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The Role of Digital Finance, Financial Literacy, and Lifestyle on Financial Behaviour

Author

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  • Yuneline Mirza Hedismarlina

    (Sekolah Tinggi Ilmu Ekonomi Ekuitas, Jl. PHH Mustopha No. 31, Bandung, Indonesia)

  • Rosanti Maria Firnandya Christian

    (Sekolah Tinggi Ilmu Ekonomi Ekuitas, Jl. PHH Mustopha No. 31, Bandung, Indonesia)

Abstract

The development of technology and information provides convenience and many choices in making financial decisions. Many new and diverse financial products require people to have a better understanding of the process of using them. This is supported by financial literacy and an understanding of managing finances to avoid bad financial decisions. Technology adoption also leads to a rigorous lifestyle that makes them use digital services as a quick and useful tool for their activities. This study aims to examine the role of digital finance, financial literacy, and lifestyle on student’s financial behavior. This study used descriptive and verification method with a quantitative approach. The primary data was collected through questionnaires from student respondents in Bandung, West Java, Indonesia. The results of this study indicate that partially the use of digital finance has a insignificant effect on financial behaviour, but financial literacy and lifestyle has a positive significant effect on financial behaviour. Simultaneously digital finance, financial literacy, and lifestyle have a significant effect on students’ financial behavior. The study showed that the use of digital finance is only for transaction benefit not for behavioral change. It is expected to create awareness of their investment products and develop their application into more secure products in changing financial behavior.

Suggested Citation

  • Yuneline Mirza Hedismarlina & Rosanti Maria Firnandya Christian, 2023. "The Role of Digital Finance, Financial Literacy, and Lifestyle on Financial Behaviour," HOLISTICA – Journal of Business and Public Administration, Sciendo, vol. 14(2), pages 97-115, December.
    • Handle: RePEc:vrs:hjobpa:v:14:y:2023:i:2:p:97-115:n:4
    DOI: 10.2478/hjbpa-2023-0018
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    References listed on IDEAS

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    1. Viswanath Venkatesh, 2022. "Adoption and use of AI tools: a research agenda grounded in UTAUT," Annals of Operations Research, Springer, vol. 308(1), pages 641-652, January.
    2. Rand Al-Dmour & Emilia Al Haj Dawood & Hani Al-Dmour & Ra'ed Masa'deh, 2020. "The effect of customer lifestyle patterns on the use of mobile banking applications in Jordan," International Journal of Electronic Marketing and Retailing, Inderscience Enterprises Ltd, vol. 11(3), pages 239-258.
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