Mastering Money: Building Competency in Personal Finance
Abstract
This research examines the relationships between education level, income level, financial behavior, and financial literacy among customers of BNI Pontianak. Findings indicate that education level significantly influences financial behavior and financial literacy, with customers having higher education levels tending to exhibit better financial behaviors and higher levels of financial literacy. Conversely, income level does not significantly affect financial behavior or financial literacy. Furthermore, financial behavior significantly impacts financial literacy, indicating a reciprocal relationship between the two. These findings underscore the importance of education and financial behavior in enhancing customer financial literacy, emphasizing the need for tailored strategies to improve financial understanding and practices for overall financial well-being.
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[3] J. Yang, Y. Wu, and B. Huang, “Digital finance and financial literacy: Evidence from Chinese households,” J. Bank. Financ., vol. 156, no. September, 2023, doi: 10.1016/j.jbankfin.2023.107005.
[4] A. Lusardi and F.-A. Messy, “The importance of financial literacy and its impact on financial wellbeing,” J. Financ. Lit. Wellbeing, vol. 1, no. 1, pp. 1–11, 2023, doi: 10.1017/flw.2023.8.
[5] M. Imran and N. Almusharraf, “Analyzing the role of ChatGPT as a writing assistant at higher education level: A systematic review of the literature,” Contemp. Educ. Technol., vol. 15, no. 4, 2023, doi: 10.30935/cedtech/13605.
[6] L. Tuhuteru, D. Misnawati, A. Aslan, Z. Taufiqoh, and I. Imelda, “The Effectiveness of Multimedia-Based Learning To Accelerate Learning After The Pandemic At The Basic Education Level,” Tafkir Interdiscip. J. Islam. Educ., vol. 4, no. 1, pp. 128–141, 2023, doi: 10.31538/tijie.v4i1.311.
[7] W. C. H. Hong, C. Y. Chi, J. Liu, Y. F. Zhang, V. N. L. Lei, and X. S. Xu, The influence of social education level on cybersecurity awareness and behaviour: a comparative study of university students and working graduates, vol. 28, no. 1. Springer US, 2023. doi: 10.1007/s10639-022-11121-5.
[8] E. Humer, A. Jesser, P. L. Plener, T. Probst, and C. Pieh, “Education level and COVID-19 vaccination willingness in adolescents,” Eur. Child Adolesc. Psychiatry, vol. 32, no. 3, pp. 537–539, 2023, doi: 10.1007/s00787-021-01878-4.
[9] M. Rosselli, I. V. Uribe, E. Ahne, and L. Shihadeh, “Culture, Ethnicity, and Level of Education in Alzheimer’s Disease,” Neurotherapeutics, vol. 19, no. 1, pp. 26–54, 2022, doi: 10.1007/s13311-022-01193-z.
[10] C. Shen and X. Zhao, “How does income inequality affects economic growth at different income levels?,” Econ. Res. Istraz. , vol. 36, no. 1, pp. 864–884, 2023, doi: 10.1080/1331677X.2022.2080742.
[11] N. N. Magano, H. Tuorila, and H. L. De Kock, “Food choice drivers at varying income levels in an emerging economy,” Appetite, vol. 189, no. March, p. 107001, 2023, doi: 10.1016/j.appet.2023.107001.
[12] D. K. Booth, “South Korea,” English Lang. Educ., vol. 12, pp. 7–17, 2018, doi: 10.1007/978-3-319-70446-3_2.
[13] Z. He, Y. Zhou, J. Wang, W. Shen, W. Li, and W. Lu, “Influence of emotion on purchase intention of electric vehicles: a comparative study of consumers with different income levels,” Curr. Psychol., vol. 42, no. 25, pp. 21704–21719, 2023, doi: 10.1007/s12144-022-03253-1.
[14] A. H. H. Al-Ali, A. A. Flaifel, and H. M. K. Al_Duhaidahawi, “A Financial Behavior Measurement Model to Evaluate the Financial Markets,” Int. J. Prof. Bus. Rev., vol. 8, no. 5, p. e01417, 2023, doi: 10.26668/businessreview/2023.v8i5.1417.
[15] V. Dzokoto, N. Hagiwara, and F. Belgrave, “Exploring Gender-and Race-Based Financial Stereotypes in Black and White College Students,” J. Financ. Couns. Plan., vol. 34, no. 1, pp. 32–41, 2023, doi: 10.1891/JFCP-2021-0020.
[16] A. Amrullah, S. H. Utomo, U. N. Malang, and F. Inclusion, “Financial Literacy Level Of Gojek Drivers In Malang City Online Loans User As An Effort To Improve Welfare,” Int. J. Educ. Lang. Lit. Arts, Cult. Soc. Humanit., vol. 1, no. 1, pp. 1–13, 2023.
[17] 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.
[18] I. G. Adiputra, “The Influence of Financial Literacy, Financial Attitude and Locus of Control on Financial Satisfaction: Evidence From the Community in Jakarta,” KnE Soc. Sci., vol. 2021, pp. 636–654, 2021, doi: 10.18502/kss.v5i5.8848.
[19] P. Kumar, R. Pillai, N. Kumar, and M. I. Tabash, “The interplay of skills, digital financial literacy, capability, and autonomy in financial decision making and well-being,” Borsa Istanbul Rev., vol. 23, no. 1, pp. 169–183, 2023, doi: 10.1016/j.bir.2022.09.012.
[20] N. A. Abd Aziz, S. Samrin, and K. Abdul Aziz, “Factors Influencing Customer Satisfaction: a Study on Quick Service Restaurant in Sabak Bernam, Selangor,” J. Technol. Oper. Manag., vol. 18, no. 1, pp. 12–24, 2023, doi: 10.32890/jtom2023.18.1.2.
Published
2024-04-07
Section
Articles
Copyright (c) 2024 Dwi Budi Srisulistiowati, Dovina Navanti Navanti, Ahdi Mualim Mualim, Sri Rejeki Rejeki
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
