STUDENTS' SAVING BEHAVIOUR: WHAT ARE THE MOTIVES THAT INFLUENCE THEM TO SAVE?

STUDENTS' SAVING BEHAVIOUR: WHAT ARE THE MOTIVES THAT INFLUENCE THEM TO SAVE?

financial literacy, peer influence, parental socialization, self-control, saving behaviour

This study aims to determine the determinants of saving behavior using financial literacy as a mediating variable. The endogenous variable in this study was saving behavior, while the exogenous
variables were financial literacy, parental socialization, peer influence, and self-control. The respondents were 300 students from the Faculty of Economics of Indonesia. Data were analyzed by
Structural Equation Modelling (SEM) using STATA software. The results show that parental socialization and peer influence positively affect financial literacy, whereas self-control does not.
Financial literacy directly affects saving behavior. Parental socialization and peer influence directly influence saving behavior. The results provide a new understanding of the importance of financial literacy in encouraging student-saving behavior. The role of parents and peers in the environment is essential for improving students’ financial literacy and saving behavior. The banking industry can play a role in increasing financial literacy through collaboration with universities through a virtual account program and the socialization of savings to students. It is also an opportunity for saving service providers to introduce their products to consumers early

Ulil Hartono, Yuyun Isbanah

DOI : http://dx.doi.org/10.26418/jebik.v11i3.56561

Univ. Tanjungpura

31-12-2022

Sri Wahyuni

P-ISSN : 2087-9954, E-ISSN : 2550-0066

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Jurnal Ekonomi Bisnis dan Kewirausahaan (JEBIK) Univ. Tanjungpura 2022