Determinants of Financial Management Behavior among University Students: The Roles of Financial Literacy, Financial Anxiety, and Self-Control

Abstract

The present study investigates how financial literacy, financial anxiety, and self-control contribute to students' financial management behavior among undergraduates at the Faculty of Economics and Business, University of Jember. A quantitative approach employing an explanatory research design was used to investigate the proposed associations among the study variables. The research population comprised 4,478 diploma and undergraduate students enrolled in the faculty. The required sample of 367 respondents was determined using the Slovin formula, after which the participants were selected through a proportionate stratified random sampling procedure to ensure adequate representation of each subgroup within the population. Primary data were collected through a structured online questionnaire distributed via Google Forms and analyzed using multiple linear regression. The findings demonstrate that financial literacy and self-control positively and significantly influence students' financial management behavior, whereas financial anxiety does not have a statistically significant effect. The research outcomes indicate the importance of strengthening financial literacy and self-control to promote responsible financial management and improve students' financial decision-making.