Does self-control moderate financial literacy and savings behavior relationship? A case of micro and small enterprise owners

2021 ◽  
Author(s):  
Eva Mpaata ◽  
Naomy Koske ◽  
Ernest Saina
Keyword(s):  
Financial Literacy ◽  
Self Control ◽  
Small Enterprise ◽  
Savings Behavior

scholarly journals Faktor-Faktor Yang Memengaruhi Perilaku Menabung Di Kalangan Mahasiswa

2016 ◽  
Vol 18 (1) ◽  
pp. 27
Author(s):  
Hani Sirine ◽  
Dwi Setiyani Utami
Keyword(s):  
Economic Growth ◽  
Financial Literacy ◽  
Academic Community ◽  
Self Control ◽  
Savings Behavior ◽  
Christian University ◽  
Financial Products ◽  
Central Java ◽  
Positive Effect ◽  
Central Java Province

<p align="center"><em>High</em><em> growth rate of savings will increase the rate of investment in Indonesia and encourage the economic growth of a nation.</em> <em>But according to the</em><em> survey conducted by Otoritas Jasa Keuangan (OJK), people is still have a low understanding of the use of financial products including savings. It is also shown on the position of the savings that experienced declining growth from 2009-2013, especially in Central Java Province</em>. <em>Students as</em><em> the academic community are expected to have a good understanding on the choice of investment and consumption so that</em> <em>students can</em><em> contribute to the economic growth of Indonesia. Several of previous studies showed that financial literacy, socialization of parents, peers influence, and self-control have a significant positive effect on student savings behavior. The purpose of this study is going to reexamine the results of previous studies with a sample of 221 students of FEB in Satya Wacana Christian University. The results showed that financial literacy, socialization of parents, peers influence, and self-control simultaneously have a significant effect on savings behavior. Partially, financial literacy, socialization of parents, and self-control have a positive significant effect on savings behavior of students, but peers influence have no significant effect.</em></p><p><em><br /></em></p><p align="center"><strong>Abstrak</strong></p><p align="center"><strong> </strong></p><p>Tingkat pertumbuhan tabungan yang tinggi akan meningkatkan laju investasi di Indonesia dan mendorong pertumbuhan ekonomi suatu bangsa. Survei yang dilakukan oleh Otoritas Jasa Keuangan (OJK), menunjukkan orang masih memiliki pemahaman yang rendah mengenai penggunaan produk keuangan termasuk tabungan. Hal ini juga ditunjukkan oleh posisi tabungan yang mengalami pertumbuhan menurun dari 2009-2013, terutama di Provinsi Jawa Tengah. Mahasiswa sebagai civitas akademika diharapkan memiliki pemahaman yang baik pada pilihan investasi dan konsumsi sehingga mahasiswa dapat berkontribusi terhadap pertumbuhan ekonomi Indonesia. Beberapa penelitian sebelumnya menunjukkan bahwa melek finansial, sosialisasi orang tua, pengaruh rekan-rekan, dan kontrol diri memiliki efek positif yang signifikan terhadap perilaku tabungan mahasiswa. Tujuan dari penelitian ini adalah menguji kembali hasil penelitian sebelumnya dengan menggunakan sampel sebanyak 221 mahasiswa FEB Universitas Kristen Satya Wacana. Hasil penelitian menunjukkan bahwa melek finansial, sosialisasi dari orang tua, pengaruh rekan-rekan, dan kontrol diri secara bersamaan memiliki pengaruh yang signifikan terhadap perilaku tabungan. Secara parsial, melek finansial, sosialisasi dari orang tua, dan kontrol diri memiliki pengaruh yang signifikan positif terhadap perilaku tabungan mahasiswa, tetapi pengaruh rekan-rekan tidak berpengaruh secara signifikan.</p><p><em><br /></em></p>

Struggling to make ends meet: can consumer financial behaviors improve?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Lisa K. Meneau ◽  
Janakiraman Moorthy
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Group Analysis ◽  
Self Control ◽  
Thinking Styles ◽  
Financial Health ◽  
Content Type ◽  
Financial Behaviors ◽  
Financial Products ◽  
The Impact

PurposeThe purpose of the study is to examine the following two research objectives. The first was to examine the predictive relationships that consumer characteristics of financial literacy, thinking styles and self-control have with a consumer's financial behaviors. The second goal was to ascertain financial management products' ability to aid those consumers who need it the most by weakening the predictive effects of consumer traits on financial behaviors.Design/methodology/approachThe study employed a web-based survey to gather information. The measurement and structural models were analyzed using generalized structured component analysis (GSCA), a component-based structural equation model. The mediation effect of self-control is assessed using the GSCA. The conditional mediation of demographic variables and use of personal financial management products are evaluated using multi-group analysis (MGA) in GSCA.FindingsAntecedents, financial literacy, thinking styles and self-control consumer characteristics are predictors of financial behaviors. However, self-control plays a more prominent role as a mediator between the other variables, strengthening the overall relationship. Also, financial products can have a beneficial moderation effect assisting those consumers who need them the most.Practical implicationsThese insights help in creating target specific financial literacy strategies to influence consumers' financial behaviors. Also, there is a need to develop mechanisms to influence a consumer's self-control and thinking styles to improve financial behavior. In conjunction with other initiatives, the impact of financial literacy has a greater effect on financial behaviors. Further, the insights assist financial institutions and financial technology firms in offering and creating products to help customers make better financial decisions and improve their financial behaviors.Social implicationsThe research addressed a significant global issue – consumer financial health. The Great Recession and the COVID-19 recession highlight the need to focus on the consumer and efforts to improve their financial health.Originality/valueThis research highlighted the mediating role of self-control and suggested that existing and future financial products can positively influence consumer behavior drivers.

scholarly journals Savings Behavior of Government Salaried People in Unakoti District of Tripura

2021 ◽  
Vol 9 (1) ◽  
pp. 26-37
Author(s):  
Sukharanjan Debnath
Keyword(s):  
Rural Areas ◽  
Financial Literacy ◽  
Secondary Data ◽  
Primary Data ◽  
Dependency Ratio ◽  
Government Employees ◽  
Savings Behavior ◽  
Daily Rate ◽  
Savings Rate ◽  
The Government

As per rules, the Savings practice of Government salaried people is mandatory up to a stipulated amount of monthly salary. According to GPF, EPF and NPS Rules, a predetermined amount is deducted by the employer at source for the future wellbeing of the concerned employee and invest to GPF, EPF, NPS, etc. In addition to these mandatory savings, employees can save their money to other savings instruments according to their capability and other conditions. As most of the government employees in Unakoti district of Tripura are working with small designations and salaries, they are not able to save more in addition to mandatory savings. Fixed Pay Employee (FPE), Contract Base Worker (CBW), Per Time Worker (PTW), Monthly Pay Worker (MPW), Daily Rate Worker (DRW) are the working conditions where employees get less amount of salary in comparison to regular employees. Under these conditions, their savings rate is also low in comparison to other employees. Other Sources of income, spouse job, dependency ratio, age, literacy level, educational qualification and availability of savings instruments nearby employees are an important aspect for better understanding of savings improvement in the District. The present study entitled “Savings behavior of Government Salaried People in Unakoti District of Tripura” is an empirical study based on primary data and secondary data. The study reveals that the savings rate of salaried people in Unakoti District of Tripura is growing slowly. Financial literacy, reduction of dependency ratio by employment generation programs, Massive awareness program and availability of savings instruments in the rural areas may make a vigorous savings environment in Unakoti District of Tripura.

scholarly journals The Influence of Financial Literacy, Lifestyle and Self-Control on the Consumption Behavior of Economic Education Student

2021 ◽  
Vol 8 (8) ◽  
pp. 496-503
Author(s):  
Ririn Eka Fariana ◽  
Bayu Surindra ◽  
Zainal Arifin
Keyword(s):  
Financial Literacy ◽  
Sampling Technique ◽  
Economic Education ◽  
Self Control ◽  
Research Approach ◽  
Education Student ◽  
Sample Collection ◽  
Descriptive Research ◽  
Consumptive Behavior ◽  
Positive Effect

The purpose of this study was to determine financial literacy and lifestyle as well as self-control on the consumptive behavior of Economic Education students at UNP Kediri. This research approach used a quantitative approach as well as descriptive research techniques and multiple linear regressions. The sample collection used was a purposive sampling technique totaling 46 students. The results of this study indicated that financial literacy had a positive effect and had a significant value on student consumptive behavior, this can be seen in the value of Sig 0.027 <0.05. This lifestyle had a positive effect and had a significant value on the consumptive behavior of students, this could be seen in the value of Sig 0.038 <0.05. Self-control had a positive effect and had a significant value also on the consumptive behavior of students, this could be seen in the value of Sig 0.002 <0.05. Financial literacy, lifestyle and self-control had a significant and significant effect on the consumptive behavior of students, this could be seen in the value of Sig 0.000 <0.05. Keywords: Financial Literacy, Lifestyle, Self Control, Consumptive Behavior.

scholarly journals Pengaruh Life Style, Self Control Dan Financial Literacy Terhadap Perilaku Konsumtif Mahasiswa Melakukan Online Shopping

2020 ◽  
Vol 16 (1) ◽  
pp. 29
Author(s):  
Ratih Dewi Titisari Haryana
Keyword(s):  
Social Media ◽  
Consumer Behavior ◽  
Financial Literacy ◽  
Life Style ◽  
Online Shopping ◽  
Sampling Technique ◽  
Self Control ◽  
Sample Data ◽  
Convenience Sampling ◽  
Consumptive Behavior

The development of technology is related to people's behavior in Indonesia. Indonesian people, especially the younger generation, are very fond of social media. Besides used to communicate, send emails, social media is also used to online shopping. This is evidenced by the growing number of marketplaces in Indonesia such as Bukalapak, Tokopedia, Shoppee, Lazada and the others. This study aims to determine the effect of life style, self control and financial literacy on consumptive behavior in online shopping. This research is a quantitative study using explanatory design. The sample used was FEB students in East Surabaya. Sample data that can be used are 102 respondents. The sampling technique uses convenience sampling. Data collection using questionnaire distribution techniques using multiple linear regression data analysis techniques. The results showed that life style had a positive and significant effect on consumer behavior in doing online shopping. While self control and financial literacy variables negatively and significantly affect consumer behavior in doing online shopping.

scholarly journals Annuitization Puzzles

2011 ◽  
Vol 25 (4) ◽  
pp. 143-164 ◽  
Author(s):  
Shlomo Benartzi ◽  
Alessandro Previtero ◽  
Richard H Thaler
Keyword(s):  
Rational Choice Theory ◽  
Choice Theory ◽  
Self Control ◽  
Institutional Factors ◽  
Control Problems ◽  
Substantial Portion ◽  
Savings Behavior ◽  
Retirement Saving ◽  
Over Time ◽  
Acceptance Speech

In his Nobel Prize acceptance speech given in 1985, Franco Modigliani drew attention to the “annuitization puzzle”: that annuity contracts, other than pensions through group insurance, are extremely rare. Rational choice theory predicts that households will find annuities attractive at the onset of retirement because they address the risk of outliving one's income, but in fact, relatively few of those facing retirement choose to annuitize a substantial portion of their wealth. There is now a substantial literature on the behavioral economics of retirement saving, which has stressed that both behavioral and institutional factors play an important role in determining a household's saving accumulations. Self-control problems, inertia, and a lack of financial sophistication inhibit some households from providing an adequate retirement nest egg. However, interventions such as automatic enrollment and automatic escalation of saving over time as wages rise (the “save more tomorrow” plan) have shown success in overcoming these obstacles. We will show that the same behavioral and institutional factors that help explain savings behavior are also important in understanding 1) how families handle the process of decumulation once retirement commences and 2) why there seems to be so little demand to annuitize wealth at retirement.

scholarly journals Multi Criteria Analysis for Selecting Sharia Capital Market Management Investment Using ANP

2021 ◽  
Vol 12 (2) ◽  
pp. 93
Author(s):  
Hamzah Abdul Karim Prasetyo ◽  
Hendri Tanjung ◽  
Abrista Devi
Keyword(s):  
Capital Market ◽  
Financial Literacy ◽  
Financial Risk ◽  
Self Control ◽  
Performance Criteria ◽  
Control Individual ◽  
Investment Performance ◽  
Macroeconomic Factors ◽  
Market Criteria ◽  
The Capital Market

<div><p class="1eAbstract-text"><em>The society orientation has shifted from a saving-oriented society to an investing-oriented society. Currently, investors have many choices of investment instruments to invest in the Islamic capital market. Previous studies have shown the factors that influence the capital market and influence investors' decisions to invest in the capital market. This study uses the Analytic Network Process (ANP) method to (1) determine the criteria that need to be taken into consideration in choosing an Islamic capital market investment instrument. (2) knowing the ideal investment instrument based on established criteria. The criteria used in this study include seven criteria, namely: investment performance criteria, risk criteria, liquidity criteria, macroeconomic factor criteria, individual circumstance criteria, psychological factor criteria, and demographic criteria. The respondents in this study were five experts from academics, practitioners, and regulator. The major findings of the research are (1) the criteria to be considered in choosing Islamic capital market investment instruments are divided into investor criteria and capital market criteria. Investor criteria include; psychological factors (motivation and self control), individual circumtances (financial literacy), demographics (income and education). Capital market criteria include: investment performance (capital gain, yield, and fundamental analysis), risk (financial risk, market risk and management risk), macroeconomic factors (exchange rates and gross domestic product), liquidity (liquidity ratio). (2) the alternative with the highest priority is sharia mutual funds, then sukuk and sharia stocks</em><em>.</em></p></div>

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