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The Effect of Economic Incentives, Financial Technology, and Financial Literacy on Millennials' Financial Planning during Covid 19

Author

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  • Karina Harjanto

    (Universitas Multimedia Nusantara, Gading Serpong, 15810, Tangerang, Indonesia Author-2-Name: Maria Stefani Osesoga Author-2-Workplace-Name: Universitas Multimedia Nusantara, Gading Serpong, 15810, Tangerang, Indonesia Author-3-Name: Elisa Tjhoa Author-3-Workplace-Name: Universitas Multimedia Nusantara, Gading Serpong, 15810, Tangerang, Indonesia Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)

Abstract

" Objective - This study aims to obtain empirical evidence of the effect of economic incentives, financial technology, and financial literacy on financial planning. Methodology – The data used in this study came from a questionnaire with 113 millennial respondents who live throughout Indonesia. Questionnaires were distributed in 2020 to understand millennial financial planning and the factors influencing it during the Covid-19 pandemic. Findings – This research found that economic incentives did not affect financial planning, while financial literacy and financial planning had a positive and significant effect on financial planning. Novelty – This study is among the first to learn the effect of the Covid-19 pandemic on millennials' finance. Type of Paper - Empirical"

Suggested Citation

  • Karina Harjanto, 2022. "The Effect of Economic Incentives, Financial Technology, and Financial Literacy on Millennials' Financial Planning during Covid 19," GATR Journals jfbr202, Global Academy of Training and Research (GATR) Enterprise.
    • Handle: RePEc:gtr:gatrjs:jfbr202
    DOI: https://doi.org/10.35609/jfbr.2022.7.2(1)
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    References listed on IDEAS

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    1. Agarwal, Sumit & Amromin, Gene & Ben-David, Itzhak & Chomsisengphet, Souphala & Evanoff, Douglas D., 2015. "Financial literacy and financial planning: Evidence from India," Journal of Housing Economics, Elsevier, vol. 27(C), pages 4-21.
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    More about this item

    Keywords

    Economic Incentive; Financial Literacy; Financial Planning; Financial Technology; Millennials;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance

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