Abstract

This study aimed to develop and validate instruments for measuring financial behavioral constructs. This study contributes to looking at the habits of university students in managing pocket money earned from parents in daily life. The sample of this study is economic education students at state universities in Indonesia. Data collection was carried out through online questionnaires. Data analysis was carried out in 2 stages, namely, EFA (Exploratory Factor Analysis) in a pilot study of 112 respondents and CFA (Confirmatory Factor Analysis) of 440 respondents in the field study. The results showed that the financial behavior constructs with three dimensions, namely, saving behavior, spending behavior, and financial planning, have met the validity and reliability requirements to be used in future research. Researchers can then review other factors that affect financial behavior so that they can find other factors that can influence it. In addition, this study can also be carried out in various countries, but sufficient data support is needed if the dimensions in this construct will be used in future research.

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