Analysis of Determinants Influencing the Millennial Financial Behavior

Abstract

Financial Behavior is a person's behavior in managing finances involving steps such as planning, allocating funds, checking, managing, controlling, searching, and storing financial resources. This process arises as a result of habits and a sense of individual responsibility for their finances. The lack of understanding about financial management among the millennial generation often leads to behavior that tends to be consumptive, resulting in various irresponsible financial actions. This study aims to investigate the impact of Financial Behavior. The sampling technique used in this study Statistical Product and Service Solution, which involves a data collection method where the sample is selected based on certain predetermined considerations. The data used is primary data using a questionnaire distributed to 112 respondents, namely the Millennial Generation in the West Jakarta Region. The analytical method uses the Structural Positive and Equation Model (SEM) Partial Least Square (smartPLS 3.0). The research results show that Financial Knowledge, Financial Attitudes and Income have a positive effect on Financial Behavior