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Building financial well-being through financial socialization and literacy

Year: 2024

Type: article

Abstract: This study aims to analyze the impact of financial socialization on financial well-being through financial literacy as a mediating variable. Using a quantitative approach, the study involved employees of PT. Solusi Bangun Indonesia Tbk and collected data through questionnaires. The results indicate that financial socialization has a significant effect on financial literacy but does not have a direct impact on financial well-being. Financial literacy was found to have a positive and significant effect on financial well-being and plays a mediating role between financial socialization and financial well-being. These findings emphasize the importance of improving financial literacy to support better financial management and enhance individual well-being. This research provides insights for the development of more effective financial education programs to improve financial literacy and well-being among employees.

Source: International Journal of Research in Business and Social Science (2147-4478)

DOI: 10.20525/ijrbs.v13i5.3577

Authors: Zahrotul Auliya Rahmawati, Nur Khusniyah Indrawati, Siti Aisjah

Institution: University of Brawijaya

Language: English

Topic: Financial Literacy and Behavior

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Decent work and economic growth, No poverty

Open Access status: gold

Estimated APC paid: $129