The Effect of Financial Literacy and Self Control on Personal Financial Management: A Study on 2021 Cohort Management Students at Universitas Muhammadiyah Buton Dwi Agustyawati1, Muhammad Rais.R2, Nur Zarliani Uli3, Wa Ode Destirama4
Universitas Muhammadiyah Buton
Abstract
This study aims to analyze the influence of financial literacy and self-control on the personal financial management of Management Study Program students of the 2021 cohort at Universitas Muhammadiyah Buton. This research employed a quantitative approach using primary data collected through a questionnaire. Data were obtained through field research, literature study, and a Likert-scale questionnaire. Multiple linear regression was used to examine the effect of financial literacy and self-control on personal financial management.
The results show that both financial literacy (X1) and self-control (X2) have a positive and significant partial influence on personal financial management (Y). The t-test results indicate that financial literacy has a t-value of 3.334 and self-control has a t-value of 2.437, both exceeding the t-table value of 2.045, with significance levels of 0.002 and 0.021 respectively. Simultaneously, financial literacy and self control also demonstrate a positive and significant influence on personal financial management, as reflected in the F-test value of 25.789 with a significance level of 0.000. These findings indicate that financial literacy and self-control play an important role in shaping effective personal financial management.
Keywords: Financial Literacy, Self Control, Personal Financial Management
