A Conceptual Study on The Impact of Parental Influence in Improving Financial Literacy of University Students

  • Gianina Nadya Putri School of Business and Management, Institut Teknologi Bandung
  • Raden Aswin Rahadi School of Business and Management, Institut Teknologi Bandung
  • Adhya Rare Tiara School of Business and Management, Institut Teknologi Bandung
Keywords: financial literacy, financial socialization, conceptual study, parents, university students

Abstract

Financial independence usually begins when someone starts attending university because at that time parents usually give authority to their children to manage their own finances. Financial literacy is one of the competences which people really need in current times to make various financial decisions. Parents become very critical agents in the development of children's financial literacy level and it is proven that there is a relationship between financial literacy and parental financial socialization. According to this study the factors that influence the success of parental socialization in increasing children's financial literacy are parents' experience, role modeling, financial communication, money allowance, and financial monitoring.

 

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Author Biography

Adhya Rare Tiara, School of Business and Management, Institut Teknologi Bandung

Graduated from Industrial Engineering, Institut Teknologi Bandung (ITB) in 2014. She was a fast-track student and got her master degree from Industrial Engineering and Management in the next year. After completed her master degree, she worked as a part-time lecturer in Telkom University and Institut Teknologi Nasional (Itenas). She also worked in consulting industry for 4 years and was involved in several projects with Indonesian State-Own Enterprise. In 2018 she published a research about value chain and innovation in Int. J. Technological Learning, Innovation and Development.Graduated Worked. Currently, she works as part-time lecturer in School of Business and Management ITB. 

 

 

Published
2020-04-03
How to Cite
Putri, G., Rahadi, R. A., & Tiara, A. R. (2020). A Conceptual Study on The Impact of Parental Influence in Improving Financial Literacy of University Students. Asia Pacific Journal of Social Science Research, 5(1), 12-20. https://doi.org/10.37263/apjssr.v5i1.61
Section
Articles