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Financial Literacy and Financial Behavior of Freshmen in University of Sumatera Utara

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This study aimed to analyze the effect of financial literacy on the financial behavior new students in University of Sumatera Utara and analyze the differences in financial behavior of new students in University of Sumatera Utara 2016 based on its level of financial literacy. This research is descriptive and comparative qualitative approach. The study population was the first-year students in University of Sumatera Utara in 2016. The sample selection is done by accidental sampling method. The data used primary data obtained from a survey of 97 respondents. The data analysis by descriptive statistics and Kruskal-Wallis test. The results showed that overall, respondents could answer more than half the questions correctly with an average of 74.85 percent, so that it can be concluded that the level of financial literacy freshman in University of Sumatera Utara in 2016 fall into the category of being. However, there are differences in financial behavior of new students of University of Sumatera Utara in 2016 based on its level of financial literacy. In addition, the results showed no correlation between financial literacy and financial behavior.
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Keywords: Financial Behavior; Financial Literacy; Sociodemographic Factors

Document Type: Research Article

Affiliations: Management Department, Faculty of Economic and Business, University of Sumatera Utara, Jl. Prof. T.M Hanafiah, SH, Kampus USU Medan 20155, Indonesia

Publication date: July 1, 2018

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  • ADVANCED SCIENCE LETTERS is an international peer-reviewed journal with a very wide-ranging coverage, consolidates research activities in all areas of (1) Physical Sciences, (2) Biological Sciences, (3) Mathematical Sciences, (4) Engineering, (5) Computer and Information Sciences, and (6) Geosciences to publish original short communications, full research papers and timely brief (mini) reviews with authors photo and biography encompassing the basic and applied research and current developments in educational aspects of these scientific areas.
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