PERSONAL SPENDING MANAGEMENT HABITS AND RESPONSIBLE FINANCIAL BEHAVIOR
DOI:
https://doi.org/10.54783/vwnph059Keywords:
Responsible financial behavior, financial literacy, spending management habits, financial attitude and future orientation, impulsive spending tendencyAbstract
In the context of increasingly complex spending habits and personal financial management demands among young individuals, this study aims to identify the determinants of responsible financial behavior (RFB). The research model incorporates five constructs derived from the survey instrument: (i) spending management habits (SMH), (ii) self-perceived financial literacy (SPFL), (iii) family and peer influence (FPI),
(iv) financial attitude and future orientation (FAFO), and (v) impulsive spending tendency (IST). The dataset consists of 960 valid observations. All measurement scales exhibit high reliability (Cronbach’s Alpha 0.838–0.954), and factor structures were validated through Exploratory Factor Analysis (KMO = 0.959; p < 0.001). FGLS regression results reveal four statistically significant predictors: SMH, SPFL, and FAFO exert positive effects on RFB, whereas IST has a negative impact. FPI shows no statistical significance (p > 0.05). The model explains 59.2% of the variance in responsible financial behavior (R² = 0.5921). These findings underscore the importance of financial knowledge, attitudes, and habitual practices while highlighting the detrimental influence of impulsive spending on young adults’ financial well-being.
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