Abstract
Islamic financial planning is a making process of financial planning in prudence to make it compatible with Islamic law in order to achieve the level of Al-Falah, that is the blessing of dunya and the salvation of akhira. Yet, with the importance of Islamic financial planning, the individuals who apply the Islamic financial planning in managing their wealth are still rare. So that this research intends to discover the influence of Islamic financial literacy towards each individual’s Islamic financial planning, and moderation effects given by the big five personality trait. The researcher used the simple regression test to find out the Islamic financial literacy effects towards the Islamic financial planning, and used the analysis of moderated multiple regression (MMR) to take the idea that the big five personality trait can moderate the Islamic financial literacy effects towards the Islamic financial planning. The data is collected by using the survey technique through questionnaire distribution to 115 moslem entrepreneurs in Bandung area. The result of this research shows that the Islamic financial literacy influences the Islamic financial planning significantly, and the big five personality trait partially moderates that influence. Furthermore, the conscientiousness and opennes to experience personality trait moderate the influence of Islamic financial literacy towards Islamic financial planning, while the other three of big five personality trait do not moderate.
Highlights
Wealth is a deposit from Allah Subḥānahū wa taālā
The hypothesis of this study states that the Islamic financial literation significantly affects toward the application of Islamic financial planning, Big Five personality traits simultaneously moderates the influence of Islamic financial literation toward Islamic financial planning, and the personality traits of openness to experience, conscientiousness, extraversion, agreeableness, and neuroticism partially can moderate the influence of Islamic financial literation toward Islamic financial planning on the moslem entrepreneurs in Bandung Area
Through analysis, it can be concluded that there is an influence between Islamic financial literacy and the application of Islamic financial planning and the big five partially can moderate the influence
Summary
Wealth is a deposit from Allah Subḥānahū wa taālā. We are not allowed to be arbitrary in using it. The hypothesis of this study states that the Islamic financial literation significantly affects toward the application of Islamic financial planning, Big Five personality traits simultaneously moderates the influence of Islamic financial literation toward Islamic financial planning, and the personality traits of openness to experience, conscientiousness, extraversion, agreeableness, and neuroticism partially can moderate the influence of Islamic financial literation toward Islamic financial planning on the moslem entrepreneurs in Bandung Area. The result of this study is expected to be able to provide a view, especially for the financial planner and, generally, for the moslem society, the factors that affect the application of Islamic financial planning, in order to take the right steps ahead in making the Islamic financial planning that is in accordance with the personality and the literation level
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