The influence of financial attitudes, locus of control, education on financial management behavior with financial literacy as a moderating variable
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Dec 13, 2023
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Abstract
This study aims to determine the effect of financial attitudes, locus of control, education on financial management behavior with financial literacy as a moderating variable in MSMEs in Medan City, North Sumatra. Data collection using questionnaire distribution. The sampling technique used in this study was accidental random sampling technique. The sample to be used in this study was 100 MSME business actors in Medan city who were assisted by the Cooperative and UKM office of North Sumatra province. The results showed that financial attitudes and locus of control had a positive and significant effect on the financial management behavior of MSMEs in Medan city while education had a negative and insignificant effect on the financial management behavior of MSMEs in Medan city. Furthermore, financial literacy does not moderate the relationship between financial attitudes, locus of control and education on the financial management behavior of MSMEs in Medan City, North Sumatra. Because the results of this study indicate the absence of a moderating relationship, the moderating variable in this model is thought to have a direct effect because the effect of financial literacy on financial management behavior shows because the calculated T value is 3.034> 1.96 and the P value is 0.001 <0.05 so that researchers propose to use mediating variables for further research.
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How to Cite
Hutapea, H. D., Manurung, A., & Sitompul, A. S. (2023). The influence of financial attitudes, locus of control, education on financial management behavior with financial literacy as a moderating variable. Enrichment : Journal of Management, 13(5), 2991-3000. https://doi.org/10.35335/enrichment.v13i5.1730
References
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Arifin, A. Z. (2017). The influence of financial knowledge, control and income on individual financial behavior. European Research Studies Journal, 20(3), 635–648.
Darmawan, A., Suyoto, Widhiandono, H., Utami, N. H., Razak, A. A. Z. A., & Ab Wahid, H. (2018). The Effect of Financial Literacy, Financial Experience, and Locus of Control Towards Financial Management Attitude and Family Investment Planning Behavior. Proceedings International Conference of Business, Accounting and Economic (ICBAE UMP 2018), April, 206–215.
Darmayani, D., & Herianti, E. (2017). Pengaruh Tingkat Kepatuhan Wajib Pajak Badan Terhadap Peningkatan Penerimaan Pajak Penghasilan Dengan Penagihan Pajak Sebagai Variabel Moderating (Pada KPP Pratama Cilandak Jakarta Selatan). InFestasi, 13(1), 275. https://doi.org/10.21107/infestasi.v13i1.3049
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Devi lisna, Mulyati, S., & Kurniawan, A. (2021). PENGARUH FINANCIAL LITERACY, LIFE STYLE, LOCUS OF CONTROL DAN DEMOGRAFI TERHADAP PERILAKU KONSUMTIF GENERASI MILENIAL DI KOTA SUBANG. JASS (Journal of Accounting for Sustainable Society), 2(02). https://doi.org/10.35310/jass.v2i02.671
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Dwiastanti, A. (2017). Analysis of Financial Knowledge and Financial Attitude on Locus of Control and Financial Management Behavior. Management and Business Review, 1(1), 1–8.
Dwinta, I. dan C. Y. (2010). Pengaruh Locus Of Control, Financial Knowledge, Income Terhadap Financial Management Behavior. Jurnal Bisnis Dan Akuntansi, 12(3), 131–144.
Elvira Unola, N. L. (2014). Analisa Hubungan Faktor Demografi Dengan Perencanaan Dana Pendidikan dan Dana Pensiun Pada Masyarakat Ambon. Finesta.
Estuti1, E. P., Rosyada, I., & 2, F. F. (2021). Pengaruh Pengetahuan Keuangan Dan Pendidikan Keuangan Di Keluarga Terhadap Pengelolaan Keuangan Mahasiswa Di Surabaya. JURNAL CAPITAL, 1, 1–14.
Ghozali & Latan. (2015). Konsep, Teknik, Aplikasi Menggunakan Smart PLS 3.0 Untuk Penelitian Empiris. BP Undip.
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Humaira, I., & Sagoro, E. M. (2018). Pengaruh Pengetahuan Keuangan, Sikap Keuangan, Dan Kepribadian Terhadap Perilaku Manajemen Keuangan Pada Pelaku Umkm Sentra Kerajinan Batik Kabupaten Bantul. Nominal, Barometer Riset Akuntansi Dan Manajemen, 7(1). https://doi.org/10.21831/nominal.v7i1.19363
Kebede, M., Kaur, N. jit D., & Kuar, J. (2015). Financial literacy and management of personal finance : A review of recent literatures. Research Journal of Finance and Accounting, 6(13), 92–107. http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.846.2959&rep=rep1&type=pdf
Kholilah, N. Al, & Iramani, Rr. (2013). Studi Financial Management Behavior Pada Masyarakat Surabaya. Journal of Business and Banking, 3(1), 69. https://doi.org/10.14414/jbb.v3i1.255
Marianne A. Hilgert and Jeanne M. Hogarth. (2003). Household Financial Management: The Connection between Knowledge and Behavio. Federal Reserve Bulletin. https://doi.org/10.15381/rivep.v20i2.609
Mulyani, I., & Desmintari. (2020). Determinan perilaku manajemen keuangan umkm binaan kpw bank indonesia provinsi dki jakarta. KORELASI I (Konferensi Riset Nasional Ekonomi, Manajemen, Dan Akuntansi I), 1, 999–1010.
Navickas, M., Gudaitis, T., & Krajnakova, E. (2014). Influence of financial literacy on management of personal finances in a young household. Business: Theory and Practice, 15(1), 32–40. https://doi.org/10.3846/btp.2014.04
Nisa, F. K., Salim, M. A., & Priyono, A. A. (2020). Pengaruh Pengetahuan Keuangan, Sikap Keuangan, Dan Kepribadian Terhadap Perilaku Manajemen Keuangan Pada Pelaku UMKM Ekonomi Kreatif Sub Sektor Kuliner Kabupaten Malang. E – Jurnal Riset Manajemen, 9(7), 93–106.
Nobriyani, A. P., & Haryono, N. A. (2019). Faktor-Faktor yang Memengaruhi Financial Management Behavior pada Keluarga TKI di Kabupaten Ponorogo. Jurnal Ilmu Manajemen Universitas Negeri Surabaya, 7(3), 841–856.
Novianti, S. (2019). Pengaruh Locus of Control, Financial Knowledge, Income Terhadap Financial Management Behavior. Jurnal Akuntansi Kompetif, 2(1), 1–10. https://doi.org/10.35446/akuntansikompetif.v2i1.278
Okezone.com. (2021). Pengetahuan Keuangan Pelaku UMKM Masih Rendah. Https://Economy.Okezone.Com/Read/2021/08/19/320/2458010/Pengetahuan-Keuangan-Pelaku-Umkm-Masih-Rendah.
Paramita, K., Wahyudi, W., & Fadila, A. (2020). Determinan Perilaku Pengelolaan Keuangan pada Pelaku Industri Kecil Menengah. Studi Akuntansi Dan Keuangan Indonesia, 3(2), 213–232. https://doi.org/10.21632/saki.3.2.213-232
Perry, V. G., & Morris, M. D. (2005). Who is in control? the role of self-perception, knowledge, and income in explaining consumer financial behavior. Journal of Consumer Affairs, 39(2), 299–313. https://doi.org/10.1111/j.1745-6606.2005.00016.x
Pheng, Y. E., Ping, T. A., & Ramayah, T. (2019). Acceptance of Trade Finance Digitalization among SMEs in Malaysia: A Conceptual Model. 119–123. https://doi.org/10.5220/0008489101190123
Pradiningtyas, T. E., & Lukiastuti, F. (2019). Pengaruh Pengetahuan Keuangan dan Sikap Keuangan terhadap Locus of Control dan Perilaku Pengelolaan Keuangan Mahasiswa Ekonomi. Jurnal Minds: Manajemen Ide Dan Inspirasi, 6(1), 96. https://doi.org/10.24252/minds.v6i1.9274
Prihartono, M. R. D., & Asandimitra, N. (2018). Analysis Factors Influencing Financial Management Behaviour. International Journal of Academic Research in Business and Social Sciences, 8(8), 308–326. https://doi.org/10.6007/ijarbss/v8-i8/4471
Ramadhan, A. Y., & Asandimitra, N. (2019). Determinants of Financial Management Behavior of Millennial Generation in Surabaya. Jurnal Minds: Manajemen Ide Dan Inspirasi, 6(2), 129. https://doi.org/10.24252/minds.v6i2.9506
Risnaningsih, R. (2017). Pengelolaan Keuangan Usaha Mikro Dengan Economic Entity Concept. Jurnal Analisa Akuntansi Dan Perpajakan, 1(1), 41–50. https://doi.org/10.25139/jaap.v1i1.97
Sardogan, E. M., Kaygusuz, C., & Karahan, T. F. (2006). A human relations skills training program, university students’ locus of control levels. Mersin University Journal of the Faculty of Education, 2(2), 11. https://www.researchgate.net/publication/327897215_The_Influence_of_Locus_of_Control_and_Financial_Knowledge_to_Employee_Investing_Decision_PT_Pertamina_Persero_Branch_of_Padang%0Ahttps://www.atlantis-press.com/proceedings/piceeba-18/25902676
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Thaler, R. (1985). Mental Accounting and Consumer Choice. Marketing Science, 4(3), 199–214. https://doi.org/10.1287/mksc.4.3.199
Thi Ngoc, M., & Tran thuong, T. (2015). Factors Affecting Personal Financial Management Behaviors: Evidence from Vietnam. Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference), Paper ID:, 16. http://globalbizresearch.org/Vietnam_Conference/pdf/VL532.pdf
Tri Kurniati Khairunnisa, Gatot Nazir Ahmad, & Etty Gurendawati. (2020). Pengaruh Religiusitas, Preferensi Risiko, Dan Locus of Control Terhadap Perilaku Keuangan Dan Dampaknya Terhadap Personal Financial Distress Pada Pekerja Muda Di Dki Jakarta. JRMSI - Jurnal Riset Manajemen Sains Indonesia, 11(2), 381–403. https://doi.org/10.21009/jrmsi.011.2.010
Wardani, A. K., & Lutfi, L. (2019). Pengaruh literasi keuangan, experienced regret, risk tolerance, dan motivasi pada keputusan investasi keluarga dalam perspektif masyarakat Bali. Journal of Business & Banking, 6(2). https://doi.org/10.14414/jbb.v6i2.996
Wisnu Setyawan; Siska Wulandari. (2020). Peran Sikap Keuangan dalam Mengintervensi Pengaruh Literasi Keuangan Terhadap Perilaku Manajemen Keuangan Pekerja di Cikarang. Jurnal Sekuritas, 4(1), 15.
Zulaihati, S., Susanti, S., & Widyastuti, U. (2020). Teachers’ financial literacy: Does it impact on financial behaviour? Management Science Letters, 10(3), 653–658. https://doi.org/10.5267/j.msl.2019.9.014
Alexander, R., & Pamungkas, A. S. (2019). Pengaruh Pengetahuan Keuangan, Lokus Pengendalian Dan Pendapatan Terhadap Perilaku Keuangan. Jurnal Manajerial Dan Kewirausahaan, 1(1), 157–164. https://journal.untar.ac.id/index.php/JMDK/article/view/2798
Andew, V. dan L. Nanik. (2014). Hubungan Faktor Demgrafi dan Pengetahuan Keuangan Dengan Perilaku Keuangan Karyawan Swasta di Surabaya. FINESTA, 20.
Ari Susanti , Ismunawan, Pardi, E. A. (2017). Tingkat Pendidikan, Literasi Keuangan, Dan Perencanaan Keuangan Terhadap Perilaku Keuangan Umkm Di Surakarta. TELAAH BISNIS, 18(1), 45–56.
Arifin, A. Z. (2017). The influence of financial knowledge, control and income on individual financial behavior. European Research Studies Journal, 20(3), 635–648.
Darmawan, A., Suyoto, Widhiandono, H., Utami, N. H., Razak, A. A. Z. A., & Ab Wahid, H. (2018). The Effect of Financial Literacy, Financial Experience, and Locus of Control Towards Financial Management Attitude and Family Investment Planning Behavior. Proceedings International Conference of Business, Accounting and Economic (ICBAE UMP 2018), April, 206–215.
Darmayani, D., & Herianti, E. (2017). Pengaruh Tingkat Kepatuhan Wajib Pajak Badan Terhadap Peningkatan Penerimaan Pajak Penghasilan Dengan Penagihan Pajak Sebagai Variabel Moderating (Pada KPP Pratama Cilandak Jakarta Selatan). InFestasi, 13(1), 275. https://doi.org/10.21107/infestasi.v13i1.3049
Dayanti, F. K., Susanti, J., & S, M. K. A. B. (2020). Pengaruh Literasi Keuangan, Pengetahuan Keuangan Dan Sikap Keuangan Terhadap Perilaku Manajemen Keuangan Pada Pelaku Usaha UMKM Fashion Di Kabupaten Malang. Jurnal Riset Manajemen Fakultas Ekonomi Unisma, 160–174.
Devi lisna, Mulyati, S., & Kurniawan, A. (2021). PENGARUH FINANCIAL LITERACY, LIFE STYLE, LOCUS OF CONTROL DAN DEMOGRAFI TERHADAP PERILAKU KONSUMTIF GENERASI MILENIAL DI KOTA SUBANG. JASS (Journal of Accounting for Sustainable Society), 2(02). https://doi.org/10.35310/jass.v2i02.671
Djou, L. G. (2019). Analisis pengaruh literasi keuangan, sikap keuangan dan kepribadian terhadap perilaku pengelolaan keuangan UMKM di Kabupaten Ende. Jurnal Magisma, 7(2), 1–12. http://jurnal.stiebankbpdjateng.ac.id
Dwiastanti, A. (2017). Analysis of Financial Knowledge and Financial Attitude on Locus of Control and Financial Management Behavior. Management and Business Review, 1(1), 1–8.
Dwinta, I. dan C. Y. (2010). Pengaruh Locus Of Control, Financial Knowledge, Income Terhadap Financial Management Behavior. Jurnal Bisnis Dan Akuntansi, 12(3), 131–144.
Elvira Unola, N. L. (2014). Analisa Hubungan Faktor Demografi Dengan Perencanaan Dana Pendidikan dan Dana Pensiun Pada Masyarakat Ambon. Finesta.
Estuti1, E. P., Rosyada, I., & 2, F. F. (2021). Pengaruh Pengetahuan Keuangan Dan Pendidikan Keuangan Di Keluarga Terhadap Pengelolaan Keuangan Mahasiswa Di Surabaya. JURNAL CAPITAL, 1, 1–14.
Ghozali & Latan. (2015). Konsep, Teknik, Aplikasi Menggunakan Smart PLS 3.0 Untuk Penelitian Empiris. BP Undip.
Hair, J. F. et. al. (2017). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM). SAGEPublications.
Humaira, I., & Sagoro, E. M. (2018). Pengaruh Pengetahuan Keuangan, Sikap Keuangan, Dan Kepribadian Terhadap Perilaku Manajemen Keuangan Pada Pelaku Umkm Sentra Kerajinan Batik Kabupaten Bantul. Nominal, Barometer Riset Akuntansi Dan Manajemen, 7(1). https://doi.org/10.21831/nominal.v7i1.19363
Kebede, M., Kaur, N. jit D., & Kuar, J. (2015). Financial literacy and management of personal finance : A review of recent literatures. Research Journal of Finance and Accounting, 6(13), 92–107. http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.846.2959&rep=rep1&type=pdf
Kholilah, N. Al, & Iramani, Rr. (2013). Studi Financial Management Behavior Pada Masyarakat Surabaya. Journal of Business and Banking, 3(1), 69. https://doi.org/10.14414/jbb.v3i1.255
Marianne A. Hilgert and Jeanne M. Hogarth. (2003). Household Financial Management: The Connection between Knowledge and Behavio. Federal Reserve Bulletin. https://doi.org/10.15381/rivep.v20i2.609
Mulyani, I., & Desmintari. (2020). Determinan perilaku manajemen keuangan umkm binaan kpw bank indonesia provinsi dki jakarta. KORELASI I (Konferensi Riset Nasional Ekonomi, Manajemen, Dan Akuntansi I), 1, 999–1010.
Navickas, M., Gudaitis, T., & Krajnakova, E. (2014). Influence of financial literacy on management of personal finances in a young household. Business: Theory and Practice, 15(1), 32–40. https://doi.org/10.3846/btp.2014.04
Nisa, F. K., Salim, M. A., & Priyono, A. A. (2020). Pengaruh Pengetahuan Keuangan, Sikap Keuangan, Dan Kepribadian Terhadap Perilaku Manajemen Keuangan Pada Pelaku UMKM Ekonomi Kreatif Sub Sektor Kuliner Kabupaten Malang. E – Jurnal Riset Manajemen, 9(7), 93–106.
Nobriyani, A. P., & Haryono, N. A. (2019). Faktor-Faktor yang Memengaruhi Financial Management Behavior pada Keluarga TKI di Kabupaten Ponorogo. Jurnal Ilmu Manajemen Universitas Negeri Surabaya, 7(3), 841–856.
Novianti, S. (2019). Pengaruh Locus of Control, Financial Knowledge, Income Terhadap Financial Management Behavior. Jurnal Akuntansi Kompetif, 2(1), 1–10. https://doi.org/10.35446/akuntansikompetif.v2i1.278
Okezone.com. (2021). Pengetahuan Keuangan Pelaku UMKM Masih Rendah. Https://Economy.Okezone.Com/Read/2021/08/19/320/2458010/Pengetahuan-Keuangan-Pelaku-Umkm-Masih-Rendah.
Paramita, K., Wahyudi, W., & Fadila, A. (2020). Determinan Perilaku Pengelolaan Keuangan pada Pelaku Industri Kecil Menengah. Studi Akuntansi Dan Keuangan Indonesia, 3(2), 213–232. https://doi.org/10.21632/saki.3.2.213-232
Perry, V. G., & Morris, M. D. (2005). Who is in control? the role of self-perception, knowledge, and income in explaining consumer financial behavior. Journal of Consumer Affairs, 39(2), 299–313. https://doi.org/10.1111/j.1745-6606.2005.00016.x
Pheng, Y. E., Ping, T. A., & Ramayah, T. (2019). Acceptance of Trade Finance Digitalization among SMEs in Malaysia: A Conceptual Model. 119–123. https://doi.org/10.5220/0008489101190123
Pradiningtyas, T. E., & Lukiastuti, F. (2019). Pengaruh Pengetahuan Keuangan dan Sikap Keuangan terhadap Locus of Control dan Perilaku Pengelolaan Keuangan Mahasiswa Ekonomi. Jurnal Minds: Manajemen Ide Dan Inspirasi, 6(1), 96. https://doi.org/10.24252/minds.v6i1.9274
Prihartono, M. R. D., & Asandimitra, N. (2018). Analysis Factors Influencing Financial Management Behaviour. International Journal of Academic Research in Business and Social Sciences, 8(8), 308–326. https://doi.org/10.6007/ijarbss/v8-i8/4471
Ramadhan, A. Y., & Asandimitra, N. (2019). Determinants of Financial Management Behavior of Millennial Generation in Surabaya. Jurnal Minds: Manajemen Ide Dan Inspirasi, 6(2), 129. https://doi.org/10.24252/minds.v6i2.9506
Risnaningsih, R. (2017). Pengelolaan Keuangan Usaha Mikro Dengan Economic Entity Concept. Jurnal Analisa Akuntansi Dan Perpajakan, 1(1), 41–50. https://doi.org/10.25139/jaap.v1i1.97
Sardogan, E. M., Kaygusuz, C., & Karahan, T. F. (2006). A human relations skills training program, university students’ locus of control levels. Mersin University Journal of the Faculty of Education, 2(2), 11. https://www.researchgate.net/publication/327897215_The_Influence_of_Locus_of_Control_and_Financial_Knowledge_to_Employee_Investing_Decision_PT_Pertamina_Persero_Branch_of_Padang%0Ahttps://www.atlantis-press.com/proceedings/piceeba-18/25902676
Siti Surhayani. (2021). PENGARUH LITERASI KEUANGAN, TINGKAT PENDIDIKAN, PENDAPATAN DAN SIKAP KEUANGAN TERHADAP PERILAKU PENGELOLAAN KEUANGAN (STUDI KASUS UMKM KABUPATEN BEKASI).
Thaler, R. (1985). Mental Accounting and Consumer Choice. Marketing Science, 4(3), 199–214. https://doi.org/10.1287/mksc.4.3.199
Thi Ngoc, M., & Tran thuong, T. (2015). Factors Affecting Personal Financial Management Behaviors: Evidence from Vietnam. Proceedings of the Second Asia-Pacific Conference on Global Business, Economics, Finance and Social Sciences (AP15Vietnam Conference), Paper ID:, 16. http://globalbizresearch.org/Vietnam_Conference/pdf/VL532.pdf
Tri Kurniati Khairunnisa, Gatot Nazir Ahmad, & Etty Gurendawati. (2020). Pengaruh Religiusitas, Preferensi Risiko, Dan Locus of Control Terhadap Perilaku Keuangan Dan Dampaknya Terhadap Personal Financial Distress Pada Pekerja Muda Di Dki Jakarta. JRMSI - Jurnal Riset Manajemen Sains Indonesia, 11(2), 381–403. https://doi.org/10.21009/jrmsi.011.2.010
Wardani, A. K., & Lutfi, L. (2019). Pengaruh literasi keuangan, experienced regret, risk tolerance, dan motivasi pada keputusan investasi keluarga dalam perspektif masyarakat Bali. Journal of Business & Banking, 6(2). https://doi.org/10.14414/jbb.v6i2.996
Wisnu Setyawan; Siska Wulandari. (2020). Peran Sikap Keuangan dalam Mengintervensi Pengaruh Literasi Keuangan Terhadap Perilaku Manajemen Keuangan Pekerja di Cikarang. Jurnal Sekuritas, 4(1), 15.
Zulaihati, S., Susanti, S., & Widyastuti, U. (2020). Teachers’ financial literacy: Does it impact on financial behaviour? Management Science Letters, 10(3), 653–658. https://doi.org/10.5267/j.msl.2019.9.014