Money Mastery: Elevating Your Financial Competence in a Fast-paced World
Keywords:
Financial Education, Financial Technology Utilization, Financial Behavior, Financial Competence
Abstract
This research investigates the intricate relationships between financial education, technology utilization, financial behavior, and financial competence among customers of Bank BCA Tembalang. Utilizing a quantitative research design and employing random sampling, data was collected from 70 bank customers. Path analysis using SmartPLS was conducted to examine direct and indirect effects. The results reveal significant direct effects of financial education and technology utilization on financial competence, as well as significant indirect effects through financial behavior. Financial education emerges as a key driver in shaping positive financial behaviors and enhancing financial competence, while the utilization of financial technology also plays a significant role. These findings underscore the importance of targeted educational initiatives and the adoption of digital financial tools in promoting financial literacy and empowering individuals to make informed financial decisions. Ultimately, this research contributes to the advancement of strategies aimed at improving financial well-being and service efficiency within the banking sector.
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[2] C. D. Engineer, C. Improve, and Q. Way, “Ensuring Quality in a Fast-Paced Engineering World,” Thesis, 2023.
[3] A. K. Khadka, “Assessing the Influence of Financial Literacy and Economic Independence on Investment Decisions,” Nepal J. Multidiscip. Res., vol. 6, no. 4, pp. 161–173, 2023, doi: 10.3126/njmr.v6i4.62040.
[4] B. Sarangi, “Cashless Economy and Electronic Money: Concepts, Nexus, Opportunities, and Challenges,” Indones. Annu. Conf. Ser., vol. 2, pp. 79–90, 2023.
[5] S. U. Rahman, S. S. Chen, M. A. S. Al-Faryan, I. Ahmad, R. Y. Hussain, and S. Saud, “Audit services and financial reporting quality: The role of accounting expertise auditors,” Cogent Bus. Manag., vol. 10, no. 1, 2023, doi: 10.1080/23311975.2022.2164142.
[6] Pandji Sukmana and Azis Hakim, “The Influence of Work Quality and Employee Competence on Human Resources Professionalism at the Ministry of Defense Planning and Finance Bureau,” Int. J. Soc. Sci. Bus., vol. 7, no. 1, pp. 233–242, 2023, doi: 10.23887/ijssb.v7i1.58202.
[7] M. Miran and O. Sumampouw, “Superior College Applied Research Competence of SPI Members in the Context of Improving the Quality of Supervisory Performance at Manado State University,” APTISI Trans. Technopreneursh., vol. 5, no. 1, pp. 73–86, 2023, doi: 10.34306/att.v5i1.293.
[8] D. Djubaedi, T. Rohadi, and Y. Kodama, “Core Entrepreneurial Competencies for Local Content Curriculum,” Int. J. Educ. Qual. Quant. Res., vol. 2, no. 1, pp. 12–17, 2023, doi: 10.58418/ijeqqr.v2i1.38.
[9] Y. Zhang, X. Lu, and J. J. Xiao, “Can financial education improve consumer welfare in investment markets? Evidence from China,” J. Asia Pacific Econ., vol. 28, no. 3, pp. 1286–1312, 2023, doi: 10.1080/13547860.2021.1933694.
[10] U. Yazar, M. Hayta, and M. Özdemir, “an Application To Determine the Relationship Between Accounting and Finance Education and Tax Ethics and Awareness,” Giresun Univ. J. Econ. Adm. Sci., vol. 9, no. 1, pp. 127–149, 2023, doi: 10.46849/guiibd.1247237.
[11] R. A. King’wara, “Financial Literacy among Kenyan Undergraduate Students,” IOSR J. Bus. Manag., vol. 16, no. 10, pp. 60–69, 2020, doi: 10.9790/487x-161026069.
[12] J. Tia, N. Kuunibe, and P. K. Nkegbe, “Drivers of financial inclusion in Ghana: Evidence from microentrepreneurs in the Wa Municipality of the Upper West Region,” Cogent Econ. Financ., vol. 11, no. 2, 2023, doi: 10.1080/23322039.2023.2267854.
[13] D. K. Nguyen, G. Sermpinis, and C. Stasinakis, “Big data, artificial intelligence and machine learning: A transformative symbiosis in favour of financial technology,” Eur. Financ. Manag., vol. 29, no. 2, pp. 517–548, 2023, doi: 10.1111/eufm.12365.
[14] A. H. Hadi, M. N. Ali, G. A. K. Al-shiblawi, H. H. Flayyih, and H. R. Talab, “the Effects of Information Technology Adoption on the Financial Reporting: Moderating Role of Audit Risk,” Int. J. Econ. Financ. Stud., vol. 15, no. 1, pp. 47–63, 2023, doi: 10.34109/ijefs.202315104.
[15] D. Alade and E. Jayeoba, “AWARENESS And Utilization Of Digital And Emerging New Technological Skills Among The Workforce In Anambra State, Nigeria For A Sustainable Employment,” No. 2000, Pp. 1–8, 2020.
[16] Y. Dianti, “The Mediating Effect Of Financial Efficacy On Financial Knowledge And Behaviour Among South African Consumers Xolile,” Angew. Chemie Int. Ed. 6(11), 951–952., vol. 8055, pp. 5–24, 2020, doi: 10.34109/ijefs.
[17] H. B. Qadoos, “Investigating Financial Inclusion and Saving behavior: Case of BISP Beneficiaries,” PIDE Sch. Econ. Pakistan, 2022.
[18] D. Rahmayanti, “The Effect of Internal Locus of Control and Spiritual Intelligence on Personal Financial Management Behavior,” Integr. J. Bus. Econ., vol. 7, no. 1, p. 340, 2023, doi: 10.33019/ijbe.v7i1.596.
[19] J. Wu, K. Lin, D. Lin, Z. Zheng, H. Huang, and Z. Zheng, “Financial Crimes in Web3-Empowered Metaverse: Taxonomy, Countermeasures, and Opportunities,” IEEE Open J. Comput. Soc., vol. 4, no. February, pp. 37–49, 2023, doi: 10.1109/OJCS.2023.3245801.
[20] M. Feralda, A. Hasan Hafidzi, and I. P. Samsuryaningrum, “The Influence of Financial Attitude, Self Control, and Hedonism Style on Financial Management Behavior of Student Shopee Paylater Users in Jember District,” Budapest Int. Res. Critics Institute-Journal, vol. 6, no. 2, pp. 1169–1182, 2023, [Online]. Available: https://doi.org/10.33258/birci.v6i2.7606
[21] F. Komalasari and R. Zikri Mulyadi, “the Influence of Financial Literacy, Financial Attitude and Peer Influence Toward Retirement Saving Behavior Moderated By Gender: a Case in Indonesia,” J. Econ. Empower. Strateg., vol. 06, no. Vol 6 No 1, pp. 27–40, 2023, doi: 10.23969/jees.v6i1.6484.
[22] A. Sunarya and I. Mauludina, “The Influence of Implementing Government Accounting Standards , Government Internal Control Systems , Utilization of Information Technology and Apparatus Competence on the Quality of West Java Provincial Government Financial Reports,” Int. J. Soc. Sci. Bus., vol. 8, no. 1, pp. 198–207, 2024.
[23] E. S. Wahyuni, H. Aspan, and P. Mauliza, “Financial Analysis Of Entrepreneurship Education,” Int. J. Econ. sand Manag. Res., vol. 2, no. 2, 2023, [Online]. Available: https://doi.org/10.55606/ijemr.v2i2.119
[24] A. Lusardi and O. S. Mitchell, “The Importance of Financial Literacy: Opening a New Field,” J. Econ. Perspect., vol. 37, no. 4, pp. 137–154, 2023, doi: 10.1257/jep.37.4.137.
Published
2024-05-21
Section
Articles
Copyright (c) 2024 Linda Ayu Oktoriza, Amimah Qodari, Vera Sari
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
