Abstract :

Financial knowledge, financial behaviour, financial self-efficacy, and financial behaviour are needed to make the right financial decisions. This study determines the differences in rural and urban junior high school students’ financial knowledge, financial behaviour, financial self-efficacy, and saving behaviour. This study also finds the influence of financial knowledge, financial self-efficacy, and saving behaviour on students’ financial behaviour. This study used the t-test, independent t-test and multiple linear regression methods to analyse the data obtained in the survey. The respondent of the survey is junior high school students aged 11 to 15 years. Data were obtained from the results of questionnaires filled in online by students. The results showed differences in financial knowledge, financial behaviour, and financial self-efficacy in rural and urban junior high school students. The findings in this study show that the financial behaviour of junior high school students in rural and urban areas shows the same results. Our research shows that demographics, financial knowledge, and financial self-efficacy influence students’ financial behaviour. However, financial behaviour is not influenced by students’ saving behaviour.

---

Keywords :

Financial knowledge; Financial behavior; Financial self-efficacy; Saving behavior.

---

References :

1. E. Gilenko and A. Chernova, “Saving behavior and financial literacy of Russian high school students: An application of a copula-based bivariate probit-regression approach,” Child. Youth Serv. Rev., vol. 127, no. February, p. 106122, 2021, doi: 10.1016/j.childyouth.2021.106122.
2. A. Amagir, W. Groot, H. Maassen van den Brink, and A. Wilschut, “A review of financial-literacy education programs for children and adolescents,” Citizenship, Soc. Econ. Educ., vol. 17, no. 1, pp. 56–80, 2018, doi: 10.1177/2047173417719555.
3. Otoritas Jasa Keuangan, “Strategi Nasional Literasi Keuangan Indonesia (Revisit 2017),” Otoritas Jasa Keuang., pp. 1–99, 2017, [Online]. Available: https://www.ojk.go.id/id/berita-dankegiatan/publikasi/Documents/Pages/Strategi-Nasional-Literasi-Keuangan-Indonesia-(Revisit2017)-/SNLKI (Revisit 2017).pdf.
4. Otoritas Jasa Keuangan, “Survei Nasional Literasi dan Inklusi Keuangan 2019,” Surv. Rep., pp. 1–26, 2019, [Online]. Available: www.ojk.go.id.
5. Otoritas Jasa Keuangan, “Survei Nasional Literasi dan Inklusi Keuangan 2019.” Jakarta, 2013.
6. A. Lusardi, “Financial literacy and the need for financial education: evidence and implications,” Swiss J. Econ. Stat., vol. 155, no. 1, pp. 1–8, 2019, doi: 10.1186/s41937-019-0027-5.
7. T. Kaiser and L. Menkhoff, “Does financial education impact financial literacy and financial behavior, and if so, when?,” World Bank Econ. Rev., vol. 31, no. 3, pp. 611–630, 2017, doi: 10.1093/wber/lhx018.
8. R. Slavin, Educational Psychology : theory and practice, Twelfth., vol. 25, no. 7. New York: Pearson, 2015.
9. S. Brown and K. Taylor, “Early influences on saving behaviour: Analysis of British panel data,” J. Bank. Financ., vol. 62, no. September, pp. 1–14, 2016, doi: 10.1016/j.jbankfin.2015.09.011.
10. J. J. Xiao, C. Chen, and L. Sun, “Age differences in consumer financial capability,” Int. J. Consum. Stud., vol. 39, no. 4, pp. 387–395, 2015, doi: 10.1111/ijcs.12205.
11. A. Lusardi and O. S. Mitchell, “The economic importance of financial literacy: Theory and evidence,” J. Econ. Lit., vol. 52, no. 1, pp. 5–44, 2014, doi: 10.1257/jel.52.1.5.
12. OECD, PISA 2012 Results: Students and Money (Volume VI), vol. VI, no. Volume VI. 2014.
13. N. Tang and A. Baker, “Self-esteem, financial knowledge and financial behavior,” J. Econ. Psychol., vol. 54, pp. 164–176, 2016, doi: 10.1016/j.joep.2016.04.005.
14. N. T. Herawati, I. M. Candiasa, I. K. Yadnyana, and N. Suharsono, “Factors That Influence Financial Behavior Among Accounting Students in Bali,” Int. J. Bus. Adm., vol. 9, no. 3, p. 30, 2018, doi: 10.5430/ijba.v9n3p30.
15. F. Margaretha and R. A. Pambudhi, “TINGKAT LITERASI KEUANGAN PADA MAHASISWA S-1 FAKULTAS EKONOMI,” al-Ulum, vol. 17, no. 1, pp. 44–64, 2017, doi: 10.9744/jmk.17.1.76.
16. C. Mason and R. Wilson, “Conceptualising financial literacy,” Bus. Sch. Res. Ser., vol. 7, no. 1, pp. 1–41, 2019, [Online]. Available: https://dspace.lboro.ac.uk/dspace-jspui/handle/2134/2016.
17. L. Farrell, T. R. L. Fry, and L. Risse, “The significance of financial self-efficacy in explaining women’s personal finance behaviour,” J. Econ. Psychol., vol. 54, pp. 85–99, 2016, doi: 10.1016/j.joep.2015.07.001.
18. R. Mindra, M. Moya, L. T. Zuze, and O. Kodongo, “Financial self-efficacy: a determinant of financial inclusion,” Int. J. Bank Mark., vol. 35, no. 3, pp. 338–353, 2017, doi: 10.1108/IJBM-052016-0065.
19. OECD, “Financial Education in School,” 2012, [Online]. Available:
https://www.oecd.org/finance/financial-education/FinEdSchool_web.pdf.
20. M. Gutter et al., “Which Students Are More Likely to Experience Financial Socialization Opportunities? Exploring the Relationship between Financial Behaviors and Financial Well-Being of College Students,” no. June, 2009, [Online]. Available:
http://www.indstate.edu/business/sites/business.indstate.edu/files/Docs/2009-WP07_Gutter_Copur_Garrison.pdf.
21. M. I. Albeerdy and B. Gharleghi, “Determinants of the Financial Literacy among College Students in Malaysia,” Int. J. Bus. Adm., vol. 6, no. 3, 2015, doi: 10.5430/ijba.v6n3p15.
22. A. Amagir, W. Groot, H. M. van den Brink, and A. Wilschut, “Financial literacy of high school students in the Netherlands: knowledge, attitudes, self-efficacy, and behavior,” Int. Rev. Econ. Educ., vol. 34, no. April 2019, p. 100185, 2020, doi: 10.1016/j.iree.2020.100185.
23. OECD, PISA 2018 Results (Volume IV): Are Students Smart About Money?, vol. IV. 2020.
24. R. Henager and B. J. Cude, “Financial literacy and long- and short-term financial behavior in different age groups,” J. Financ. Couns. Plan., vol. 27, no. 1, pp. 3–19, 2016, doi: 10.1891/10523073.27.1.3.
25. Y. J. Loke, “The influence of socio-demographic and financial knowledge factors on financial management practices of Malaysians,” Int. J. Bus. Soc., vol. 18, no. 1, pp. 33–50, 2017, doi: 10.33736/ijbs.488.2017.
26. OECD, “Teacher Questionnaire for Pisa 2018 Test Language Teacher (International Option ) Main Survey Version,” vol. 2018, no. October 2017, pp. 1–18, 2018.
27. E. O. Arceo-Gómez and F. A. Villagómez, “Financial literacy among Mexican high school teenagers,” Int. Rev. Econ. Educ., vol. 24, pp. 1–17, 2017, doi: 10.1016/j.iree.2016.10.001.
28. A. Cwynar, “Do Women Behave Financially Worse than Men? Evidence from Married and Cohabiting Couples,” Cent. Eur. Bus. Rev., no. March, 2021, doi: 10.18267/j.cebr.270.
29. P. R. Andarsari and M. N. Ningtyas, “The Role of Financial Literacy on Financial Behavior,” Jabe (Journal Account. Bus. Educ., vol. 4, no. 1, p. 24, 2019, doi: 10.26675/jabe.v4i1.8524.
30. S. Shim, J. Serido, and S. K. Lee, “Problem-Solving Orientations, Financial Self-Efficacy, and Student-Loan Repayment Stress,” J. Consum. Aff., vol. 53, no. 3, pp. 1273–1296, 2019, doi: 10.1111/joca.12228.