The effects of financial literacy and materialism on the savings decision of generation Z Indonesians

The purpose of this research is to analyze the influence of financial literacy and materialism on the savings decision of Indonesia’s generation Z. This study was motivated by the country’s agenda to achieve financial inclusion and develop human resources throughout the nation. We distributed questi...

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Autores principales:	Stevanus Pangestu, Erwin Bramana Karnadi
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2020
Materias:	financial literacy materialism financial behaviour savings generation z Business HF5001-6182 Management. Industrial management HD28-70
Acceso en línea:	https://doaj.org/article/b072f9dd6b5d4f39a1ba4d5779483664
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spelling	oai:doaj.org-article:b072f9dd6b5d4f39a1ba4d57794836642021-12-02T15:59:34ZThe effects of financial literacy and materialism on the savings decision of generation Z Indonesians2331-197510.1080/23311975.2020.1743618https://doaj.org/article/b072f9dd6b5d4f39a1ba4d57794836642020-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2020.1743618https://doaj.org/toc/2331-1975The purpose of this research is to analyze the influence of financial literacy and materialism on the savings decision of Indonesia’s generation Z. This study was motivated by the country’s agenda to achieve financial inclusion and develop human resources throughout the nation. We distributed questionnaires to 430 university students to measure their financial literacy score and materialism level, as well as the savings rate of every respondent. Through a series of regression analyses, we find that (i) age, gender, and major of study significantly influence financial literacy score; (ii) financial literacy positively influences savings decision; and (iii) materialism negatively influences savings decision. Our findings generally foretell favourable financial conditions for future generations of Indonesians. Finally, we also strongly recommend policymakers to start integrating financial education as a compulsory part of every school’s curriculum, regardless of level.Stevanus PangestuErwin Bramana KarnadiTaylor & Francis Grouparticlefinancial literacymaterialismfinancial behavioursavingsgeneration zBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 7, Iss 1 (2020)
institution	DOAJ
collection	DOAJ
language	EN
topic	financial literacy materialism financial behaviour savings generation z Business HF5001-6182 Management. Industrial management HD28-70
spellingShingle	financial literacy materialism financial behaviour savings generation z Business HF5001-6182 Management. Industrial management HD28-70 Stevanus Pangestu Erwin Bramana Karnadi The effects of financial literacy and materialism on the savings decision of generation Z Indonesians
description	The purpose of this research is to analyze the influence of financial literacy and materialism on the savings decision of Indonesia’s generation Z. This study was motivated by the country’s agenda to achieve financial inclusion and develop human resources throughout the nation. We distributed questionnaires to 430 university students to measure their financial literacy score and materialism level, as well as the savings rate of every respondent. Through a series of regression analyses, we find that (i) age, gender, and major of study significantly influence financial literacy score; (ii) financial literacy positively influences savings decision; and (iii) materialism negatively influences savings decision. Our findings generally foretell favourable financial conditions for future generations of Indonesians. Finally, we also strongly recommend policymakers to start integrating financial education as a compulsory part of every school’s curriculum, regardless of level.
format	article
author	Stevanus Pangestu Erwin Bramana Karnadi
author_facet	Stevanus Pangestu Erwin Bramana Karnadi
author_sort	Stevanus Pangestu
title	The effects of financial literacy and materialism on the savings decision of generation Z Indonesians
title_short	The effects of financial literacy and materialism on the savings decision of generation Z Indonesians
title_full	The effects of financial literacy and materialism on the savings decision of generation Z Indonesians
title_fullStr	The effects of financial literacy and materialism on the savings decision of generation Z Indonesians
title_full_unstemmed	The effects of financial literacy and materialism on the savings decision of generation Z Indonesians
title_sort	effects of financial literacy and materialism on the savings decision of generation z indonesians
publisher	Taylor & Francis Group
publishDate	2020
url	https://doaj.org/article/b072f9dd6b5d4f39a1ba4d5779483664
work_keys_str_mv	AT stevanuspangestu theeffectsoffinancialliteracyandmaterialismonthesavingsdecisionofgenerationzindonesians AT erwinbramanakarnadi theeffectsoffinancialliteracyandmaterialismonthesavingsdecisionofgenerationzindonesians AT stevanuspangestu effectsoffinancialliteracyandmaterialismonthesavingsdecisionofgenerationzindonesians AT erwinbramanakarnadi effectsoffinancialliteracyandmaterialismonthesavingsdecisionofgenerationzindonesians
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The effects of financial literacy and materialism on the savings decision of generation Z Indonesians

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