Literacy Finance and Financial Planning for Welfare Finance with Behavior Finance as Variables Mediation for Young Workers in Jakarta

Melyta Hasty Dwi Andini Kharis

doi:10.55681/economina.v5i8.3573

Authors

Melyta Hasty Dwi Andini Kharis Master of Management Program, Universitas Terbuka, Jakarta, Indonesia

DOI:

https://doi.org/10.55681/economina.v5i8.3573

Keywords:

Financial Literacy; Financial Planning; Financial Behavior; Financial Well-Being

Abstract

his study aims to analyze the effect of financial literacy and financial planning on financial well-being, with financial behavior as a mediating variable, among young workers in Jakarta using the Theory of Planned Behavior framework. Data were collected from 225 young worker respondents in Jakarta through an online questionnaire and analyzed using Partial Least Squares Structural Equation Modeling (PLS- SEM) with SmartPLS 4. The results show that financial literacy and financial planning have a positive and significant effect on both financial behavior and financial well-being, with financial behavior proven to be the strongest predictor of financial well-being (β=0.557). Financial behavior also partially mediates the effect of financial literacy and financial planning on financial well-being. The research model explains 75.7% of the variance in financial well-being and 55.9% of the variance in financial behavior. These findings confirm that improving young workers' financial well-being requires not only financial literacy and planning education, but also the reinforcement of consistent, real daily financial habits and actions.

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