DETERMINANTS OF STUDENT SAVING BEHAVIOR : THE INFLUENCE OF FINANCIAL LITERACY, FAMILY FINANCIAL SOCIALIZATION, SELF-CONTROL AND PEER INFLUENCE
Keywords:
Financial Literacy, Family Financial Socialization, Self-Control, Peer Influence, Saving Behavior
Abstract
This study examines the influence of financial literacy, family financial socialization, self-control, and peer influence on saving behavior among university students at the Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta. Using survey data from 200 students collected during the 2022–2024 period, saving behavior is operationalized through saving frequency, motivation, objectives, and consistency. The data are analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The findings indicate that financial literacy exhibits a positive but statistically insignificant relationship with saving behavior, whereas family financial socialization, self-control, and peer influence demonstrate significant positive effects. The structural model accounts for 37.9% of the variance in saving behavior. Overall, the results suggest that behavioral and social factors play a more prominent role than financial knowledge alone in shaping students’ saving behavior, underscoring the importance of incorporating psychological and social dimensions into financial education initiatives
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Putri, E. B., & Wahjudi, E. (2022). Pengaruh Literasi Finansial, Inklusi Keuangan, Teman Sebaya, dan Kontrol Diri terhadap Perilaku Menabung Mahasiswa. Jurnal Pendidikan Akuntansi (JPAK), 10(3), 217–231. https://doi.org/10.26740/jpak.v10n3.p217-231
Salim, A. S., & Pamungkas, A. S. (2022). The Influence of Financial Literacy, Parental Socialization, and Peer Influences on Saving Behavior. Advances in Economics, Business and Management Research, 655(Ticash 2021), 1356–1361. https://doi.org/10.2991/assehr.k.220404.217
Setyowati, E. (2023). Pengaruh Literasi Keuangan dan Teman Sebaya terhadap Perilaku Menabung dengan Kontrol Diri sebagai Variabel Mediasi pada Mahasiswa. Universitas Negeri Jakarta.
Suwatno, S., Waspada, I., & Mulyani, H. (2021). Forming Student’s Saving Behaviour through Financial Literacy, Parental Financial Education, and Self Control. Jurnal Pendidikan Akuntansi & Keuangan, 9(2), 127–136. https://doi.org/10.17509/jpak.v9i2.34944
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Yulianti, Witarsa, & Ulfah, M. (2025). Pengaruh Self Control dan Literasi Keuanga terhadap Pengelolaan Keuangan Mahasiswa. 14, 2715–2723.
Zulaika, M. D. S., & Listiadi, A. (2020). Literasi Keuangan, Uang Saku, Kontrol Diri, dan Teman Sebaya Terhadap Perilaku Menabung Mahasiswa. Ekuitas: Jurnal Pendidikan Ekonomi, 8(2), 137–146.
Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211. https://doi.org/10.1016/0749-5978(91)90020-T
Ali, M. A. S., Ammer, M. A., & Elshaer, I. A. (2022). Determinants of Investment Awareness: A Moderating Structural Equation Modeling-Based Model in the Saudi Arabian Context. Mathematics, 10(20). https://doi.org/10.3390/math10203829
Alshebami, A. S., & Aldhyani, T. H. H. (2022). The Interplay of Social Influence, Financial Literacy, and Saving Behaviour among Saudi Youth and the Moderating Effect of Self-Control. Sustainability (Switzerland), 14(14). https://doi.org/10.3390/su14148780
Bandura, A. (1989). Social Cognitive Theory. Journal of Biological Chemistry, 250(21), 8530–8535. https://doi.org/10.1016/s0021-9258(19)40792-8
Brigitta, G. I., Fawaiq, M., & Widyastuti, U. (2022). Pengaruh Kontrol Diri, Sosialisasi Orang Tua, dan Literasi Keuangan terhadap Perilaku Menabung. 3(2), 579–593.
Cuandra, F., & Desianti, D. (2022). Pengaruh Financial Literacy, Peers Influence, Self-Control, Religious Belief Dan Parental Socialization Terhadap Saving Behavior. Jurnal Ilmu Manajemen, 10, 714–724.
Deniro, A. F. (2022). Pengaruh Literasi Keuangan, Sosialisasi Orang Tua, Teman Sebaya, Dan Pengendalian Diri Terhadap Perilaku Menabung Pada Mahasiswa Fakultas Ekonomi Dan Bisnis Universitas Musamus Merauke. Musamus Accounting Journal, 5(1), 36–56.
Faramida, H. N., Sabandi, M., & Octoria, D. (2023). The Influence of Financial Literacy, M-Banking Services on Saving Behavior Moderated by Gender and Self-Control. Economic Education Analysis Journal, 12(3), 199–211. https://doi.org/10.15294/eeaj.v12i3.74210
Fatami, H. F., & Isbanah, Y. (2023). Pengaruh Literasi Keuangan, Inklusi Keuangan, Kontrol Diri, dan Teman Sebaya terhadap Perilaku Menabung Penggemar K-pop. Jurnal Ilmu Manajemen, 11(2), 482–494.
Gudmunson, C. G., & Danes, S. M. (2011). Family Financial Socialization: Theory and Critical Review. Journal of Family and Economic Issues, 32(4), 644–667. https://doi.org/10.1007/s10834-011-9275-y
Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2022). A PRIMER ON PARTIAL LEAST SQUARES STRUCTURAL EQUATION MODELING (PLS- SEM).
Iradianty, A., & Azizah, P. Z. (2023). Analisis Pengaruh Literasi Keuangan, Sosialisasi Keuangan Keluarga, dan Uang Saku Terhadap Minat Menabung pada Siswa Usia Remaja Kota Yogyakarta. Jurnal Orientasi Bisnis Dan Entrepreneurship (JOBS), 4(1), 13–22. https://doi.org/10.33476/jobs.v4i1.3600
Kassim, A. A. M. (2020). Students’ Saving Behaviour: Do Demographic Profile, Parents’ Background and Financial Literacy Matter? An Empirical Study in Private Universities in Selangor. International Journal of Psychosocial Rehabilitation, 24(1), 844–850. https://doi.org/10.37200/ijpr/v24i1/pr200190
Kusumawati, R., Akmalia, A., & Wardana, C. K. (2022). The Impact of Financial Literacy And Financial Technology On Financial Inclusion In Special Region of Yogyakarta , Indonesia. 1(5), 273–283. https://doi.org/10.36418/jws.v1i5.31
Luthfiannisa, G., & Meidiaswati, H. (2024). Pengaruh Family Financial Socialization, Income, Self-Control, Dan Financial Attitude Terhadap Saving Behavior Generasi Sandwich Di Kota Surabaya. Jurnal Ilmu Manajemen, 12, 71–82. https://doi.org/10.26740/jim.v12n1.p71-82
Mahdzan, N. S., & Tabiani, S. (2013). The Impact Of Financial Literacy On Individual Saving : An Exploratory Study In The Malaysian. 12(1), 41–55.
Mardiana, V., & Rochmawati, R. (2020). Self-Control Sebagai Moderasi Antara Pengetahuan Keuangan, Financial Attitude, Dan Uang Saku Terhadap Perilaku Menabung. Jurnal Pendidikan Ilmu Sosial, 30(2), 83–98. https://doi.org/10.23917/jpis.v30i2.11872
Nursofia, A., Hermawan, Y., & Nurdianti, R. (2024). Pengaruh Literasi Keuangan dan Kontrol Diri terhadap Perilaku Menabung Generasi Z. Jurnal Sains Student Research, 2(3), 814–826. https://doi.org/10.29313/bcsbm.v3i2.9141
OJK. (2024). Survei Nasional Literasi dan Inklusi Keuangan.
Prempeh, A., Osei, B., & Osei, F. (2024). Financial Literacy and Saving Behaviour Among Tertiary Students. 14(1), 115–142.
Putri, E. B., & Wahjudi, E. (2022). Pengaruh Literasi Finansial, Inklusi Keuangan, Teman Sebaya, dan Kontrol Diri terhadap Perilaku Menabung Mahasiswa. Jurnal Pendidikan Akuntansi (JPAK), 10(3), 217–231. https://doi.org/10.26740/jpak.v10n3.p217-231
Salim, A. S., & Pamungkas, A. S. (2022). The Influence of Financial Literacy, Parental Socialization, and Peer Influences on Saving Behavior. Advances in Economics, Business and Management Research, 655(Ticash 2021), 1356–1361. https://doi.org/10.2991/assehr.k.220404.217
Setyowati, E. (2023). Pengaruh Literasi Keuangan dan Teman Sebaya terhadap Perilaku Menabung dengan Kontrol Diri sebagai Variabel Mediasi pada Mahasiswa. Universitas Negeri Jakarta.
Suwatno, S., Waspada, I., & Mulyani, H. (2021). Forming Student’s Saving Behaviour through Financial Literacy, Parental Financial Education, and Self Control. Jurnal Pendidikan Akuntansi & Keuangan, 9(2), 127–136. https://doi.org/10.17509/jpak.v9i2.34944
Winda Puspa, S., & Nikmah. (2023). JIMEA | Jurnal Ilmiah MEA ( Manajemen , Ekonomi , dan Akuntansi ). JIMEA Jurnal Ilmiah MEA (Manajemen, Ekonomi, Dan Akuntansi), 7(3), 1592–1608.
Yulianti, Witarsa, & Ulfah, M. (2025). Pengaruh Self Control dan Literasi Keuanga terhadap Pengelolaan Keuangan Mahasiswa. 14, 2715–2723.
Zulaika, M. D. S., & Listiadi, A. (2020). Literasi Keuangan, Uang Saku, Kontrol Diri, dan Teman Sebaya Terhadap Perilaku Menabung Mahasiswa. Ekuitas: Jurnal Pendidikan Ekonomi, 8(2), 137–146.
Published
2026-03-27
How to Cite
Maajid, M. L. A., & Hindasah, L. (2026). DETERMINANTS OF STUDENT SAVING BEHAVIOR : THE INFLUENCE OF FINANCIAL LITERACY, FAMILY FINANCIAL SOCIALIZATION, SELF-CONTROL AND PEER INFLUENCE. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 10(1), 2148-2165. https://doi.org/10.31955/mea.v10i1.7316
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