The Influence Financial Literacy, Financial Experience, Financial Attitudes and Education Levels Financial Behavior Mediated Self-Efficacy

Abstract

The purpose of this study was to identify and analyze the effect of financial literacy, financial experience, financial attitudes and educational level on financial behavior through self-efficacy directly or indirectly. The approach used in this research is a causal approach. The population in this study were all micro, small and medium enterprises in Medan. The sample in this study used the sloven formula so that micro, small and medium enterprises in Medan were obtained. Data collection techniques in this study using a questionnaire technique. Data analysis techniques in this study used a quantitative approach using statistical analysis using the Model Analysis test, Inner Model Analysis, and Hypothesis Testing. Data processing in this study uses the PLS software program. The results of this study prove that directly financial literacy, financial experience, financial attitudes and self-efficacy have a significant effect on financial behavior, education level has no effect on financial behavior, financial literacy, financial experience, financial attitudes and education level have a significant effect on self-efficacy. Meanwhile, indirectly financial literacy, financial experience, financial attitude and education level have a significant effect on financial behavior mediated by self-efficacy the perpetrators of micro, small and medium enterprises.