://aspjournals.org/Journals/index.php/bijaefa/article/download/524/590
Otoritas Jasa Keuangan (OJK). (2016). Salinan Peraturan Otoritas Jasa Keuangan, Nomor 76/SEOJK.07/2016 tentang Peningkatan Literasi dan Inklusi Keuangan Keuangan di Sektor Jasa Keuangan bagi Konsumen dan/atau Masyarakat. https://www.ojk.go.id/id/kanal/edukasi-dan-perlindungan-konsumen/regulasi/peraturan-ojk/Pages/POJK-tentang-Peningkatan-Literasi-dan-Inklusi-Keuangan-di-Sektor-Jasa-Keuangan-Bagi-Konsumen-dan-atau-masyarakat.aspx
Otoritas Jasa Keuangan (OJK). (2024). Survei Nasional Literasi dan Inklusi Keuangan (SNLIK) 2024. Otoritas Jasa Keuangan (OJK). https://www.ojk.go.id/id/berita-dan-kegiatan/publikasi/Pages/Survei-Nasional-Literasi-dan-Inklusi-Keuangan-(SNLIK)-2024.aspx
Patrisia, D., & Abror, A. (2022). Literasi Keuangan Syariah Pada Generasi Z: Peran Keluarga Dan Religiusitas. Jurnal Kajian Manajemen Bisnis, 1(2), 1–15. https://doi.org/10.24036/jkmb.11687000
Prasetya, B. P., & Kurniyati, N. N. (2022). The Role of Financial Behavior in Mediation the Influence of Financial Literacy and Financial Self Efficacy on Financial Will Being. International Journal of Economics and Management Research, 1(3), 166–176. https://ijemr.politeknikpratama.ac.id/index.php/ijemr
Putra, M., Anggraini, R., & Maulita, A. (2023). The Effect of Quality Financial Learning and Financial Literacy on The Financial Self-Efficacy of D4 Managerial Accounting and Business Administration Students at Politeknik Negeri Batam. https://doi.org/10.4108/eai.7-11-2023.2342391
Rahman, M., Isa, C. R., Masud, M. M., Sarker, M., & Chowdhury, N. T. (2021). The role of financial behaviour, financial literacy, and financial stress in explaining the financial well-being of B40 group in Malaysia. Future Business Journal, 7(1), 1–18. https://doi.org/10.1186/s43093-021-00099-0
Rahmawati, U., & Marcella, E. (2023). Locus of Control, Financial Knowledge, Financial Attitude, Financial Self-Efficacy, and Social Economic Status as Antecedents of Financial Management Behavior. Journal of Management and Business Insight, 1(1), 66–76. https://doi.org/10.12928/jombi.v1i1.561
Sarstedt, M., Ringle, C. M., & Hair, J. F. (2021). Partial Least Squares Structural Equation Modeling. In Handbook of Market Research (Issue July). https://doi.org/10.1007/978-3-319-57413-4_15
Shim, S., Barber, B. L., Card, N. A., Xiao, J. J., & Serido, J. (2010). Financial Socialization of First-year College Students: The Roles of Parents, Work, and Education. Journal of Youth and Adolescence, 39(12), 1457–1470. https://doi.org/10.1007/s10964-009-9432-x
Suryanto. (2017). Pola Perilaku Keuangan Mahasiswa Di Perguruan Tinggi. Jurnal Ilmu Politik Dan Komunikasi, 7(1), 11–20.
Suwatno, S., Waspada, I. P., & Mulyani, H. (2020). Meningkatkan Perilaku Pengelolaan Keuangan Mahasiswa Melalui Financial Literacy dan Financial Sel Efficacy. Jurnal Pendidikan Akuntansi & Keuangan, 8(1), 87–96. https://doi.org/10.17509/jpak.v8i1.21938
Suyanto, Setiawan, D., Rahmawati, & Winarna, J. (2021). Effects of Indonesian Students’ Financial Literacy on Financial Behavior. Proceedings of the Sixth Padang International Conference On Economics Education, Economics, Business and Management, Accounting and Entrepreneurship (PICEEBA 2020), 179(Piceeba 2020), 553–558. https://doi.org/10.2991/aebmr.k.210616.086
Widodo, L. (2024). UMK 2025 di Pati Raya, Kudus Tetap Tertinggi, Rembang Masih Terendah. INews Muria. https://muria.inews.id/read/534552/umk-2025-di-pati-raya-kudus-tetap-tertinggi-rembang-masih-terendah
DOI: http://dx.doi.org/10.21043/jebisku.v3i4.5431
Refbacks
- There are currently no refbacks.
Jurnal Ekonomi dan Bisnis Islam
E-mail: jebisku@uinsuku.ac.id
Jurnal Ekonomi dan Bisnis Islam by Faculty of Islamic Economics and Business, State Islamic Institute (IAIN) of Kudus, Kudus, Indonesia is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.