FINANCIAL LITERACY AND FINANCIAL DECISION AMONG MILLENNIALS IN INDONESIA AFTER COVID-19

• Main Author: Willson Limantoro, Vinsensius
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/75029
• Institution: Institut Teknologi Bandung

At the end of 2019, the whole world was hit by the COVID-19 pandemic which caused various kinds of human activities to be restricted. Due to the difficulty of this activity, several phenomena occurred. First, many people have lost their jobs because companies cannot run normally. Second, technology is developing rapidly (including in the financial sector) to meet the needs of the world citizen in order to survive amidst pandemic conditions. Third, many people are starting to use technology to earn income. Due to the rapid development of technology and the use of technology to earn income is something new for some people, many people are exposed to frauds and scams that occur in the financial technology. This research was conducted to find out how the financial literacy index and how targets make decisions in using money, as well as how to increase financial literacy so that the number of victims of fraud and scam in the financial sector can be reduced. The target of this research is the millennial generation in Indonesia, because many of productive age in Indonesia from the millennial generation. To minimize data discrepancies, this research is limited to the Bandung city area, due to differences in the Regional Minimum Wage and decision-making behaviour in using money that varies between cities. This study analysed 403 respondents using Microsoft Excel and the SPSS program to determine the effect of the level of financial literacy on financial decisions and to find out what factors affect a person's financial literacy. There are five factors used to find the effect on financial literacy, namely: age, gender, education level, occupation, and monthly income. SPSS testing includes validity and reliability tests, normality tests, heteroscedasticity tests, multicollinearity tests, and regression. Based on the results of data processing, there is an effect of financial literacy on financial decision making, the higher a person's level of financial literacy, the better financial decision making. As well as the influence of age, gender, education level, and monthly income on a person's level of financial literacy. Whereas in this study, there was no effect of the type of work on a person's level of financial literacy. Based on this research, there are several recommendations given to the government, academia, communities that care about young people, business people, parents, and for further research so that they can develop the level of financial literacy of the millennial generation and the next generation