The Influence of Financial Attitude and Financial Socialization Agent on Financial Behavior with Financial Self Efficacy as Moderating Variables (Study on Students Who are Boarding in the City of Medan)

Abstract

Financial behavior is a reality that must be faced by every individual in everyday life. Where every individual must behave financially well in order to balance between income and expenses so that they can meet the needs of life and not get caught in financial difficulties. Students are individuals who behave poorly with their finances. Students still have a soul that is still unstable and easily influenced by the surrounding environment. Students often have complex financial problems, because most students do not have limited income and reserves to use every month. Especially for students who have not worked and only get some money from their parents. The purpose of this study was to analyze the effect of financial attitude and financial socialization agents on the financial behavior of students who are boarding and studying in Medan with financial self-efficacy as a moderating variable. The type of research used is quantitative research with a descriptive approach. The population in this study were students who were boarding and studying in Medan. The determination of the sample size follows the rules in the PLS with a total of 100 respondents. The sampling technique used is non-probability sampling with method incidental sampling. The questionnaire that has been filled in by the respondent will then be processed using PLS (Partial Least Square). The results show that financial attitude has a positive and significant effect on financial behavior, financial self-efficacy has a positive and significant effect on financial behavior, and financial socialization agents have no significant effect on financial behavior. The results of the moderation test state that financial self-efficacy is a moderating variable for the relationship between financial attitude and financial behavior. Still, the results of the moderation test state that financial self-efficacy is not a moderating variable for the relationship between financial socialization agents and financial behavior. All independent variables are able to influence Y by 81.8% while the remaining 18.2% is explained by other variables not examined in this study. Keywords: Financial Behavior, Financial Attitude, Financial Self Efficacy, Financial Socialization Agents.