Gender, financial literacy, and financial behavior among students

Abstract

This study intends to examine and analyze the influence of financial literacy on people’s behavior and the difference in financial literacy and behavior based on gender. The population of this research comprises students in higher education institutions in Jakarta and were selected using the snowball sampling technique. This study utilizes the survey technique by distributing questionnaires to the sample population, and the variance-based structural equation model (SEM) was used to statistically analyze the responses. After deliberating the results, this study concludes that males have better financial literacy and behavior than females; financial literacy can intervene in the association between gender and money-related behavior. This means males tend to manage their money when they are financially knowledgeable. Based on this evidence, higher education institutions must set personal financial management as mandatory and elective subjects for business and non-business departments in their curriculum, respectively.