What are the factors of unhealthy financial behavior in the Muslim community of Metro Lampung City?
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May 2, 2023
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Abstract
Financial behavior is one of the important things to be able to control personal finances, if healthy and good financial behavior can certainly manage cash flow well, the opposite can happen. Healthy and good financial behavior can certainly climb the level of prosperity. However, unhealthy and bad financial behavior will definitely reduce welfare status. Unhealthy financial behavior in this study is caused by people who are entangled in debts, have a consumptive nature, and have low self-awareness toward saving activities. The purpose of this study is to recommend to the Regional Government and the Central Government synergize with each other, building the mindset of the people on the outskirts of the metro city to rise together to climb the ladder of prosperity. The government is expected to be able to provide soft skill training for these people because most of the jobs for the people on the outskirts of Metro City are as laborers in the market. The results of this study, factors that lead to unhealthy financial behavior are caused by a low understanding of financial literacy because these people do not understand saving activities at the bank, do not understand insurance, and investment, have insufficient financial income, understand poor financial attitudes unfavorable and the influence of a strong external locus of control so that the outskirts of Metro City are entangled in debt and unhealthy financial behavior.
Keywords: Financial Literacy, Financial Attitude, Income, Locus Of Control, Financial Behavior
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NurlailiN. (2023). What are the factors of unhealthy financial behavior in the Muslim community of Metro Lampung City?. Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah, 6(1), 236-250. https://doi.org/10.47467/alkharaj.v6i1.3563
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References
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Sukoco, D. (2021). Sharia Economic Views on Tabzir Behavior. Al-Iktisab, 5(2), 149–158.
Tang, N., & Baker, A. (2016). Self-esteem, financial knowledge and financial behavior. Journal of Economic Psychology, 54, 164–176.
Thi, N., Mien, N., & Thao, T. P. (2015). Factors Affecting Personal Financial Management Behaviors: Evidence from Vietnam. Economics, Finance and Social Sciences, 978–1.
Torrente, M. F. V. (2015). The Unbankables: Assessing financial literacy and financial behavior of BPI Globe BanKO customers. De La Salle University Manila.
W.Fred Van Raaij. (2016). Understanding Consumer Financial Behavior. Palgrave Macmilla.
Yap, R. J. C., Komalasari, F., & Hadiansah, I. (2018). The Effect of Financial Literacy and Attitude on Financial Management Behavior and Satisfaction. Bisnis & Birokrasi Journal, 23(3).
Yong, C. C., Yew, S. Y., & Wee, C. K. (2018). Financial knowledge, attitude and behaviour of young working adults in Malaysia. Institutions and Economies, 10(4), 21–48.
Zunaidi, A., & Maghfiroh, F. L. (2021). The Role Of Women In Improving The Family Economy. Dinar: Jurnal Ekonomi Dan Keuangan Islam, 8(1), 61–79.
Alexandro, R. (2019). Factors affecting student financial behavior in Indonesia. American Journal of Social Sciences and Humanities, 4(2), 380–391.
Allgood, S. A., & Walstad, W. (2012). The Effects of Perceived and Actual Financial Literacy on Financial Behaviors. In SSRN Electronic Journal.
Ameliawati, M., & Setiyani, R. (2018). The Influence of Financial Attitude, Financial Socialization, and Financial Experience to Financial Management Behavior with Financial Literacy as the Mediation Variable. KnE Social Sciences. https://doi.org/10.18502/kss.v3i10.3174
Anufia, B., & Alhamid, T. (2019). Instrumen Pengumpulan Data.
Arifin, A. Z. (2017). the Affect of Financial Atittude, Locus of Control and Income on Financial Behavior. International Conference on Economic, Business, and Accounting, XX(3A), 635–648.
Arifin, A. Z., Anastasia, I., Siswanto, H. P., & Henny, . (2019). The Effects of Financial Attitude, Locus of Control, and Income on Financial Behavior. 59–66.
Arifin, A. Z., Kevin, & Siswanto, H. P. (2017). The Influence of Financial Knowledge, Financial Confidence, and Income on Financial Behavior Among the Workforce Jakarta. MIX: Jurnal Ilmiah Manajemen, Vol. VII(No. 1), 37–47.
Becker, G. S. (1996). Accounting for tastes. Harvard University Press.
Beverly, S., Hilgert, M. A., & Hogarth, J. M. (2003). Household financial management: the connection between knowledge and behavior. Federal Reserve Bulletin.
BPS. (2020). Income Statistic 2021. Badan Pusat Statistik/BPS-Statistics Indonesia.
BPS. (2022). Pendidikan Kota Metro. Metrokota.Bps.Go.Id. https://metrokota.bps.go.id/subject/28/pendidikan.html#subjekViewTab3
Budiman, B. (2003). The potential of ZIS fund as an instrument in Islamic economy: Its theory and management implementation. Jurnal Iqtisad, 4(2).
Budiono, E. (2020). Analisis Financial Knowledge, Financial Attitude, Income, Locus of Control, Financial Management Behavior Masyarakat Kota Kediri. Jurnal Ilmu Manajemen (JIM), 8(1), 284–295.
Chen, H., & Volpe, R. P. (1998). An analysis of financial literacy among college students. Financial Services Review, 7(1), 107–128.
Cobb-Clark, D. A., Kassenboehmer, S. C., & Sinning, M. G. (2016a). Locus of control and savings. Journal of Banking and Finance. https://doi.org/10.1016/j.jbankfin.2016.06.013
Cobb-Clark, D. A., Kassenboehmer, S. C., & Sinning, M. G. (2016b). Locus of control and savings. Journal of Banking and Finance.
DeBondt, W., Forbes, W., Hamalainen, P., & Gulnur Muradoglu, Y. (2010). What can behavioural finance teach us about finance? Qualitative Research in Financial Markets, 2(1), 29–36.
Dewi, M. K., & Ferdian, I. R. (2021). Enhancing Islamic financial literacy through community-based workshops: a transtheoretical model. Journal of Islamic Accounting and Business Research, 12(5), 729–747.
Djaelani, A. R. (2013). Teknik pengumpulan data dalam penelitian kualitatif. Majalah Ilmiah Pawiyatan, 20(1), 82–92.
Farida, M. N., Soesatyo, Y., & Aji, T. S. (2021). Influence of financial literacy and use of financial technology on financial satisfaction through financial behavior. International Journal of Education and Literacy Studies, 9(1), 86–95.
Guardian, L. (2022). Metro Suburban Community Interview.
Herdjiono, I., Damanik, L. A., & Musamus, U. (2016). Pengaruh Financial Attitude , Financial Knowledge , Parental Income Terhadap Financial Management. Jurnal Manajemen Teori Dan Terapan, 3, 226–241.
Jing Jian Xiao. (2015). Applying Behavior Theories to Financial Behavior Applying Behavior Theories to Financial. Handbook of Consumer Finance Research, 69–81.
Jogiyanto Hartono, M. (2018). Metoda Pengumpulan dan Teknik Analisis Data. Penerbit Andi.
Kota Metro, B. (2022). Tenaga Kerja Kota Metro.
Mawardi, M. A. (2016). JOURNAL OF QUR’ᾹN AND HADῙTH STUDIES. Journal of Qur’ān and Ḥadīth Studies, 6, 1.
Mudzingiri, C., Muteba Mwamba, J. W., & Keyser, J. N. (2018). Financial behavior, confidence, risk preferences and financial literacy of university students. Cogent Economics and Finance. https://doi.org/10.1080/23322039.2018.1512366
Noh, M. (2022). Effect of parental financial teaching on college students’ financial attitude and behavior: The mediating role of self-esteem. Journal of Business Research, 143, 298–304.
Nurdiani, N. (2014). Teknik sampling snowball dalam penelitian lapangan. ComTech: Computer, Mathematics and Engineering Applications, 5(2), 1110–1118.
Nurlaili, & Swastika, P. (2021). How Middle-Low Income Muslim Group Financially Reacts in Pandemic Crisis. 10(2), 124–133.
Parker, C., Scott, S., & Geddes, A. (2019). Snowball sampling. SAGE Research Methods Foundations.
Pemerintah. (2019). Daftar kelurahan peningkatan kualitas permukiman kumuh program nsup.
Purwidianti, W., & Tubastuvi, N. (2019). The Effect of Financial Literacy and Financial Experience on SME Financial Behavior in Indonesia. Jurnal Dinamika Manajemen, 10(1), 40–45.
Rijali, A. (2019). Analisis data kualitatif. Alhadharah: Jurnal Ilmu Dakwah, 17(33), 81–95.
Robb, C., & Woodyard, A. (2011). Financial Knowledge and Best Practice Behavior by Cliff A. Robb, Ann Woodyard :: SSRN. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2061308
Sages, R. A., & Grable, J. E. (2011). A Test of the Theory of Self-Esteem : A Consumer Behavior Perspective. In The 57th Annual Conference of the American, 57(2002), 90.
Sarteschi, C. M. (2020). Sovereign citizens: A psychological and criminological analysis. Springer.
Sihotang, M. K. (2022). Consumption Of Halal Product As Islamic Economic Culture In Indonesia. Proceeding International Conference on Language, Literature and Culture, 1, 132.
Sri Mulyantini, M. M., & Dewi Indriasih, M. M. (2021). Cerdas Memahami Dan Mengelola Keuangan Bagi Masyarakat Di Era Informasi Digital. Scopindo Media Pustaka.
Sukoco, D. (2021). Sharia Economic Views on Tabzir Behavior. Al-Iktisab, 5(2), 149–158.
Tang, N., & Baker, A. (2016). Self-esteem, financial knowledge and financial behavior. Journal of Economic Psychology, 54, 164–176.
Thi, N., Mien, N., & Thao, T. P. (2015). Factors Affecting Personal Financial Management Behaviors: Evidence from Vietnam. Economics, Finance and Social Sciences, 978–1.
Torrente, M. F. V. (2015). The Unbankables: Assessing financial literacy and financial behavior of BPI Globe BanKO customers. De La Salle University Manila.
W.Fred Van Raaij. (2016). Understanding Consumer Financial Behavior. Palgrave Macmilla.
Yap, R. J. C., Komalasari, F., & Hadiansah, I. (2018). The Effect of Financial Literacy and Attitude on Financial Management Behavior and Satisfaction. Bisnis & Birokrasi Journal, 23(3).
Yong, C. C., Yew, S. Y., & Wee, C. K. (2018). Financial knowledge, attitude and behaviour of young working adults in Malaysia. Institutions and Economies, 10(4), 21–48.
Zunaidi, A., & Maghfiroh, F. L. (2021). The Role Of Women In Improving The Family Economy. Dinar: Jurnal Ekonomi Dan Keuangan Islam, 8(1), 61–79.