Proceedings of the 8th International Conference on Entrepreneurship and Business Management (ICEBM 2019) UNTAR

Analysis of the Effectiveness of Financial Education for Students in Higher Education to Increase Financial Literacy (Case Study: Financial Planning Class in Maranatha Christian University)

Authors
Maya Malinda, Miki Tjandra, Asni Harianti, Olivia Vania Olius
Corresponding Author
Maya Malinda
Available Online 29 June 2020.
DOI
https://doi.org/10.2991/aebmr.k.200626.026How to use a DOI?
Keywords
Financial Education, Higher Education, Financial Literacy, Financial Planning
Abstract

Financial literacy is a term that is currently used in many papers about a person’s literacy in managing his / her finance. Someone is said to be financially literate when he or she is able to take advantage of financial institutions and manage his / her finance. The efforts to improve financial literacy, one of them is by utilizing the education on financial planning. Maranatha Christian University has been carrying out financial planning education since the 2007 curriculum was applied as one of the subjects mandatory in financial management concentration. The aim of this education is to increase financial literacy in the students‘ realm. The purpose of this research was to convey the educational result from the students in financial planning course to the behavior of financial literacy. The criteria of financially literate are a person can understand and practice financial management, saving/investing, insurance & estate planning, credit, and shopping. Therefore, further study is needed on whether or not there is a change in the understanding and the score of students in managing their finances because of financial planning education. The method for testing used in this paper was built by O’Neill, which was the Financial-Fitness Quiz (FFQ), to find out whether there is a difference among the students before and after taking the financial planning subject, by using Wilcoxon-Test. The data used in this research was a population of students who took the financial planning courses during the odd semester of 2017/2018 academic year as many as fifty-two persons consisting of twenty-two males and thirty females. The result showed significantly different score before and after undertaking the financial planning class. However, it has not been proven that the financial planning education is effective to increase Financial Literacy, especially in the Financial Management and Saving and Investment criteria.

Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

Volume Title
Proceedings of the 8th International Conference on Entrepreneurship and Business Management (ICEBM 2019) UNTAR
Series
Advances in Economics, Business and Management Research
Publication Date
29 June 2020
ISBN
10.2991/aebmr.k.200626.026
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.200626.026How to use a DOI?
Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Maya Malinda
AU  - Miki Tjandra
AU  - Asni Harianti
AU  - Olivia Vania Olius
PY  - 2020
DA  - 2020/06/29
TI  - Analysis of the Effectiveness of Financial Education for Students in Higher Education to Increase Financial Literacy (Case Study: Financial Planning Class in Maranatha Christian University)
BT  - Proceedings of the 8th International Conference on Entrepreneurship and Business Management (ICEBM 2019) UNTAR
PB  - Atlantis Press
SP  - 139
EP  - 145
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200626.026
DO  - https://doi.org/10.2991/aebmr.k.200626.026
ID  - Malinda2020
ER  -