Financial Literacy; Strategies and Concepts in Understanding the Financial Planning With Self-Efficacy Theory and Goal Setting Theory of Motivation Approach

Muizzuddin, Muizzuddin and Taufik, Taufik and Ghasarma, Reza and Putri, Leonita and Adam, Mohamad (2017) Financial Literacy; Strategies and Concepts in Understanding the Financial Planning With Self-Efficacy Theory and Goal Setting Theory of Motivation Approach. International Journal of Economics and Financial Issues, 7 (4). pp. 182-188. ISSN 2146-4138

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Abstract

This article discusses the strategies and concepts in understanding the financial literacy with the approach of self-efficacy theory and goal setting theory of motivation. The discussion begins with the concept of behavioral finance that discusses links between financial concepts to the behavior, and then proceed with the concept and measurement of financial literacy of individuals altogether with some approaches and factors that may affect it. Self-efficacy theory and goal setting theory of motivation is proposed to be a predictive factor of the level of financial literacy with relevant constructs, there are two propositions proposed to predict the level of financial literacy: (1) Self-efficacy theory, in this case the motivational construct (manage finances, use credit cards less, and control debt), and (2) goal setting theory of motivation, in this case the goal commitment and goal specificity construct (financial planning).

Item Type:	Article
Subjects:	#3 Repository of Lecturer Academic Credit Systems (TPAK) > Articles Access for TPAK (Not Open Sources)
Divisions:	01-Faculty of Economics > 61201-Management (S1)
Depositing User:	Tn Taufik Taufik
Date Deposited:	11 May 2023 15:20
Last Modified:	11 May 2023 15:20
URI:	http://repository.unsri.ac.id/id/eprint/102001

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