Determinants of Financial Management Behavior among E-Wallet-Using Management Students at UPN “Veteran” Yogyakarta

Radheuna Rahmayanti; Khoirul Hikmah

doi:10.37034/jems.v9i1.574

Authors

Radheuna Rahmayanti UPN "Veteran" Yogyakarta
Khoirul Hikmah UPN "Veteran" Yogyakarta

DOI:

https://doi.org/10.37034/jems.v9i1.574

Keywords:

Financial Knowledge, Financial Attitude, Personality, Financial Management Behavior, E-Wallet

Abstract

The swift expansion of digital payment adoption in Indonesia, particularly through electronic wallets (e-wallets), has changed how students conduct daily financial transactions, yet this convenience does not always correspond with sound financial management. This study aims to investigate the impact of financial knowledge, financial attitude, and personality on financial management behavior, both partially and simultaneously. The object of this study is management students at UPN “Veteran” Yogyakarta who use e-wallets, drawn from a population of 1,430 students of the 2023–2024 cohort. The smallest required sample size was calculated using Slovin’s formula with a 5% error margin, yielding 313 respondents; a purposive sampling technique produced 316 valid respondents, and the data were analyzed using multiple linear regression. The findings indicate that financial attitude and personality each have a significant positive effect on financial management behavior, while financial knowledge has no significant effect; simultaneously, all three variables significantly affect financial management behavior and explain 62.5% of its variance. The financial attitude result supports research showing that a controlled financial attitude helps limit spending, while the personality result aligns with studies emphasizing self-control and future orientation, although it contrasts with research reporting no significant personality effect. These findings indicate that financial knowledge alone is not sufficient to drive sound financial management, so financial education should be combined with attitude- and character-building programs.

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