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Building financial well-being through financial socialization and literacy A study of millennial employees at PT. Solusi Bangun Indonesia Tbk

Author

Listed:
  • Zahrotul Auliya Rahmawati

    (Universitas Brawijaya)

  • Nur Khusniyah Indrawati

    (Universitas Brawijaya)

  • Siti Aisjah

    (Universitas Brawijaya)

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. Key Words:Financial Socializatio, Financial Literacy, Milenial Generation, Financial Well-Being

Suggested Citation

  • Zahrotul Auliya Rahmawati & Nur Khusniyah Indrawati & Siti Aisjah, 2024. "Building financial well-being through financial socialization and literacy A study of millennial employees at PT. Solusi Bangun Indonesia Tbk," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 13(5), pages 450-462, July.
    • Handle: RePEc:rbs:ijbrss:v:13:y:2024:i:5:p:450-462
    DOI: 10.20525/ijrbs.v13i5.3577
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    References listed on IDEAS

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    3. Ashley B. LeBaron & Heather H. Kelley, 2021. "Financial Socialization: A Decade in Review," Journal of Family and Economic Issues, Springer, vol. 42(1), pages 195-206, July.
    4. Annette Otto & Paul Webley, 2016. "Saving, Selling, Earning, and Negotiating: How Adolescents Acquire Monetary Lump Sums and Who Considers Saving," Journal of Consumer Affairs, Wiley Blackwell, vol. 50(2), pages 342-371, July.
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