An Uncommon Approach Using R: Moderating Gender on Digital Financial Literacy and Behavior

Abstract

The digital financial behavior of the male and female millennial is still messy and unstable. The objective of this quantitative study is to analyze the influence of digital financial literacy on millennials' digital financial behavior, which is moderated by the gender variable. Data was collected by distributing an online self-administered questionnaire to four hundred and twenty millennials in Greater Jakarta as research samples. Data analysis utilized open-source software R Studio with descriptive statistics to compile respondent demographics and PLS-SEM calculations. Gender as a moderating variable uses nominal category data in the form of binary code with a two-way interaction effects method. The findings of this research show that digital financial literacy has a significant positive influence on digital financial behavior whether without paying attention to gender or by paying attention to gender. The gender variable is proven to be significant as a moderator, the moderating influence of males is proven to be stronger than that of females on improving digital financial behavior. Following up on these findings, millennials, both male and female, must improve their digital financial behavior as a solution to success through mastering digital financial literacy because they have relatively equal opportunities to help and support each other