Financial Literacy, Self-Efficacy, and Financial Behaviour of College Students

International Journal of Pedagogy and Teacher Education

Anastasia Anggarkusuma Arofah¹ 

[1] Sebelas Maret University, Indonesia;

关键词: financial literacy;    self-efficacy;    financial behaviour;    financial education;   

DOI  :  10.20961/ijpte.v3i2.17546

来源: DOAJ

【 摘 要 】

Many policies have been provided to improve the financial literacy of individuals, especially those involving financial education programmes. However, positive financial behaviour requires more than financial literacy: an individual must also have self-confidence or self-belief in their ability to manage their personal finances. This attribute is known in the psychological literature as “self-efficacy”. This paper examines the importance of financial literacy and self-efficacy in affecting individual financial behaviour. The research is conducted through a survey of 129 undergraduates of Economics Education, at Sebelas Maret University.  The results of the research show that both financial literacy and self-efficacy have positive and significant effects on financial behaviour.  Undergraduates with high financial literacy are more likely to hold investment and savings products and are less likely to hold debt-related products. Similarly, undergraduates who have high self-efficacy are likely to be better at managing their personal finances. Moreover, the significance of financial literacy and self-efficacy has important implications for the development of policies that aim to improve financial behaviour among college students through financial education programmes.

【 授权许可】

Unknown