Moderate of Self Control on the Effect of Financial Literacy and Demographic Factors on the Saving Behavior of Millennial Employees in the City of Denpasar
DOI:
https://doi.org/10.31150/ajebm.v5i11.1593Keywords:
Financial Literacy, Demographic Factor, Self-Control, Saving BehaviorAbstract
Employees of a company today face various challenges including limited financial resources and rising cost of living. Therefore, knowledge in personal financial management is needed to help them make the right financial decisions. This study aims to analyze the variables that influence the saving behavior of millennial employees in the city of Denpasar. The character of the millennial generation who is impulsive in shopping and poor financial planning must be immediately given a solution. The millennial generation is the only community that most closely follows the development of the times. The achievement of this need if it can be controlled, it will lead to consumptive behavior. On the other hand, if it cannot be controlled, it will lead to consumptive behavior. Consumptive behavior occurs because of excessive consumption intentions. Financial literacy and the ability to use financial technology are basic needs for everyone to avoid financial problems. Financial difficulties are not only a function of income alone (low income), financial difficulties can also arise if there are errors in financial management such as misuse of credit, and the absence of financial planning. This study aims to analyze the moderating role of Life Style on the influence of financial literacy and financial technology on the consumptive behavior of the millennial generation in Denpasar. The subject of this study is the millennial generation in Denpasar City. Measurement and descriptive analysis were carried out to obtain a picture or portrait of the respondents. The results of these descriptive measurements are then used as the basis for conducting statistical analysis. Data were collected through a questionnaire instrument (Likert Scale) which had been tested for validity and reliability. While the sample is determined as many as 95 people with incidental sampling technique. Result show directly found evidence that the hypothesized demographic and self-control factors can contribute or participate, but on the other hand there are findings that financial literacy variables are less than optimal in increasing saving behavior. The main finding is that financial literacy and demographic factors do not depend on self-control in increasing saving behavior. Based on these empirical findings it can be suggested that millennial employees should be able to apply knowledge about financial literacy so that they can improve saving behavior by prioritizing needs rather than wants. how to apply his financial knowledge or financial literacy in his personal life, for example, such as designing a shopping list so that he can buy more needed items so that financial managers can be controlled, so that even though at that time there are items that are on discount or promos they can control their desires.
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