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The Influence of Financial Literacy on Debt Management Behavior (Study on Millennial Generation in Bandung)

In: Proceedings of the 9th Global Conference on Business, Management and Entrepreneurship (GCBME 2024)

Author

Listed:
  • Faishal Dzaky Affianto

    (Universitas Pendidikan Indonesia)

  • Maya Sari

    (Universitas Pendidikan Indonesia)

Abstract

Everyone has needs and desires that must be met to achieve life goals, requiring effort to fulfill them for satisfaction and well-being. The “sandwich generation” is a term that refers to individuals facing financial challenges, particularly financial instability, due to the burden of supporting both older and younger generations. This generation often experiences financial strain from double spending, leading to reliance on debt. The sandwich generation consists largely of millennials, known for their high consumer lifestyle and frequent dependence on debt to satisfy their wants. Financial literacy plays a key role in supporting sound financial planning and management, helping to maintain financial stability and reduce the risk of excessive debt. This research uses a descriptive and verification approach to explore financial literacy’s impact on debt management behavior. A quantitative method was employed, with questionnaires distributed to 270 millennial respondents in Bandung. Simple linear regression analysis showed that financial literacy positively influences debt management behavior, meaning that higher financial literacy correlates with improved debt management behavior.

Suggested Citation

  • Faishal Dzaky Affianto & Maya Sari, 2025. "The Influence of Financial Literacy on Debt Management Behavior (Study on Millennial Generation in Bandung)," Advances in Economics, Business and Management Research, in: Ratih Hurriyati & Sulastri Sulastri & Lisnawati Lisnawati & Lili Adi Wibowo (ed.), Proceedings of the 9th Global Conference on Business, Management and Entrepreneurship (GCBME 2024), pages 263-271, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-817-2_33
    DOI: 10.2991/978-94-6463-817-2_33
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