The Influence Of Financial Literacy, Financial Self-Efficacy, And Income On Financial Management Behaviour In Micro Businesses In Bandung Kulon Sub-District Bandung City

Gina Tri Lestari; Ridwan Ridwan

Authors

Gina Tri Lestari Indonesia Membangun University, Bandung, Indonesia
Ridwan Ridwan Indonesia Membangun University, Bandung, Indonesia

Keywords:

Financial Literacy, Financial Self-Efficacy, Income, Financial Management Behaviour

Abstract

This study evaluates the influence of financial literacy, financial self-efficacy, and income on financial management behavior among Micro, Small, and Medium Enterprises (MSMEs) in Bandung Kulon, Indonesia. Despite the crucial role of MSMEs in bolstering the economy, challenges in effective financial management persist, often exacerbated by limited financial literacy, fluctuating income levels, and low financial self-efficacy. Using a quantitative descriptive and verificatory approach, the research employs a sample of 162 micro-enterprises to analyze the data collected through surveys and in-depth interviews. Validity and reliability tests confirm the accuracy and consistency of the measurement instruments, utilizing Pearson correlation coefficients and Cronbach's Alpha respectively. Further statistical analyses include regression, with classical assumption tests such as the Kolmogorov-Smirnov test for normality, and tests for multicollinearity and heteroscedasticity ensuring the robustness of the regression model. The results indicate significant statistical relationships where financial literacy and financial self-efficacy positively impact financial behavior, while the influence of income did not show a significant effect. These findings suggest that enhancing financial knowledge and confidence among MSME owners can lead to better financial practices, crucial for the sustainability and growth of their businesses. This study contributes to the formulation of targeted strategies to improve financial management capabilities among MSMEs in Indonesia.

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