Parental Influence on Financial Literacy and Behavior of Generation Z Students at UPN Yogyakarta
Keywords:
Financial Behavior, Generation Z, Financial Education, Students, Parental Influence
Abstract
This study aims to determine the role of parents in providing financial education to Generation Z students at UPN Yogyakarta and how this education impacts their financial behavior. Utilizing a phenomenological research approach, the study involved in-depth interviews with ten respondents from UPN Yogyakarta. The research explores the factors that lead these students to recognize the importance of financial education imparted by their parents, along with other psychological and economic factors that underscore the necessity of financial literacy for wise money management. The findings reveal several key insights. Firstly, parents significantly shape their children's financial behaviors, with those who receive early financial education from their parents demonstrating better money management skills. Secondly, students who did not receive financial education from their parents often turn to digital platforms like YouTube and Instagram to gain financial knowledge. Thirdly, students from economically disadvantaged backgrounds are more likely to seek financial literacy independently to avoid financial pitfalls. Additionally, psychological factors, such as self-awareness and resilience, play a crucial role in shaping financial behavior. Lastly, there is a notable variation in financial literacy among the respondents, influenced by their family backgrounds and the financial education they received. These results underscore the importance of parental involvement in financial education and the need for targeted strategies to enhance financial literacy among students, particularly those from less privileged backgrounds. The study highlights the potential benefits of incorporating financial education into early childhood development to foster prudent financial behaviors.
References
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29. Johnny. Miles, Matthew B. Huberman, A Michael. Saldana, Qualitative Data Analysis, 3rd ed. United Kingdom: SAGE Publications, 2014.
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2. Setiawan B, Keuangan M, Ekonomi F. EDUKASI LITERASI KEUANGAN BAGI MAHASISWA DI KOTA PALEMBANG EDUCATION OF FINANCIAL LITERACY FOR STUDENTS IN PALEMBANG. Vol. 4, INTEGRITAS : Jurnal Pengabdian. 2020.
3. Sconti A. Digital vs. in-person financial education: What works best for Generation Z? J Econ Behav Organ. 2022;194:300–18.
4. OJK. Survei nasional literasi and inklusi keuangan. Survey Report. 2019;1–26.
5. Natalia DE, Murni S, Untu VN. ANALISIS TINGKAT LITERASI DAN PENGELOLAAN KEUANGAN PRIBADI MAHASISWA DI FAKULTAS EKONOMI DAN BISNIS UNIVERISTAS SAM RATULANGI ANALYSIS OF FINANCIAL LITERACY LEVEL AND PERSONAL FINANCE MANAGEMENT OF STUDENTS AT FACULTY OF ECONOMICS AND BUSINESS SAM RATULANGI UNIVERSITY. Analisis Tingkat… 2131 Jurnal EMBA. 2019;7(2):2131–40.
6. Anasta A. Financial Literacy, Self-Efficacy, and Financial Behaviour of College Students. International Journal of Pedagogy and Teacher Education. 2019;3(2):129–38.
7. Kaiser T, Lusardi A, Menkhoff L, Urban C. Financial education affects financial knowledge and downstream behaviors. J financ econ. 2022;145(2):255–72.
8. Ukhriyawati CF, Mulyati S, Univeristas R, Kepulauan R. Faktor-faktor yang mempengaruhi perilaku manajemen keuangan pelaku usaha kecil di bidang fashion. 2022;4:528–35.
9. Dewi LGK, Yenni Latrini M. Pengaruh Faktor Sosial Ekonomi Dan Materialism pada Personal Financial Behavior melalui Financial Literacy Mahasiswa Akuntansi. E-Jurnal Akuntansi. 2020 Jun 26;30(6):1575.
10. Sadri M, Keguruan ST, Pendidikan I, Maksum A, Sei J, Serangan B, et al. Pemberdayaan Siswa Melalui Edukasi Keuangan Sejak Dini Sebagai Upaya Pembentukan Karakter Cerdas Mengelola Uang. 2019;1(1). Available from: https://doi.org/
11. Pujianti, Tiara. Syaodih, Ernawulan. Djohaeni Henny. PERAN ORANG TUA DALAM MELAKUKAN FINANCIAL EDUCATION PADA ANAK USIA DINI. 2019;16(229):99–108.
12. Miles, Matthew B. Huberman, A Michael. Saldana Johnny. Qualitative Data Analysis. 3rd ed. Salmon Helen, editor. United Kingdom: SAGE Publications; 2014.
13. Yin RK. Qualitative Research from Start to Finish Second Edition. the Guilford Press. 2016.
14. Sari AY, Sa`ida N. Investasi Edukasi Literasi Keuangan untuk Anak Usia Dini di Indonesia. Jurnal Obsesi : Jurnal Pendidikan Anak Usia Dini. 2021 Dec 26;6(3):2085–94.
15. I. Rahmad, D. Dahniarty, A. Dramawan, S. A. Aniharyati, and ..., “The Effect of Health Education on the Level Of Knowledge and Attitude Of Mothers About COVID-19 Prevention at Posyandu of Mpunda Public Health Center of …,” academia.edu, [Online]. Available: https://www.academia.edu/download/93995158/1924.pdf
16. L. T. Sari, N. N. Renityas, and ..., “Empowering The Cadre of Pregnant Women Control Program to Prevent Anemia,” Journal of …, 2021, [Online]. Available: http://download.garuda.kemdikbud.go.id/article.php?article=3409019&val=29913&title=Empowering%20The%20Cadre%20of%20Pregnant%20Women%20Control%20Program%20to%20Prevent%20Anemia
17. A. Weningtyas, P. L. Ma’rufa, and ..., “THE EFFECT OF SHORT COURSE INTERVENTIONS TO IMPROVE KNOWLEDGE OF POSYANDU (INTEGRATED SERVICE POST) CADRES IN EARLY …,” The Indonesian Journal of …, 2023, [Online]. Available: https://e-journal.unair.ac.id/IJPH/article/download/41259/26683
18. R. R. Fatwati, T. Muliadi, I. Mulyani, and ..., “THE EFFECT OF ANTHROPOMETRIC MEASUREMENT TRAINING ON POSYANDU cadres’ KNOWLEDGE IN JOHAN PAHLAWAN DISTRICT,” … , Nursing, Health and …, 2024, [Online]. Available: http://medalionjournal.com/index.php/go/article/view/103
19. M. R. Dianti, F. R. Inayatilah, and R. R. D. Atmaja, “Predilection in Knowledge and Skills of Elderly Posyandu Cadres with Health Examination Training in Tulusrejo Village Lowokwaru Sub-District Malang …,” Pakistan Heart Journal, 2023.
20. R. A. Hidayah, F. D. Oktadewi, B. T. Hartomo, and ..., “The Effectiveness of Dental Health Cadre Training on Increasing the Knowledge of Village Community Dental Health Cadres (UKGMD) in Karangtengah Village …,” Kesmas …, 2024, [Online]. Available: https://jos.unsoed.ac.id/index.php/kesmasindo/article/view/9989
21. K. A. H. Achjar, N. K. Marni, A. S. Lestari, and ..., “Health Education with Leaflet Media on the Level of Knowledge of Mother’s about Toddler Rearing Partners in Stunting Prevention,” Journal of Education …, 2023, [Online]. Available: https://ejournal.undiksha.ac.id/index.php/JERE/article/view/61560
22. N. Dewi, D. Wardani, and D. N. Suhaid, “The Influence of Counseling and Media Leaflets on Increasing Dysmenorrhea Knowledge,” EMBRIO, 2023, [Online]. Available: https://jurnal.unipasby.ac.id/index.php/embrio/article/view/7556
23. F. Etrawati, W. Lionita, E. Amalia, F. Rahmawati, and ..., “Improving the Knowledge of Health Cadres for Stunting Prevention through Emotional Demonstration Technique,” Indonesian Journal of …, 2023, [Online]. Available: https://ijhn.ub.ac.id/index.php/ijhn/article/view/658
24. I. Muflihatin, A. P. Wicaksono, D. R. PM, and ..., “PENINGKATAN KAPASITAS DAN PEMBERDAYAAN KADER POSYANDU DALAM MENURUNKAN STUNTING MELALUI GERAKAN EDOS (Early Detection Of …,” … Terapan Riset Inovatif …, 2021, [Online]. Available: https://proceeding.isas.or.id/index.php/sentrinov/article/view/1113
25. L. L. Djuari, L. Dewanti, N. Nurvita, and ..., “Improvement of Cadre’Skills and Knowledge to Provide Comprehensive Health Services for The Elderly,” Folia Medica …, 2023, [Online]. Available: https://repository.unair.ac.id/128928/
26. N. J. Evawaty, H. Hidayanty, S. Natsir, and ..., “STUNTING PREVENTION BY STRENGTHENING POSYANDU AND FAMILY APPROACH THROUGH HEALTH LITERACY IN MAJENE REGENCY, WEST SULAWESI …,” Chelonian Research …, 2023, [Online]. Available: http://www.acgpublishing.com/index.php/CCB/article/view/78
27. I. Mataram and N. P. Agustini, “Molatisu implementation increasing integrated health post cadre skills under five years old related balance menu preparation,” International …, 2020, [Online]. Available: http://repository.poltekkes-denpasar.ac.id/7044/
28. T. S. Ponidjan, H. H. Damping, and ..., “Improving Cadres Knowledge Through Health Education About Diarrhea Prevention in Children,” Proceeding 2nd …, 2020, [Online]. Available: https://ejurnal.poltekkes-manado.ac.id/index.php/PMHP2nd/article/view/96
29. Johnny. Miles, Matthew B. Huberman, A Michael. Saldana, Qualitative Data Analysis, 3rd ed. United Kingdom: SAGE Publications, 2014.
30. R. K. Yin, Qualitative Research from Start to Finish Second Edition. 2016.
Published
2024-07-19
How to Cite
Mu’afi, M. I., Koorag, S. T. G., & Sagita, V. A. (2024). Parental Influence on Financial Literacy and Behavior of Generation Z Students at UPN Yogyakarta. International Journal on Economics, Finance and Sustainable Development, 6(7), 54-61. https://doi.org/10.31149/ijefsd.v6i7.5295
Section
Articles
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