Financial Knowledge, Digital Financial Knowledge, Financial Attitude, Financial Behaviour and Financial Satisfaction on Millennials

Normawati, Rani Arifah; Rahayu, Sri; Worokinasih, Saparila

doi:10.4108/eai.6-3-2021.2305967

Cited by 12 publications

(9 citation statements)

References 14 publications

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“…It means that an individual will act rationally using all available information and perform calculations either directly or indirectly. The TPB has been widely used by previous researchers to link the level of financial literacy with financial behavior (Arianti, 2017;Daragmeh et al, 2021;Meyliana et al, 2019;Normawati et al, 2021).…”

Section: Digital Financial Literacy and Financial Behaviormentioning

confidence: 99%

“…This theory also explains that having a positive attitude toward finance is crucial for determining the success or failure of financial behavior. If a person's attitude toward finances is positive, he will be responsible for his financial situation and desire to save, invest, and plan for the future (Arianti, 2017;Normawati et al, 2021). Therefore, a person's level of digital financial literacy will also affect the individual's financial behavior, especially in terms of saving, shopping, and investing behavior (Panos & Wilson, 2020).…”

Section: Digital Financial Literacy and Financial Behaviormentioning

confidence: 99%

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The Current Digital Financial Literacy and Financial Behavior in Indonesian Millennial Generation

Rahayu

Ali

Aulia

et al. 2022

JAI

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Research aims: This study aims to investigate the relationship between the level of digital financial literacy (DFL) and financial behaviors, namely saving behavior, spending behavior, and investment behavior among the millennial generation in Indonesia.Design/Methodology/Approach: A survey method was performed in this study, and 741 millennial generations aged 25–40 years from several cities in Indonesia participated in this study. The Structural Equation Model using SmartPLS was employed to estimate the relationship of the latent variable.Research findings: Based on the data, it was found that DFL had a positive effect on spending behavior, saving behavior, and investment behavior. In addition, this study also revealed that social factors such as income had a significant influence on the DFL.Theoretical contribution/Originality: This research provides a map of the level of digital financial literacy among the millennial generation in Indonesia. In addition, since there is a limited study related to digital financial literacy, this research contributes to the enrichment of literature, especially related to digital financial literacy.Practitioner/Policy implication: It is expected that this result will be used by policymakers to make a policy regarding digital financial literacy, especially for millennial generations.Research limitation/Implication: Most respondents who participated in this study came from West Sumatra, affecting the generalization of the research results.

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Section: Digital Financial Literacy and Financial Behaviormentioning

confidence: 99%

Section: Digital Financial Literacy and Financial Behaviormentioning

confidence: 99%

The Current Digital Financial Literacy and Financial Behavior in Indonesian Millennial Generation

Rahayu

Ali

Aulia

et al. 2022

JAI

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show abstract

“…This growth has been stimulated by the proliferation of smartphones, the need for better customer experience, supportive government interventions to safeguard digital lending, increased market information, increased demand for digital credit among SMEs, and an increase in digitization during the pandemic (Toh & Tran, 2020). Digitalization enables automation which increases the convenience and ease of access to loans by customers but according to Normawati, Rahayu and Worokinasih (2021), digital loans taken for consumptive needs can negatively affect a borrower's financial well-being and contribute to over indebtedness.…”

Section: Background Of the Studymentioning

confidence: 99%

Effect of Mobile Network Operator Facilitated Digital Credit on the Financial Health of Youth Borrowers in Kibera, Nairobi County, Kenya

Wachira,

Kihara

2023

JBSM

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Purpose: The increased advancements in technological integration within the financial sector has led to development of new credit platforms which improve access to borrowing among the youth. Further, with proliferation of digital lending platforms which provide unsecured loans has led to a debt chokehold among the youth. This has resulted in poor financial health among the youth. The general objective of the study was to analyze the effect of mobile network operator facilitated digital credit on the financial health of youth borrowers in Kibera, Nairobi County, Kenya. Methodology: The study employed a correlational research design. The population of interest for this study was youth borrowers who live and work in Kibera, Nairobi County. The sampling frame for this study was active users of digital credit who are between 18 and 35 years, residing in Kibera. The list was obtained from the Independent Electoral and Boundaries Commission’s (IEBC) voter register for Kibera Ward. A stratified sampling technique was used to select the respondents. The sample size was 399 respondents. Data was collected using structured questionnaires. SPSS was used to aid in the data analysis. A descriptive statistical technique of analysis was used and shall entail the determination of the mean and frequency distribution of the datasets. Further inferential analysis was conducted using both correlation and regression analysis. The data was presented in tables and figures. Findings: The study was able to obtain an 88 percent response rate, signifying high degree of accessibility of the youth in the area. Of these, most were male, while only 107 of the responses were from female respondents. The study established that mobile-facilitated digital credit on youth borrower’s financial health has a positive and significant effect on youth’s financial health. The study concludes that mobile network operator facilitated digital credit has a significant and positive effect on the borrower’s financial health. The study concludes that mobile operator facilitated loans are fast and easily accessible which increases their effectiveness to the user. Unique Contribution to Theory, Policy and Practice: The study recommends that mobile money operators that provide digital loans reduce their operation rates considering they have high interest rates for the small loans they offer. The study also calls for the development of progressive peer to peer regulations that would improve the penetration of these loan devices that have been identified as key to young entrepreneurs.

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“…Seseorang yang lahir dengan rentang tahun 1980-1995 termasuk ke dalam generasi millenial. Generasi millenial merupakan generasi pertama yang dikenalkan dengan layanan keuangan digital seperti pembelian secara online dan pembayaran secara online [9]. Generasi millenial akan membentuk komunitas dengan menggunakan teknologi, yang didasari untuk mengambil keputusan yang tepat dalam berinvestasi [10].…”

Section: Generasi Millenialunclassified

REVIEW FAKTOR PENENTU KEPUTUSAN INVESTASI PADA GENERASI Z & MILLENIAL

et al. 2022

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Investment is one of the trends favored by various generations today, this is evidenced by the percentage growth of assets in 2021. Generation Z & Millennials are the generation that dominates the capital market in Indonesia in 2021. Knowing the behavior and factors that can affect Generation Z & Millennials in making investment decisions is the purpose of this review, so that it can be used by Generation Z & Millennials when making investments in the future. This study uses a literature review method by reviewing the behavior and investment decision factors of Generation Z & Millennials. In developed countries Generation Z & Millennials have understood the impact of investment, while in developing countries Generation Z & Millennials have a high level of trust and choose safer investment instruments. Factors that can influence investment decisions in Generation Z & Millennials include financial literacy, financial attitudes, and financial perceptions.

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Financial Knowledge, Digital Financial Knowledge, Financial Attitude, Financial Behaviour and Financial Satisfaction on Millennials

Cited by 12 publications

References 14 publications

The Current Digital Financial Literacy and Financial Behavior in Indonesian Millennial Generation

The Current Digital Financial Literacy and Financial Behavior in Indonesian Millennial Generation

Effect of Mobile Network Operator Facilitated Digital Credit on the Financial Health of Youth Borrowers in Kibera, Nairobi County, Kenya

REVIEW FAKTOR PENENTU KEPUTUSAN INVESTASI PADA GENERASI Z & MILLENIAL

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