Financial Attitude and Locus of Control Toward Financial Management Practices
Keywords:
Financial Attitude, Locus of Control and Financial Management PracticesAbstract
The purpose of this study is to analyze and synthesize a theory that explains the relationship between financial attitude, locus of control and financial management practices. This study uses a qualitative approach with the literature review method, which is an approach that examines and synthesizes previous research by selecting relevant literature, analyzing and solving and interpreting the synthesis of literature. This study examines 50 articles sourced from the Google Scholar database, Mandeley Search, Emerald Insight and Harzing's Publish or Pherish. This study presents the theoretical basis, other explanatory variables and research results from previous literature. Theories that underlie it include planned behavior theory. The synthesis of the research results shows that good and reliable financial attitude and locus of control have a significant impact on Financial Management Practices. A positive financial attitude encourages individuals to manage their finances better, including planning, controlling, and making financial decisions.
References
Ajzen, I. (1991). The Theory of Planned Behavior. Organizational Behavior and Human Decision Processes, 179–211. https://doi.org/10.1016/0749-5978(91)90020-T
Ameliawati, M., & Setiyani, R. (2018). The Influence of Financial Attitude, Financial Socialization, and Financial Experience to Financial Management Behavior with Financial Literacy as the Mediation Variable. KnE Social Sciences, 3(10), 811. https://doi.org/10.18502/kss.v3i10.3174
Anderson, A., Baker, F., & Robinson, D. T. (2017). Precautionary savings, retirement planning and misperceptions of financial literacy. Journal of Financial Economics, 126(2), 383–398. https://doi.org/10.1016/j.jfineco.2017.07.008
Anggraini, D., & Lestari, E. L. (2023). Pengaruh Manajemen Laba Terhadap Nilai Perusahaan Di Moderasikan Kepemilikan Manajerial dan Komisaris Independen. VALUE, 4(2), 1–14.
Aren, S., & Aydemir, S. (2015). The Moderation of Financial Literacy on the Relationship Between Individual Factors and Risky Investment Intention. International Business Research, 8, 17–28. https://doi.org/10.5539/ibr.v8n6p17
Ariani, S., Rahmah, P. A. A. A., Putri, Y. R., Rohmah, M., Budiningrum, A., & Lutfi, L. (2016). Pengaruh literasi keuangan, locus of control, dan etnis terhadap pengambilan keputusan investasi. Journal of Business & Banking, 5(2), 257. https://doi.org/10.14414/jbb.v5i2.706
Arrondel, L., Debbich, M., & Savignac, F. (2013). Financial Literacy and Financial Planning in France. Numeracy, 6(2). https://doi.org/10.5038/1936-4660.6.2.8
Bongini, P., & Cucinelli, D. (2019). University students and retirement planning: Never too early. International Journal of Bank Marketing, 37(3), 775–797. https://doi.org/10.1108/IJBM-03-2018-0066
Delis, D., & Lestari, E. (2024). Pengaruh Penggunaan Financial Technology Dan Media Sosial Terhadap Peningkatan Pendapatan UMKM Di Kota Batam. Economics and Digital Business Review, 5(1), 432–447.
Eka, E., & Lestari, E. (2024). Pengaruh Kinerja Keuangan Terhadap Financial Distress Pada Perusahaan Sektor Pariwisata (Terdaftar Di Bursa Efek Indonesia 2018-2022). SEIKO : Journal of Management & Business, 7(2), 210. https://doi.org/10.37531/sejaman.v7i2.6758
Grohmann, A. (2018). Financial literacy and financial behavior: Evidence from the emerging Asian middle class. Pacific-Basin Finance Journal, 48, 129–143. https://doi.org/10.1016/j.pacfin.2018.01.007
Herrador-Alcaide, T. C., Hernández-Solís, M., & Topa, G. (2020). A MODEL FOR PERSONAL FINANCIAL PLANNING TOWARDS RETIREMENT. Journal of Business Economics and Management, 22(2), 482–502. https://doi.org/10.3846/jbem.2020.13978
Herrador-Alcaide, T. C., Hernández-Solís, M., & Topa, G. (2021). A model for personal financial planning towards retirement. Journal of Business Economics and Management, 22(2), 482–502. https://doi.org/10.3846/jbem.2020.13978
Joyce Hwee-Nga Koe & Ken Kyid Yeoh. (2021). Factors Influencing Financial Planning for Marriage amongst Young Malaysian Couples. International Journal of Business and Society, 22(1), 33–54. https://doi.org/10.33736/ijbs.3161.2021
Judge, T. A., Bono, J. E., Ilies, R., & Gerhardt, M. W. (2002). Personality and leadership: A qualitative and quantitative review. The Journal of Applied Psychology, 87(4), 765–780. https://doi.org/10.1037/0021-9010.87.4.765
Kerdvimaluang, N., & Banjongprasert, J. (2022). FINANCIAL ATTITUDES AND SUBJECTIVE NORMS INFLUENCING RETIREMENT PLANNING. Economic Dynamics.
Kohar, M. A. (2022). Literasi Keuangan, Pengelolaan Keuangan dan Sikap Menabung Pengaruhnya Terhadap Perencanaan Dana Pensiun Melalui Variabel Moderasi Tingkat Pendidikan. BALANCE: Economic, Business, Management and Accounting Journal, 19(2), 100. https://doi.org/10.30651/blc.v19i2.11175
Lestari, E. (2023a). FINANCIAL LITERACY AND FINANCIAL RESOURCES RETIREMENT. International Conference On Economics Business Management And Accounting (ICOEMA), 2, 290–298. https://conference.untag-sby.ac.id/index.php/icoema/article/view/2999
Lestari, E. (2023c). Pengaruh Pengetahuan Keuangan dan Lokus Kendali Terhadap Pengelolaan Keuangan Pada Masyarakat Kota Batam. SEIKO: Journal of Management & Business, 6(1), 142–150.
Lestari, E. (2024). Dasar Dasar Manajemen Keuangan: Buku referensi. https://scholar.google.com/citations?view_op=view_citation&hl=en&user=Xovl0SQAAAAJ&citation_for_view=Xovl0SQAAAAJ:UebtZRa9Y70C
Lestari, E. (2024). Pengaruh Penggunaan Financial Technology Dan Media Sosial Terhadap Peningkatan Pendapatan UMKM Di Kota Batam. 5(1).
Lin, C., Hsiao, Y.-J., & Yeh, C.-Y. (2017). Financial literacy, financial advisors, and information sources on demand for life insurance. Pacific-Basin Finance Journal, 43, 218–237. https://doi.org/10.1016/j.pacfin.2017.04.002
Lusardi, A., & Mitchell, O. S. (2017). How Ordinary Consumers Make Complex Economic Decisions: Financial Literacy and Retirement Readiness. Quarterly Journal of Finance, 07(03), 1750008. https://doi.org/10.1142/S2010139217500082
Perry, M. (2005). Who Is in Control? The Role of Self‐Perception, Knowledge, and Income in Explaining Consumer Financial Behavior. https://www.researchgate.net/publication/227633409_Who_Is_in_Control_The_Role_of_Self-Perception_Knowledge_and_Income_in_Explaining_Consumer_Financial_Behavior
Ramadhanty, G. (2022). Pengaruh Kontrol, Sikap Keuangan, Dan Strategi Pensiun Terhadap Rencana Pensiun Dimoderasi Oleh Jenis Kelamin Pada Kalangan Dewasa Muda. Business Management Analysis Journal (BMAJ), 5(1), 24–42. https://doi.org/10.24176/bmaj.v5i1.7184
Rotter, J. B. (1966). Generalized expectancies for internal versus external control of reinforcement. Psychological Monographs: General and Applied, 80(1), 1–28. https://doi.org/10.1037/h0092976
Safari, K., Njoka, C., & Munkwa, M. G. (2021). Financial literacy and personal retirement planning: A socioeconomic approach. Journal of Business and Socio-Economic Development, 1(2), 121–134. https://doi.org/10.1108/JBSED-04-2021-0052
Saputra, E. D., & Murniati, M. P. (2021). Pengaruh Literasi Keuangan, Perilaku Keuangan, Karakteristik Sosial Demografi, Toleransi Risiko terhadap Perencanaan Keuangan Hari Tua Pegawai Instansi XYZ …. Fokus Bisnis: Media …, 20(2), 216–229. https://doi.org/10.32639/fokusbisnis.v20i2.950
Sekita, S. (2011). Financial literacy and retirement planning in Japan. Journal of Pension Economics and Finance, 10(4), 637–656. https://doi.org/10.1017/S1474747211000527
van Rooij, M. C. J., Lusardi, A., & Alessie, R. J. M. (2011). Financial literacy and retirement planning in the Netherlands. Journal of Economic Psychology, 32(4), 593–608. https://doi.org/10.1016/j.joep.2011.02.004
Wardani, O. T., Purwohedi, U., & Warokka, A. (2019). Perilaku Menabung Terhadap Kesiapan Pensiun: Studi Empiris Pada ASN. Jurnal Riset Manajemen Sains Indonesia (JRMSI) |, 10(2), 2301–8313.
Yeolencia, E., & Lestari, E. (2024a). The Role of Financial Attitude in Mediating The Relationship Between Financial Knowledge and Financial Management Behavior in Batam City. JEM17: Jurnal Ekonomi Manajemen, 9(2). https://doi.org/10.30996/jem17.v9i2.12249
