scholarly journals Study of Financial Behaviors Micro Small Medium Enterprise in Bandung, Indonesia

2021 ◽  
Vol 12 (1) ◽  
pp. 21-25
Author(s):  
Maya Malinda ◽  
◽  
Asni Harianti ◽  
Miki Tjandra ◽  
Yolla Margaretha ◽  
...  
Keyword(s):  
Financial Literacy ◽  
Financial Planning ◽  
Financial Management ◽  
Financial Behavior ◽  
Estate Planning ◽  
Financial Behaviors ◽  
Medium Enterprise ◽  
Personal Financial Planning

This study has purpose to reveal financial literacy from micro small medium enterprise (MSME) entrepreneurs in Bandung, Indonesia. Divided by three locations, Bojongsoang, Sukajadi and other location in Bandung city. The purpose of this research is to convey MSME behavior of financial literate. Criteria of financial literate are person can understand and practice for financial management, saving/investing, insurance & estate planning, credit, shopping. The method for testing used in this paper build by O’Neill is through Financial Fitness Quiz (FFQ)The result from 276 participants Bojong Soang, Sukajadi and other locations In Bandung, have different results degree. The result for saving/investment, insurance and estate planning, credit, shopping dimension showed low score below 20 points. It has been proven that MSME entrepreneurs need personal financial planning training. This research has purpose for to increase financial literate and to improve positive financial behavior with education and apps program peSak Abdi.

scholarly journals A MODEL FOR PERSONAL FINANCIAL PLANNING TOWARDS RETIREMENT

2020 ◽  
Vol 0 (0) ◽  
pp. 1-21
Author(s):  
Teresa C. Herrador-Alcaide ◽  
Montserrat Hernández-Solís ◽  
Gabriela Topa
Keyword(s):  
Financial Literacy ◽  
Financial Planning ◽  
Financial Management ◽  
Structural Equation ◽  
Financial Risk ◽  
Management Practices ◽  
Equation Model ◽  
Financial Resources ◽  
Explanatory Variables ◽  
Personal Financial Planning

One problem for sustainability of systems pensions is how people without specialized financial training could manage their resources and their actual personal intentions towards retirement. Research objective is to analyse the relationship among several factors that affect the behaviour towards retirement, the financial management practices and the financial resources, by carrying out a structural equation model (SEM) that was tested in Spanish workers sample in three phases. The influence of financial literacy, financial retirement objectives, optimism on retirement, tolerance to financial risk, and the commitment to financial planning at time 1, are analysed as explanatory variables of financial management practices at time 2. Financial resources for retirement at time 3 are explained by financial management practices. According to results, the model can predict the 36% of the variance of financial management practices and 53% of the variance of financial resources for retirement. Thus, the model can be used for checking of knowledge of the personal financial behaviour before retirement, what enables a better personal financial planning. It would be possible to apply a model based on self-assessment in order to implement a complementary financial planning that would allow to maintain the welfare during retirement.

scholarly journals PERMODELAN POLA PERENCANAAN KEUANGAN BERDASARKAN STATUS PERNIKAHAN

2021 ◽  
Vol 15 (4) ◽  
pp. 773-784
Author(s):  
Lukmanul Hakim ◽  
Sri Andriani ◽  
Nenny Noor Umami
Keyword(s):  
Structural Equation Modeling ◽  
Marital Status ◽  
Financial Literacy ◽  
Financial Planning ◽  
Financial Management ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Financial Behavior ◽  
Equation Modeling

A Marital status at community can make an impact on financial management. The purpose of this study was to analyze financial planning based on marital status with the variables of financial attitude, financial behavior, and financial literacy towards people who live in Sumbawa. The data were analyzed using Structural Equation Modeling Partial Least Square (SEM-PLS) through smartPLS version 3.0 software. The results of the analysis in this study indicate that (1) financial attitude has a significant effect on financial behavior both based on married and unmarried status, (2) financial attitude has a significant effect on financial literacy both based on married and unmarried status, (3) financial attitude has an effect significant on financial planning based on both married and unmarried status, (4) financial behavior has no significant effect on financial literacy both based on married and unmarried status, (5) financial behavior has no significant effect on financial planning both based on married and unmarried status, (6) financial literacy has no significant effect on financial planning based on both married and unmarried status, and (7) There is no difference in financial planning based on marital status

scholarly journals CLUSTER ANALYSIS OF FINANCIAL BEHAVIORS AND PREFERENCES AMONG THE BOTTOM OF THE PYRAMID GROUP

2019 ◽  
Vol 21 (1) ◽  
pp. 51-63
Author(s):  
Dewi Saraswati ◽  
Dian Kusumaningrum
Keyword(s):  
Cluster Analysis ◽  
Financial Literacy ◽  
Financial Planning ◽  
Financial Inclusion ◽  
Financial Behavior ◽  
Bottom Of The Pyramid ◽  
Chi Square ◽  
Banking Services ◽  
Financial Behaviors

This study investigates the financial behavior and preferences of the bottom of the pyramid (BOP) group, and thus, contributes to the financial inclusion demand-side literature. A survey of 100 households was conducted. A cluster analysis was used to analyze the data and portray the characteristics of the BOP. Further analysis was conducted using chi-square and ANOVA tests. The results reveal three sub-groups within the BOP which consists of the very low, low, and medium. Financial behaviors are found to be indifferent among the sub-groups, except for savings allocations and financial planning. Households with a better economic condition are found to have a higher attention to use banking services. The financial literacy category indicates different attitudes in conducting long-term financial planning and service preferences. This result implies that financial literacy and adequate financial products are beneficial towards the financial inclusion of the BOP group.

Financial Literacy and Long- and Short-Term Financial Behavior in Different Age Groups

2016 ◽  
Vol 27 (1) ◽  
pp. 3-19 ◽  
Author(s):  
Robin Henager ◽  
Brenda J. Cude
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Age Groups ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Short Term ◽  
Financial Behaviors ◽  
Management Ability ◽  
Objective Financial Knowledge ◽  
Subjective Financial Knowledge

The purpose of this study was to examine the relationship between financial literacy and financial behaviors among various age groups. Financial literacy was measured in three ways: objective financial knowledge, subjective financial knowledge or confidence, and subjective financial management ability. The age groups were 18–24, 25–34, 35–44, 45–54, 55–64, and 65 and older. Long-term financial behavior referred to retirement saving and investing behavior, whereas short-term financial behavior referred to spending and emergency saving behavior. In the full sample, both objective and subjective financial literacy variables were positively associated with long- and short-term financial behaviors. In the age subsamples, subjective financial knowledge or confidence was more strongly related to long- and short-term financial behavior than either objective financial knowledge or subjective financial management ability in the younger age groups. In the older age groups, objective financial knowledge was more strongly related to long-term financial behavior than either of the other two measures of financial literacy.

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

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.

Women’s financial planning for retirement

2019 ◽  
Vol 37 (1) ◽  
pp. 120-141 ◽  
Author(s):  
Satish Kumar ◽  
Sweta Tomar ◽  
Deepak Verma
Keyword(s):  
Financial Literacy ◽  
Financial Planning ◽  
Financial Management ◽  
Future Research ◽  
Content Type ◽  
Developed Economies ◽  
Factors Influencing ◽  
The Status ◽  
Socio Demographic Factors ◽  
Women's Retirement

PurposeThe purpose of this paper is to examine the status of the research on women’s financial planning for retirement. This paper provides a brief review of the work carried out so far along with a conceptual framework of factors influencing women’s retirement financial planning. In addition, it lists significant gaps and recommends avenues for future research.Design/methodology/approachThe review is based on 151 articles appearing in various peer-reviewed journals published during 1980–2017. The study establishes its prominence by studying the publication activities based on the year of publication and region, citation analysis, research designs, data analysis techniques and findings from the selected articles.FindingsMost of the literature on women’s financial planning for retirement indicates a lack of financial management amongst women and their susceptibility to poverty in postretirement years. The majority of the research works in this field have taken place in developed economies. Empirical research with regression-based models for analysis is the most popular research design. This review also highlights the significant determinants of women’s retirement financial planning as identified through literature. These include socio-demographic factors, psychological constructs, financial literacy, economic and circumstantial forces.Originality/valueThis paper covers the research works done in this area in the past 38 years. To the best of authors’ knowledge, this is the first attempt to provide a systematic and comprehensive compilation of the knowledge in this subject. It further synthesizes the findings of various studies on factors influencing women’s retirement financial planning and gives recommendations for future studies.

scholarly journals ANALISIS LITERASI KEUANGAN MAHASISWA S-1 FAKULTAS EKONOMIKA DAN BISNIS UNIVERSITAS DIPONEGORO ANGKATAN 2014 - 2017

2018 ◽  
Vol 1 (2) ◽  
pp. 54
Author(s):  
Gina Sakinah ◽  
Bagio Mudakir
Keyword(s):  
Undergraduate Students ◽  
Financial Literacy ◽  
Financial Management ◽  
Parental Education ◽  
Descriptive Statistics ◽  
Financial Behavior ◽  
Primary Data ◽  
Personal Finances ◽  
Regression Test ◽  
And Behavior

Financial management failure occurs when students do not have good financial literacy. Students must have good knowledge, attitude, and behavior in managing their personal finances. This study aims to analyze the level of financial literacy of undergraduate students of the Faculty of Economics and Business at Diponegoro University class of 2014 to 2017 and the factors that influence it. Financial literacy in this study uses a financial literacy index consisting of components of the knowledge, attitude, and financial behavior of students. The research data uses primary data with questionnaires and sample of 100 students. Meanwhile, the method used in this study is descriptive statistics and multiple linear regression test (OLS). As a result, the level of student financial literacy is categorized as quite literary, that is 50.4%, influenced by age, GPA, parental education, and length of study. On the other hand, gender and income do not affect student financial literacy.

scholarly journals Personal Financial Planning

2021 ◽  
Vol 1 (2) ◽  
Author(s):  
Hadijah Febriana ◽  
Jeni Irnawati ◽  
Vega Anismadiyah ◽  
Vidya Amalia Rismanty ◽  
Wirawan Suryanto
Keyword(s):  
Everyday Life ◽  
Financial Planning ◽  
Financial Management ◽  
Boarding School ◽  
Knowledge And Skills ◽  
Face To Face ◽  
Direct Training ◽  
12Th Grade ◽  
The Future ◽  
Personal Financial Planning

Pelatihan ini bertujuan agar para santri di Yayasan Pondok Pesantren Yatim Al Hanif yang masih berusia remaja memahami pentingnya perencanaan keuangan untuk membantu para santri tersebut dalam mengatur keuangan saat ini atau di masa yang akan datang agar keuangannya bisa berjalan dengan baik. Dalam kegiatan ini metode yang dilakukan kepada para santri berupa pelatihan langsung dengan tatap muka di  aula yang melibatkan para santri kelas 12 dan pendamping di yayasan tersebut, selanjutnya diskusi dan tanya jawab. Hasil kegiatan adalah bertambahnya keilmuan dan keterampilan para santri di Yayasan Pondok Pesantren Yatim Al Hanif, khususnya di bidang keuangan yaitu perencanaan keuangan yang akan menjadi bekal para santri dalam mengelola keuangan baik di masa saat ini atau di masa yang akan datang. Ilmu yang didapatkan pada kegiatan ini diharapkan mampu diterapkan dalam kehidupan sehari-hari baik untuk diri sendiri atau keluarga.Kata Kunci: Perencanaan Keuangan This training aims to make students at the Yatim Al Hanif Islamic Boarding School Foundation, who are still in their teens, undersrabd the importance of financial planning to help these students manage theiw finances now or in the future so that their finances can run well. In this activity, the method applied to the students was ni the form of direct training with face to face training in the hall involving 12th grade students and assistants at the foundation, then discussion and question and answer. The result of the activity is the increase in knowledge and skills of the students at the Yatim Al Hanif Islamic Boarding School Fundation, especially in the financial sector, namely financial planning that will provide the students with financial management in the present or in the future. The knowledge gained in this activity is expected to be able to be applied in everyday life for both yourself and your family.Keywords: Personal Financial Planning

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