THE INFLUENCE OF FINANCIAL LITERACY, FINANCIAL ATTITUDE, FINANCIAL SOCIALIZATION, AND FINANCIAL BEHAVIOR TOWARDS FINANCIAL WELL-BEING: A CASE OF YOUNG GENERATION IN GREATER JAKARTA

Abstract

Purpose – The purpose of this study is to find out the influence of financial literacy, financial attitude, financial socialization, and financial behavior towards financial well-being. Design/Methodology – The method of this research used a quantitative method by gathering data using a questionnaire. Quantitative research is defined as a systematic examination by collecting quantifiable data such as mathematical, statistical, etc. The online questionnaire consisted of 25 item statements, distributed to Indonesian citizens who live in Indonesia. There are 277 replies that are valid. This research used non-probability sampling. This research is using snowball sampling because can get respondent by asking respondent to spread it to people closest to them. Findings – From the analysis results, this research found that financial literacy has a significant impact towards financial behavior. Next, financial attitude positively impact towards financial behavior. And financial behavior has an influence towards financial well-being. Meanwhile, financial socialization does not significant impact towards financial behavior. Originality – This is the first study identify the influence of financial literacy, financial attitude, financial socialization and financial behavior towards financial well-being of young generation in Greater Jakarta. This research used Structural Equation Model (SEM) becomes the statistical software of this research.