scholarly journals Improving financial literacy via social media: the case of Kogumispäevik

2021 ◽  
Vol 9 (2) ◽  
pp. 127-154
Author(s):  
Kati Voomets ◽  
Leonore Riitsalu ◽  
Andra Siibak
Keyword(s):  
Social Media ◽  
Financial Literacy

Artikli keskmes on finantskirjaoskuse ehk rahatarkuse arendamine sotsiaalmeedia kaudu. Täpsemalt uuriti Facebooki rahatarkuse teemalist gruppi Kogumispäevik ja seda, milliseid finantsnõuandeid ja -nippe on grupi liikmed sealt saanud ning kas ja kuidas neid igapäevases käitumises rakendanud. Andmeid koguti fookusgrupiintervjuudega gruppi kuuluvate inimestega. Horisontaalanalüüsi tulemusel selgus, et grupp suurendas liikmete teadmisi ning mõjus nende finantskäitumisele positiivselt. Soovitud käitumist toetasid eelkõige grupis jagatud praktilist laadi nõuanded, vastastikune motiveerimine ning grupis välja kujunenud sotsiaalsed normid ja kapital, mis omakorda soodustasid säästlikku elu- ja mõtteviisi. Seega toimis sotsiaalmeedia grupp finantshariduse kanalina. Finantshariduse pakkujad ja poliitikakujundajad saavad tulemuste toel tõhusamalt kavandada sotsiaalmeedia kaudu finantskirjaoskuse arendamist. Lisauurimist vajab sotsiaalmeedia grupi mõju pikaajalisele finantskäitumisele.  Summary

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

2021 ◽  
Vol 12 (1) ◽  
pp. 42-42
Author(s):  
Bryan Teoh Phern Chern
Keyword(s):  
Social Media ◽  
Financial Literacy ◽  
Financial Planning ◽  
Business Models ◽  
Service Providers ◽  
Personal Finance ◽  
Easy Access ◽  
Finance Management ◽  
Financial Planners ◽  
Personal Financial Planning

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

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.

Antecedents and Consequences of Using Social Media for Personal Finance

2020 ◽  
Vol 31 (1) ◽  
pp. 162-176
Author(s):  
Yingxia Cao ◽  
Fengmei Gong ◽  
Tong Zeng
Keyword(s):  
Social Media ◽  
User Satisfaction ◽  
Financial Literacy ◽  
Well Being ◽  
Personal Finance ◽  
Ease Of Use ◽  
Financial Industry ◽  
Financial Outcomes ◽  
Social Media Tools ◽  
Antecedents And Consequences

This study was intended to find out whether social media could be a solution to improve personal financial literacy and ability. The authors examined the antecedents and consequences of using social media for personal finance with survey data from 359 individuals who used social media tools to view, learn, post, or ask for financial information or advice. They found that usefulness and compatibility were two reasons why people use social media for personal finance, while ease of use and concerns/risks were not. The study also revealed that social media use for personal finance were associated with positive financial outcomes and user satisfaction, which in turn prompted users' intentions to continue using social media for personal finance in the future. These findings suggested that social media could be a legitimate and fruitful source for individuals and financial industry to improve personal financial well-being.

scholarly journals The roles of peers and social media in building financial literacy among the millennial generation: A case of indonesian economics and business students

2021 ◽  
Vol 7 (1) ◽  
pp. 1947579
Author(s):  
Heri Yanto ◽  
Norashikin Ismail ◽  
Kiswanto Kiswanto ◽  
Nurhazrina Mat Rahim ◽  
Niswah Baroroh
Keyword(s):  
Social Media ◽  
Financial Literacy ◽  
Millennial Generation ◽  
Business Students

scholarly journals THE INFLUENCE OF DEMOGRAPHY, SOCIAL MEDIA, RISK ATTITUDE, AND OVERCONFIDENCE ON THE FINANCIAL LITERACY OF USERS SOCIAL MEDIA IN SURABAYA

2021 ◽  
Vol 2 (1) ◽  
pp. 10-19
Author(s):  
Rizon Rizon ◽  
Njo Anastasia ◽  
Evelyn Evelyn
Keyword(s):  
Social Media ◽  
Data Analysis ◽  
Financial Literacy ◽  
Risk Attitude ◽  
Test Results ◽  
Analysis Method ◽  
Online Questionnaire ◽  
Data Analysis Method

This study aims to examine the influence of demography, social media, risk attitude, and overconfidence on the financial literacy of users of social media in Surabaya. The sample used in this study amounted to 300 respondents. Data were collected using a online questionnaire via Google Form. The data analysis method used in this study is PLS. The analysis test results show that there is an effect of demography, social media, risk attitude, and overconfidence on users' financial literacy in Surabaya.

scholarly journals Empowering Financial Education by Banks—Social Media as a Modern Channel

2021 ◽  
Vol 14 (3) ◽  
pp. 118
Author(s):  
Iwa Kuchciak ◽  
Justyna Wiktorowicz
Keyword(s):  
Social Media ◽  
Financial Literacy ◽  
Commercial Banks ◽  
Financial Education ◽  
Well Being ◽  
Relationship Building ◽  
Social Media Platforms ◽  
And Cluster Analysis ◽  
The Stability ◽  
The Empirical Analysis

Financial literacy is extremely important, both from the perspective of the financial well-being of individuals and the stability of the financial market and the whole economy. The more financially literate a bank’s customers are, the more frequently and consciously they use financial products and services. Thus, banks are potentially significant stakeholders in the financial education process. Considering that social media have become the leading channel for communication and relationship building, especially regarding young clients, this channel should also be used by banks to increase financial literacy. The aim of this paper is to assess banks’ involvement in financial education activities through social media. We assume that banks use social media as a modern and attractive channel for improving financial education among social media users. The empirical analysis was conducted using several data sources, including non-financial statements and a unique self-collected dataset that describes the specifics of the most popular social media platforms (like Facebook, Twitter, YouTube, Instagram, GoldenLine, and LinkedIn) in the activities of commercial and cooperative banks in Poland between 2010 and 2019. Descriptive statistical methods and cluster analysis were used. The results show that educational activities provided by banks in Poland differ for each social media channel. Additionally, although financial education topics have become more popular among content published by banks, there is a huge disproportion between cooperative and commercial banks. Generally, banks that are more active on social media (mostly commercial banks) also pay more attention to the financial education context.

scholarly journals The Influence of Income Level, Financial Literature, and Social Media Use on Teachers Consumption Behavior

2021 ◽  
Vol 5 (3) ◽  
pp. 479
Author(s):  
Nur Hidayati ◽  
Sri Kartikowati ◽  
Gimin Gimin
Keyword(s):  
Social Media ◽  
Financial Literacy ◽  
Descriptive Analysis ◽  
Sampling Technique ◽  
Income Level ◽  
Consumption Behavior ◽  
Sample Data ◽  
Use Of Social Media ◽  
Consumptive Behavior ◽  
Level Variable

This study aims to identify and analyze the influence of income level, financial literacy, use of social media; on the consumptive behavior of teachers. The total population in this study was 127 civil servant teachers. The sampling technique used Isaac Michael's table with an error rate of 5%, the number of samples in this study was 94 teachers. The process of taking sample data using proportional random sampling technique. Data was obtained by using questionnaires and documentation methods. The collected data was then analyzed using descriptive analysis and multiple regression analysis. The findings in this study are that there is no significant effect of the income level variable on the consumptive behavior of teachers, there is a significant influence of the financial literacy variable and the use of social media on the consumptive behavior of PNS teachers. The level of consumptive behavior is related to the financial literacy of teachers and the use of social media. So that teachers are expected to increase their level of financial literacy and reduce the intensity in using social media to minimize consumptive behavior.

scholarly journals MENAKAR MINAT MAHASISWA UNIVERSITAS PUTERA BATAM PADA PENGGUNAAN PRODUK TEKNOLOGI FINANSIAL

2020 ◽  
Vol 4 (1) ◽  
pp. 132-141
Author(s):  
Mortigor Afrizal Purba
Keyword(s):  
Social Media ◽  
Regression Analysis ◽  
Significant Influence ◽  
Financial Literacy ◽  
Descriptive Analysis ◽  
Sampling Technique ◽  
Scale Model ◽  
Study Program ◽  
Financial Products ◽  
Promotion Strategies

The aim of this reserch is to find out how much the level of financial literacy in Universitas Putera Batam students and to find out whether or not the influence of the level of financial literacy and promotion strategies through social media to the interest of using technology financial products. The type of this research is a quantitative research using probability random sampling technique, the respondents are the students of accounting, management, others study program. The data collection in this study used a questionnaire method with a Likert scale model and distributed to 100 respondents. In this study the data analysis that used is descriptive analysis, simple regression analysis and multiple regression analysis using SPSS 22.0.The results of this study showed that (1) the level of financial literacy in the fourth student of the study program belongs to the category of sufficient literate or is still fairly categorized with a percentage of 81.12 percent. (2) There is a positive and significant influence between financial literacy variables on the interest in using technology financial products. (3) There is a positive and significant influence between the variables of promotional strategies through social media on the interest in using technology financial products. (4) There is a positive and significant influence between financial literacy variables and promotion strategies through social media on the interest in using technology financial products. This illustrates that the interest of students of Universitas Putera Batam to use financial technology products is very satisfying category. Keywords: Financial Literacy, Promotion Strategy, Interest.

scholarly journals Faktor-faktor yang Mempengaruhi Minat Berinvestasi Saham Syariah

2021 ◽  
Vol 1 (2) ◽  
pp. 115-131
Author(s):  
Yusuf Satrio Ratmojoyo ◽  
Trisiladi Supriyanto ◽  
Siwi Nugraheni
Keyword(s):  
Social Media ◽  
Significant Influence ◽  
Financial Literacy ◽  
Sampling Technique ◽  
Population Data ◽  
Validity And Reliability ◽  
Purposive Sampling ◽  
The People ◽  
Data Processor ◽  
Risk Investment

The purpose of this research to analyze the effect of financial literacy, risk, investment psychology, and social media on the investment interest of the people of Jakarta in Islamic stocks. The sample used in this study uses one hundred people who will represent the entire population. Data collection in this study was carried out using a questionnaire distributed by the purposive sampling technique. The statistical methods used are descriptive statistical analysis, classical assumptions, multiple linear regression, validity and reliability, and hypotheses using SPSS Statistics 23 application as a data processor. The results of this study are the influence of the independent variables simultaneously on the interest in investing in Islamic stocks. However, in a partial test, only financial literacy, risk, and investment psychology factors have a significant influence on interest in investing in Islamic stocks, while social media factors do not have a significant influence on interest in investing in Islamic stocks.Tujuan penelitian ini untuk menganalisis pengaruh literasi keuangan, risiko, psikologi investasi, dan media sosial terhadap minat berinvestasi masyarakat Jakarta pada saham syariah. Sampel yang digunakan berjumlah seratus orang yang mewakili seluruh populasi. Pengumpulan data penelitian dilakukan dengan menggunakan kuesioner yang disebar dengan teknik purposive sampling. Metode statistik yang digunakan adalah analisis statistik deskriptif, asumsi klasik, regresi linier berganda, validitas dan reliabilitas, serta hipotesis dengan menggunakan alat bantu berupa aplikasi SPSS Statistics 23 sebagai pengolah data. Hasil penelitian menunjukkan adanya pengaruh variabel bebas secara bersamaan terhadap minat berinvestasi saham syariah. Akan tetapi pada pengujian secara parsial, hanya faktor literasi keuangan, risiko, dan psikologi investasi yang memiliki pengaruh signifikan terhadap minat berinvestasi saham syariah, sedangkan faktor media sosial tidak memiliki pengaruh yang signifikan terhadap minat berinvestasi saham syariah.

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