The Role of Gender, Financial Socialization and Student Consumption Experiences in Shaping Financial Literacy Among Youth

DOI

10.2991/assehr.k.211102.151How to use a DOI?

Keywords

Gender; Student; Financial; Literacy

Abstract

The rapid development of financial products and services requires consumers to be able to make decisions that are more complex than before (Bannier & Schwarz, 2018). This has attracted many researchers and policy makers to increase financial literacy to change people's consumption habits to be more positive (Cameron et al., 2014; Garg & Singh, 2017; Lopus et al., 2019; Pahlevan Sharif & Naghavi, 2020; Popovich et al., 2020). Financial literacy is the ability to understand and use financial knowledge to make financial decisions (Huston, 2010; Pahlevan Sharif & Naghavi, 2020). This study tried to determine the effect of gender, financial socialization and student consumption experiences on financial literacy among youth, especially among undergraduate students. Undergraduate students were chosen because in general they started to move away from their parents and started managing their own finances. The research design used was quantitative research methods. The population in this study were all students of the Faculty of Economics, State University of Semarang, with a total number of 355 students. Samples were determined randomly based on the Slovin method and obtained a sample of 190 economics students. All data were collected using questionnaires. Multiple regression analysis using IBM SPSS v.21 software was used to analyze the data. The results showed that gender had no effect on student financial literacy. Meanwhile, financial socialization and student consumption experiences affected financial literacy by 43% and 22%, respectively. From the results of this study, it can be recommended that to improve financial literacy a more massive financial socialization is needed. Meanwhile, opening up opportunities for access to finance for students will provide the necessary experience to improve financial literacy.

Copyright

© 2021 The Authors. Published by Atlantis Press SARL.

Open Access

This is an open access article under the CC BY-NC license.

Download article (PDF)

TY  - CONF
AU  - Risma Nur Anissa
AU  - Suryo Ediyono
PY  - 2021
DA  - 2021/11/16
TI  - The Role of Gender, Financial Socialization and Student Consumption Experiences in Shaping Financial Literacy Among Youth
BT  - Proceedings of the 1st International Conference on Research in Social Sciences and Humanities (ICoRSH 2020)
PB  - Atlantis Press
SP  - 1097
EP  - 1101
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.211102.151
DO  - 10.2991/assehr.k.211102.151
ID  - Anissa2021
ER  -