The Impact of Islamic Financial Literacy Education on Students' Financial Behavior: A Study at Association of Education Cultural International (AECI) Thailand

Yurmaini Yurmaini; Erliyanti Erliyanti; Budi Darma

doi:10.55927/fjst.v4i10.277

Authors

Yurmaini Yurmaini Universitas Alwashliyah Medan
Erliyanti Erliyanti Universitas Alwashliyah Medan
Budi Darma Universitas Alwashliyah Medan

DOI:

https://doi.org/10.55927/fjst.v4i10.277

Keywords:

Islamic Financial Literacy, Financial Behavior, Education, Thailand

Abstract

This study examines the influence of Islamic financial literacy education on students’ financial behavior at the Association of Education Cultural International (AECI) Krabi, Thailand. The limited understanding of Sharia-based financial concepts highlights the importance of early financial literacy education. Using a quantitative approach with a survey method and simple linear regression analysis, the findings reveal that Islamic financial literacy education has a positive and significant effect on students’ financial behavior. Students with higher literacy levels tend to manage their finances more wisely by saving, avoiding interest-based transactions, and planning expenditures according to Islamic values. These results emphasize the crucial role of Islamic financial literacy education in fostering ethical and sustainable financial behavior.

References

Capra Abad-Segura, E., & González-Zamar, M. D. (2019). Effects of financial education and financial literacy on creative entrepreneurship: A worldwide research. Education Sciences, 9(3), 238.

Agusmin, M., & Rozali, R. D. Y. (2019). Studi literasi keuangan dalam meningkatkan perilaku menabung remaja. Seminar Internasional Riksa Bahasa.

Aren, S., & Aydemir, S. D. (2014). A literature review on financial literacy. Finansal Araştırmalar ve Çalışmalar Dergisi, 6(11), 33–49.

Atkinson, A., & Messy, F.-A. (2012). Measuring financial literacy: Results of the OECD / International Network on Financial Education (INFE) pilot study. OECD Working Papers on Finance, Insurance and Private Pensions, No. 15.

Baihaqqy, M. R. I., Disman, N., Sari, M., & Ikhsan, S. (2020). The effect of financial literacy on the investment decision. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 3(4), 3073–3083.

Fitriani. (2022). Pengaruh literasi keuangan syariah terhadap perilaku konsumsi mahasiswa di Universitas Islam Negeri Jakarta [Undergraduate thesis, Universitas Islam Negeri Syarif Hidayatullah Jakarta].

Husna, N., & Rahmawati, M. (2020). Pentingnya literasi keuangan syariah dalam membangun karakter ekonomi Islam pada remaja. Jurnal Ekonomi dan Keuangan Islam, 6(1), 45–54.

Kuncoro, M. (2018). Metode kuantitatif: Teori dan aplikasi untuk bisnis & ekonomi (5th ed.). Erlangga.

Lusardi, A., & Mitchell, O. S. (2011). Financial literacy around the world: An overview. Journal of Pension Economics & Finance, 10(4), 497–508.

Lusardi, A., & Mitchell, O. S. (2014). The economic importance of financial literacy: Theory and evidence. Journal of Economic Literature, 52(1), 5–44.

Mulyaningtyas, I. F., Soesatyo, Y., & Sakti, N. C. (2020). Pengaruh pengetahuan tentang bank syariah dan literasi keuangan terhadap minat menabung siswa pada bank syariah di kelas XI IPS MAN 2 Kota Malang. Jurnal Ekonomi Pendidikan dan Kewirausahaan, 8(1), 53–66.

OECD. (2020). Thailand: Financial literacy in ASEAN. OECD iLibrary.

OJK. (2017). Strategi Nasional Literasi Keuangan Indonesia (SNLKI) Revisit 2017. Otoritas Jasa Keuangan.

Rahmawati, S., & Hasan, M. (2021). Literasi keuangan syariah dan implikasinya terhadap perilaku menabung siswa Madrasah Aliyah. Jurnal Ekonomi Syariah dan Pendidikan, 5(2), 110–120.

Ritonga, A. A. L., & Yarham, M. (2023). Pengaruh literasi keuangan dan inklusi keuangan terhadap keputusan mahasiswa dalam menggunakan produk dan jasa bank syariah. Jurnal Perbankan Syariah, 2(2), 12–20.

Stockemer, D., Stockemer, G., & Glaeser, J. (2019). Quantitative methods for the social sciences (Vol. 50, p. 185). Springer International Publishing.

Tuffour, J. K., Amoako, A. A., & Amartey, E. O. (2022). Assessing the effect of financial literacy among managers on the performance of small-scale enterprises. Global Business Review, 23(5), 1200–1217.

VISA Asia Pacific. (2018). Financial literacy program in Thailand.

Widjanarko, W., Hidayat, W. W., Prasetyo, E. T., & Eprianto, I. (2022). The effect of financial literacy on the financial management of MSMEs in Jatinangor District, Sumedang Regency. Enrichment: Journal of Management, 12(5), 3359–3364.

Xiao, J. J. (2008). Applying behavior theories to financial behavior. In J. J. Xiao (Ed.), Handbook of consumer finance research. Springer.

Yurmaini, R. H. M., Erliyanti, & M. T. (2022). Pengaruh literasi keuangan, pemahaman shariah governance terhadap keputusan penggunaan jasa perbankan syariah. Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan, 5(2), 843–853.

Yurmaini, Y., Erliyanti, E., Sundari, D., & Anshari, K. (2024). Pendekatan dalam penelitian kuantitatif dan kualitatif. Hibrul Ulama, 6(1), 83–90.

Yusuf, A. (2020). Pengaruh edukasi keuangan syariah terhadap pengambilan keputusan keuangan remaja [Master’s thesis, Universitas Islam Negeri Sunan Kalijaga Yogyakarta].

ra, G. V., & Zimbardo, P. G. (2004). Personalizing politics: A congruency model of political preference. American Psychologist.

Diener, E. (2000). Subjective well-being: The science of happiness and a proposal for a national index. American Psychologist.

Haerani, S., Parmitasari, R. D. A., Aponno, E. H., & Aunalal, Z. I. (2019). Moderating effects of age on personality, driving behavior towards driving outcomes. International Journal of Human Rights in Healthcare.

Lusardi, A., Mitchell, O. S., & Curto, V. (2010). Financial literacy among the young: Evidence and implications. National Bureau of Economic Research, 358–380. Retrieved from

Sabri, M. F., & MacDonald, M. (2010). Savings Behavior and Financial Problems among College Students: The Role of Financial Literacy in Malaysia | Sabri | Cross-cultural Communication. Crosscultural Communication.