Balqis Syathiri, Aula Ahmad Hafidh Saiful Fikri

The Effect of Pocket Money Management and Future Orientation on the Saving Behavior of Yogyakarta Students with Saving Intention as a Mediation Variable and Financial Attitude as a Moderation Variable

Introduction

The effect of pocket money management and future orientation on the saving behavior of yogyakarta students with saving intention as a mediation variable and financial attitude as a moderation variable . Study explores how pocket money, future orientation, and financial attitudes impact saving behavior among Yogyakarta students, mediated by saving intention.

Abstract

This study aims to find out (1) the influence of Pocket Money on Saving Behavior, (2) the influence of Future Orientation on Saving Behavior, (3) the influence of Saving Intention on Saving Behavior, (4) the influence of Pocket Money on Saving Behavior mediated by the Saving Intention variable, (5) the influence of Future Orientation on Saving Behavior mediated by the Saving Intention variable, (6) the effect of Saving Intention on Saving Behavior moderated by the Financial Attitude variable. This study is a quantitative research that analyzes whether or not there is a causal relationship between the variables described. The population in this study is 129,853 active students who are pursuing higher education in the Special Region of Yogyakarta. The sample of this study is 399 students who were selected through nonprobability sampling with the research sample taken using convenience sampling techniques. Data was collected through questionnaires, interviews, and analyzed using structural equation modeling (SEM) to simultaneously test all relationships. The results of the study showed that (1) Pocket Money had a positive effect on Saving Behavior, (2) Future Orientation had a positive effect on Saving Behavior, (3) Saving Intention had a positive effect on Saving Behavior, (4) Saving Intention was able to mediate the influence of Pocket Money on Saving Behavior, (5) Saving Intention is able to mediate the influence of Future Orientation on Saving Behavior mediated by the Saving Intention variable, (6) Financial Attitude is able to moderate the influence of Saving Intention on Saving Behavior.

Review

This study presents an ambitious investigation into the determinants of saving behavior among students in Yogyakarta, offering a comprehensive model that integrates direct, mediated, and moderated effects. By examining the influence of pocket money management, future orientation, saving intention, and financial attitude, the research contributes to understanding the multifaceted nature of financial decision-making in young adults. The chosen variables are highly relevant to the promotion of financial literacy and responsible saving habits within this demographic, and the study's aim to uncover the complex interplay between psychological predispositions and practical financial aspects is commendable. Methodologically, the research employs a quantitative approach, utilizing Structural Equation Modeling (SEM) to analyze the causal relationships among its six hypotheses. With a sample of 399 students drawn from the substantial student population in the Special Region of Yogyakarta, and data collected through a combination of questionnaires and interviews, the study provides a solid empirical foundation. The findings consistently reveal positive effects: pocket money, future orientation, and saving intention all positively predict saving behavior. Notably, saving intention is confirmed as a crucial mediator between both pocket money and future orientation on saving behavior. Furthermore, the identification of financial attitude as a moderator in the relationship between saving intention and saving behavior adds a significant layer of nuance to the model. A key strength of this research lies in its integrated model, which offers a deeper understanding than studies examining these factors in isolation. The specific context of Yogyakarta students also provides valuable regional insights. However, the use of nonprobability convenience sampling, while practical, may limit the generalizability of these findings to the broader student population or other cultural contexts. Future research could benefit from employing more rigorous sampling strategies to enhance external validity. Nonetheless, the results yield important practical implications for developing targeted financial education programs, emphasizing the need to cultivate positive financial attitudes and a future-oriented mindset alongside practical money management skills to effectively foster saving intentions and behaviors among students.

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