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Stepping into the Future Wisely: Shaping Savings Behavior In the Young Generation Through Financial Literacy Program

Year: 2024

Type: conference-paper

Abstract: Saving is a way for individuals to reduce their consumption in order to have more money in the future. A poor attitude towards money management affects a person's ability to save, creates anxiety, and allows wasteful lifestyle habits to continue in everyday life. Encouraging thrifty behavior among teenagers is thought to reduce waste in consumption activities. This research found that sufficient financial knowledge can increase the saving behavior of the younger generation. Therefore, financial literacy programs should be improved and included in the curriculum at all levels of learning, with the aim of strengthening good attitudes in financial management, including saving, investing, understanding financial functions and services, and making wise financial decisions. In addition, schools and families must collaborate in providing practical and applicable financial education, as well as providing simulations or real exercises that can help teenagers understand and apply everyday financial concepts.

Source: Proceeding of International Student Conference on Business, Education, Economics, Accounting, and Management.

DOI: 10.21009/isc-beam.012.10

Authors: Ruth Abigail Tarigan, Helmi Amba Dewi, Agus Wibowo

Institution: State University of Jakarta

Language: English

Topic: Financial Literacy and Behavior

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Quality education

Open Access status: bronze

OpenAlex ID: W4402721646

FWCI:

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Related to: 10