Philippine E-Journals

Financial Education, Economics Learning and Financial Literacy Affect Financial Behavior of High School Students in Surabaya, Indonesia

Susanti Otto

 

Abstract:

Financial literacy is often defined as the individual ability to use knowledge to manage finance. Financial literacy is regarded as the important ability a child must acquire since early childhood. Te present research is designed with the use of the quantitative approach. The sample consists of 280 students of the public senior high school in Surabaya, Indonesia. Data were analyzed using path analysis technique and structured based on SEM (Structural Equation Modelling) with the assistance of the application program of LISREL 8.80 for Windows NT. It shows that financial education in the family, economics learning in school, and peer do not affect the financial literacy of public senior high school students in Surabaya,
Indonesia. However, financial education in the family and economics learning in school affects the financial behavior of public senior high school students in Surabaya, Indonesia. Te results also showed that peer and financial literacy affect the financial behavior of public senior high school student in Surabaya. Furthermore, financial education in family and economics learning in school do not significantly affect financial behavior through the financial literacy of public senior high school students in Surabaya. Finally, Peer doesn’t affect the financial behavior through the financial literacy of public senior high school students in Surabaya, Indonesia.