Influence of Financial Literacy and Use of Financial Technology on Financial Satisfaction through Financial Behavior

Tony Seno Aji,Yoyok Soesatyo,Mamik Nur Farida

doi:10.7575/aiac.ijels.v.9n.1p.86

Tony Seno Aji, Yoyok Soesatyo + Show 1 more

Open Access

https://doi.org/10.7575/aiac.ijels.v.9n.1p.86

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Abstract

Financial behavior is a means by which a person treats, manages, and uses available financial resources. This research aims to determine the effect of financial literacy and the use of financial technology on financial satisfaction through financial behavior as an intervening factor. Data were collected from 112 economics teachers using purposive proportional random sampling technique. Structural Equation Modeling (SEM) with AMOS 26 software was used to analyze the data. The results of this research indicate that financial literacy has no effect on financial behavior, but the use of financial technology has an effect on financial behavior, financial literacy and the use of financial technology has an effect on satisfaction finance. It was also found that financial literacy and the use of financial technology were mediated by financial behavior. Finally, use of financial technology had no effect on financial satisfaction through financial behavior as an intervening variable. These results have useful practical and theoretical implications.

Highlights

The ability of a person to manage their finances is one of the important factors to achieve success in life
The results of this research indicate that financial literacy has no effect on financial behavior, but the use of financial technology has an effect on financial behavior, financial literacy and the use of financial technology has an effect on satisfaction finance
It was found that financial literacy and the use of financial technology were mediated by financial behavior

Summary

Introduction

The ability of a person to manage their finances is one of the important factors to achieve success in life. When someone has the knowledge and ability to manage finances and behave well with financial problems, financial satisfaction will be achieved, especially if it is supported by the use of financial technology that makes it easier for people to make transactions and to obtain financing. The development of digital technology in the financial sector or financial technology gives convenience for users in making transactions. Financial technology as an innovation in financial services purposes to make it easier for people to access financial products and facilitate transactions. Performance improvement creates a sense of satisfaction for financial technology users. Financial technology can increase financial satisfaction for users (Hieminga et al, 2016)

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