Financial Literacy and Peer Involvement on Students' Financial Management Behaviour

Rika Mardiani, Dwi Indah Lestari, Dwi Novitasari, Harpa Sugiharti

Abstract


The purpose of this study is to determine the impact of financial literacy and peer influence on students' financial management behaviour. This research uses a quantitative approach with descriptive and verification methods. Multiple linear regression analysis was employed to examine the influence of variables. Financial literacy has a significant positive effect on financial management behaviour (t = 6.260, sig. = 0.000). Peer influence also has a significant positive effect on financial management behaviour (t = 3.045, sig. = 0.003). Together, financial literacy and peer influence explain 34.3% of the variance in students' financial management behaviour. Based on the Theory of Planned Behaviour, this study confirms that both financial attitudes (literacy) and subjective norms (peers) shape individual financial behaviour. Practically, universities should strengthen financial literacy programs and foster positive peer environments to improve students' financial management. This study provides novel evidence on the combined effect of financial literacy and peer involvement on financial management behaviour among Indonesian accounting education students.

Keywords


Financial Literacy; Peer Influence; Involvement of Peers; Financial Management Behaviour; Theory of Planned Behaviour.

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References


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DOI: https://doi.org/10.17509/jpak.v14i2.103181

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