The Effect of Financial Technology, Demography, and Financial Literacy on Financial Management Behavior of Productive Age in Surabaya, Indonesia

Abstract

This study aims to examine the effect of financial technology, demographics, and financial literacy on the financial decision making of the productive age population in Surabaya. The type of research is quantitative and conclusive in the form of causality. The data used are primary data obtained from the questionnaire. The population which is used as much as 180 respondents was selected by way of judgmental sampling. The characteristics of respondents are the productive age population in Surabaya who has income and work. Mechanical analysis of the use of researchers is an analysis of regression doubled by using SPSS software version 20. Results of the study showed that the variables demographics are proxied by type of sex, income, and age did not influence on the financial management behavior in the population age productive in Surabaya. Whereas Financial Technology and Financial Literacy have a significant positive effect on Financial Management Behavior in the productive age population in Surabaya

The Effect of Financial Literacy, Parents’ Social Economic and Student Lifestyle on Students Personal Financial Management

“…Based on the results of data analysis using SmartPLS, it obtained p value 0.000 < 0.050 so it can be concluded that Financial Literature had a significant effect on Students' Personal Financial Management, an increase in the Literature on Students variable would have a significant effect on an increase in the Students Personal Financial Management variable and a decrease in the Financial Literature variable would have an significant effect to the decrease in the Student Personal Financial Management variable. These results are in line with the research conducted by Chuah et al (2020), Cherney et al (2020), Humaidi et al (2020) that Financial Literature had a positive and significant effect on Students' Personal Financial Management. It concludes that personal management can be influenced simultaneously by variables of financial literacy, socioeconomic status, and lifestyle.…”

“…In Table 3 it can be explained that the adjusted R2 value of the independent variable his personal finances. According to Chuah et al (2020), Cherney et al (2020), Humaidi et al (2020) Lifestyle can be interpreted as the whole life of a person who relates to the environment and each other. The luxurious lifestyle is not only applied by teenagers whose economic level is upper middle class.…”

“…They are willing to not spend their pocket money for days to collect money to buy luxury items such as the latest Smartphones, expensive make-up, watching movies to concerts, and walking to the mall. According to Chuah et al (2020), Cherney et al (2020), Humaidi et al (2020) The treatment of luxurious living makes it difficult for individual needs to be fulfilled in order to fulfil their desires. This is because they are following the trend and not out of date.…”

“…According to Chuah et al (2020) Individual financial knowledge can be expected to influence a person's individual attitude. And according to Cherney et al (2020), Humaidi et al (2020) financial knowledge leads to developments in financial decision making and determination. Human life will be happy if he succeeds in achieving what he wants and dreams of.…”

“…According to Chuah et al (2020), Cherney et al (2020, Humaidi et al (2020) stated that knowledge about finance at the youth level such as college students and school students is still very small, although through learning at school, learning related to various person's position in the environment related to other individuals on their rights and responsibilities in interacting and resources is called socioeconomic status. There is also the upper economic status, which is the position of the individual measured based on his wealth, where if the property is able to meet the tertiary needs, on the contrary the lower economic status where if the assets do not meet their daily needs and are still below the average of society in general.…”