Beyond Digital Payments: the Role of Financial Literacy and Social Preferences in Shaping Financial Self-Control

Heni Subekti; Infijarun  Ni'am; Wachidah  Fauziyanti

doi:10.55927/ajma.v5i2.16474

Authors

Heni Subekti Sekolah Tinggi Ilmu Ekonomi Semarang
Infijarun Ni'am Sekolah Tinggi Ilmu Ekonomi Semarang
Wachidah Fauziyanti Sekolah Tinggi Ilmu Ekonomi Semarang

DOI:

https://doi.org/10.55927/ajma.v5i2.16474

Keywords:

Financial Literacy, Social Preference, Digital Wallet, Financial Self-Control, Theory of Planned Behaviour

Abstract

This study aims to analyze the influence of financial literacy on financial self-control by considering the mediating role of social preference and digital wallet. This study uses a quantitative approach using the Partial Least Squares Structural Equation Modeling (PLS-SEM) method. Data was collected through a questionnaire distributed to 160 respondents and analyzed to test the relationship between variables. The results of the study show that financial literacy has a positive and significant effect on social preference and digital payment use. Social preference and digital wallet also have a significant effect on financial self-control. The mediation analysis shows that social preference plays a stronger role as a mediator in the relationship between financial literacy and financial self-control compared to digital payment use. These findings indicate that financial self-control is not only influenced by cognitive and technological aspects, but is also highly determined by social dimensions.

Downloads

Download data is not yet available.

References

Ammer, M. A., & Aldhyani, T. H. H. (2022). An Investigation Into the Determinants of Investment Awareness: Evidence From the Young Saudi Generation. Sustainability, 14(20), 13454. https://doi.org/10.3390/su142013454.

Asmuni, H. (2019). Peran Lingkungan Sosial Terhadap Kontrol Diri Kaum Milenial Therole of Social Environment Against Millennial Self-Control. Al-Fikrah, 2, 119–134.

Azzahra, S., & Supriyadi, A. (2022). Analisis Faktor-Faktor Yang Mempengaruhi Keputusan Penggunaan E-Wallet Dana Sebagai Sistem Pembayaran (Studi Kasus Mahasiswa Di Jakarta). Jurnal Bisnis Dan Akuntansi, 2(1), 1–14.

Chowdhry, N., & Dholakia, U. M. (2019). Know Thyself Financially: How Financial Self‐awareness Can Benefit Consumers and Financial Advisors. Financial Planning Review, 3(1). https://doi.org/10.1002/cfp2.1069.

Dany, A. S. R., & Susanti, A. (2023). Pengaruh Pendapatan, Lierasi Keuangan Dan Kontrol Diri Terhadap Perilaku Konsumtif Mahasiswa di Surakarta. Juremi : Jurnal Riset Ekonomi, 2(4), 452–464.

Dublin, B. C., Logrosa, A. A., Sosing, M. R. D., & Cornillez, E. E. C. (2020). Factors influencing career preference of junior high school students for senior high school study. Journal of Educational Research and Technology Management Article History, 1(1), 29–38.

Enete, S., & Todd, T. M. (2025). Charity, Conviction, and Social Norms: Personal Worldview Conviction as a Predictor of Charitable Giving. Journal of Philanthropy, 30(3). https://doi.org/10.1002/nvsm.70025.

Evren, Ö., & Minardi, S. (2017). Warm‐Glow Giving and Freedom to Be Selfish. The Economic Journal, 127(603), 1381–1409. https://doi.org/10.1111/ecoj.12351.

Fitriani, F. (2020). Pengaruh Lingkungan Teman Sebaya Terhadap Perilaku Konsumtif Melalui Kontrol Diri Siswa Di Sma Ylpi Pekanbaru. PROMOSI (Jurnal Pendidikan Ekonomi), 8(1), 1–8. https://doi.org/10.24127/pro.v8i1.2858.

Fitriyani, L. R., Nurhajati, L., & Wijayanto, xenia A. (2021). Cara Bijak Menggunakan Dompet Elektronik. In LP3M LSPR (Pertama). LP3M LSPR.

Ghufron, M. N., & Risnawita, R. (2017). Teori-Teori Psikologi (R. Kusumaningrati (ed.); Edisi 2). AR-RUZZ MEDIA.

Greenberg, A. E., Sussman, A. B., & Hershfield, H. E. (2019). Financial Product Sensitivity Predicts Financial Health. Journal of Behavioral Decision Making, 33(1), 15–26. https://doi.org/10.1002/bdm.2142.

Hair, J. F., Hult;, G. T. M., Ringle;, C. M., & Sarstedt, M. (2021). A primer on partial least squares structural equation modeling (PLS-SEM)-Third Edition. SAGE Publications.

Haq, I. I., Tubastuvi, N., Purwidianti, W., & Widhidanono, H. (2023). Pengaruh Literasi Keuangan , Teman Sebaya , Electronic Money , Gaya Hidup, dan Kontrol Diri Terhadap Perilaku Konsumtif Mahasiswa. Manajemen Dan Bisnis Indonesia, 09(01), 73–89.

Hartono, U., & Isbanah, Y. (2022). Students’ Saving Behaviour: What Are the Motives That Influence Them to Save? Jurnal Ekonomi Bisnis Dan Kewirausahaan, 11(3), 363. https://doi.org/10.26418/jebik.v11i3.56561.

Herlizah, N., & Subali, S. (2023). Pengaruh Penggunaan Dompet Digital Terhadap Perilaku Konsumtif Masyarakat Kelurahan Cakung Timur, Kecamatan Cakung, Jakarta Timur. Efektor, 10(2), 253–262. https://doi.org/10.29407/e.v10i2.20661.

Jalil, M. I. A., Amin, H., Yahya, S., Pitchay, A. A., Lada, S., & Omar, P. M. F. F. A. (2023). Factors Influencing Charitable Giving in Malaysia: An Islamic Perspective. Isra International Journal of Islamic Finance, 15(2). https://doi.org/10.55188/ijif.v15i2.545.

Junita, N., Robin, R., & Yulfiswandi, Y. (2021). Identifying Financial Management Behavior in Millenial Generation. Jimfe (Jurnal Ilmiah Manajemen Fakultas Ekonomi), 7(2), 217–230. https://doi.org/10.34203/jimfe.v7i2.3881.

Kaliciak, A., Kurach, R., & Merouani, W. (2019). The Importance of Behavioural Factors for Pension Savings Decisions – Cross-Country Evidence. Acta Oeconomica, 69(3), 357–391. https://doi.org/10.1556/032.2019.69.3.3.

Lesminda, E., & Rochmawati, R. (2021). Pengaruh Uang Saku, Teman Sebaya, Lingkungan Sekitar Terhadap Pengendalian Diri Mahasiswa Dalam Pengelolaan Keuangan Di Era Covid-19. Jurnal Pendidikan Akuntansi (JPAK), 9(2), 158–167. https://doi.org/10.26740/jpak.v9n2.p158-167.

Lindratno, N. E. N., & Anasrulloh, M. (2022). Pengaruh Gaya Hidup Dan Pengendalian Diri Terhadap Perilaku Konsumtif Masyarakat Tulungagung (Studi Kasus Pada Rumah Putih Coffee House). Jurnal Economina, 1(2), 272–284. https://doi.org/10.55681/economina.v1i2.43.

Lusianti, D., Widodo, & Mulyana. (2024). Mas’uliyah Society Brand Resonance: Enhancing Sustainable Marketing Performance of the National Health Insurance Program. Qubahan Academic Journal, 4(3), 619–637. https://doi.org/10.48161/qaj.v4n3a976.

Nalurita, F., Leon, F. M., & Nisfiannoor, M. (2022). Financial Management Behavior for E-Wallet Users in Jabodetabek. Business and Entrepreneurial Review (Ber), 22(2), 229–250. https://doi.org/10.25105/ber.v22i2.13951.

Pratama, Y. I., & Santoso, A. B. (2024). Students ’ Consumtive Behaviour Dampak Gaya Hidup Hedonis , Literasi Keuangan Dan Lingkungan Sosial Terhadap Perilaku Konsumtif Mahasiswa. Management Studies and Enterpreneurship Journal, 5(2), 3190–3197.

Putra, A. H. P. K., & Hasniaty, A. (2023). The Effect of Social Interaction and Social Support on E-Commerce Purchase Intention: UGT and TAM Theory Perspective. Journal of Law and Sustainable Development, 11(9), e987. https://doi.org/10.55908/sdgs.v11i9.987.

Robayo‐Pinzon, O., Foxall, G. R., Restrepo, L. A. M., & Berrío, S. P. R. (2021). Does Excessive Use of Smartphones and Apps Make Us More Impulsive? An Approach From Behavioural Economics. Heliyon, 7(2), e06104. https://doi.org/10.1016/j.heliyon.2021.e06104.

Saputra, I. A. G., Yusuf, A., Hakim, L., & Rohayati, S. (2023). Determination of Generation Z’s Intention in Using E-Wallet for Payment Transactions. E-Jurnal Akuntansi, 33(1), 73. https://doi.org/10.24843/eja.2023.v33.i01.p06.

Sutter, M., Weyland, M., Untertrifaller, A., Froitzheim, M., & Schneider, S. O. (2023). Financial Literacy, Experimental Preference Measures and Field Behavior – a Randomized Educational Intervention. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.4436703.

Tang, Z., Zhang, H., An, Y., & Qu, C. (2017). Time Is Money: The Decision Making of Smartphone High Users in Gain and Loss Intertemporal Choice. Frontiers in Psychology, 8. https://doi.org/10.3389/fpsyg.2017.00363.

Tribuana, L. (2020). Pengaruh Literasi Keuangan, Pengendalian Diri Dan Konformitas Hedonis Terhadap Perilaku Konsumtif Mahasiswa. Prisma (Platform Riset Mahasiswa Akuntansi), 1(1), 145–155.

Ulum, I. F., & Solekah, N. A. (2024). The Impact of Lifestyle, Financial Literacy, and Ease of Use of E-Payment on E-Wallet Users’ Consumptive Behavior in the Millennial Generation. Mec-J (Management and Economics Journal), 8(1), 67–82. https://doi.org/10.18860/mec-j.v8i1.26265.

Wang, T., Chen, W., Wang, X., & Fan, X. (2023). Smartphone Use Increases the Likelihood of Making Short-Sighted Financial Decisions. Journal of Pacific Rim Psychology, 17. https://doi.org/10.1177/18344909221147782.

Widari, D. A. P. N., Pulawan, I. M., & Setini, M. (2023). Financial Literacy Moderation on the Influence of E-Wallet Usage and Locus of Control on Consumtive Behavior of Generation Z in Denpasar City. International Journal of Management and Economics Invention, 09(11). https://doi.org/10.47191/ijmei/v9i11.04.

Yin, B., & Shen, Y. (2024). Development and Validation of the Compensatory Belief Scale for the Internet Instant Gratification Behavior. Heliyon, 10(1), e23972. https://doi.org/10.1016/j.heliyon.2024.e23972.