THE INFLUENCE OF FINANCIAL LITERACY ON WOMEN’S WEALTH IN BANDUNG, WEST JAVA

• Main Author: Anezka Ayasha, Namira
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/57812
• Institution: Institut Teknologi Bandung

The current state of the financial industry is starting to provide various products and services to help individuals overcome their financial difficulties. To pursue the expansion of the financial industry, individuals must be financially literate in helping them manage their financial products and services. However, without good literacy, financial products and services can get people into serious financial problems. This research aims to determine factors of financial literacy that influence women’s wealth accumulation. In total, 121 respondents from all across Bandung participated in the questionnaire for this research. The questionnaire is categorized into demographic, financial knowledge, financial behaviour, financial attitude, and wealth accumulation. For data analysis, the researcher utilized Pearson Correlation and Pearson Chi-square to reach the conclusion of this research. In the findings, it was found that women in Bandung still have medium level of financial literacy. Then by using the Pearson Correlation, it was found that financial knowledge has a strong relationship with financial literacy, while financial behavior and attitude are weak. Thus, demographic factors such as age, status, and educational background do not influence women's financial literacy. It is also found that the only component of wealth that has a significant influence on financial literacy is checking or savings accounts. The Pearson Correlation of financial literacy and checking or savings accounts has a score of 0,034. Although the correlation is included in the very weak category, checking or savings account is the only factor that has a significant relationship. For the limitation in this research, due to the data collected was taken during the pandemic, there is a tendency where the accumulated wealth of respondents is experiencing a decline. And there is possibility that the respondents misinterpreted what the researcher really asked or misfilled the questionnaires. This study is the first to analyze the relationship between financial literacy and the factors of women's wealth accumulation in Bandung. The findings will be useful to women's financial literacy and as a reference on preferences for maximizing women's wealth.