Influence of allowance, lifestyle, and financial inclusion on financial management practice among Indonesia college students

https://doi.org/10.35912/ijfam.v7i1.2270
Published: Jun 18, 2025

Abstract:

Purpose: This study investigates how young adults manage their finances. It examines the impact of three factors: allowance (pocket money), financial habits (lifestyle), and access to financial services (inclusion).

Methods: The study population comprised college students in Bandung, Indonesia. A sample of 159 college students was selected to understand their financial management practices and related factors.

Results: The study found that Allowance and financial inclusion significantly influenced how young adults managed their finances. These factors were found to have a significant impact, with p-values less than 0.05. Students who manage their income exhibit better budgeting and spending habits. Access to financial services positively affects students' financial management skills and encourages safer savings methods. However, lifestyle factors did not significantly impact financial management, contrary to the findings of previous research. This suggests that other factors might be more crucial for financial discipline.

Conclusions: This study finds that pocket money and financial inclusion significantly enhance financial management skills among university students, while lifestyle has little impact, highlighting the need for education that fosters saving, investing, and responsible financial behavior.

Limitations: This study focused on a specific student population in Bandung, Indonesia. Further research is required to determine whether these findings apply to broader demographic groups.

Contribution: This study underscores the role of schools and families in enhancing students’ financial literacy through education, allowances, and financial inclusion.

Novelty: This study reveals that lifestyle habits have a limited impact on financial management among tech-savvy youth, suggesting the need to reconsider financial education strategies, particularly in trend-driven contexts such as Bandung.

Keywords:
1. financial inclusion
2. financial literacy
3. lifestyle
4. personal financial management
5. pocket money
Authors:
1 . Sri Zaniarti
Universitas Kristen Maranatha, Indonesia
2 . Meily Margaretha
Universitas Kristen Maranatha, Indonesia
https://orcid.org/0000-0001-8617-1924
3 . Arie Danu Subagja
Universitas Kristen Maranatha, Indonesia
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How to Cite
Zaniarti, S., Margaretha, M. ., & Subagja, A. D. (2025). Influence of allowance, lifestyle, and financial inclusion on financial management practice among Indonesia college students. International Journal of Financial, Accounting, and Management, 7(1), 1–13. https://doi.org/10.35912/ijfam.v7i1.2270
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Vol. 7 No. 1 (2025): June
Articles
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  2. Ahmad, N. W., Idrus, M., & Nuraisyiah, N. (2024). Analysis of Internal Control Systems for Inventory of Raw Materials: A Study at PT. Industri Kapal Indonesia. Pinisi Journal of Art, Humanity, and Social Studies, 4(3), 173-180.
  3. Al-Hasnawi, H., & Abdel, N. A. (2024). THE IMPACT OF USING INTERNAL CONTROL UNDER THE ELECTRONIC OPERATING SYSTEM. International journal of business and management sciences, 4(05), 119-140. https://doi.org/10.55640/ijbms-04-05-11.
  4. Al-Mashhadi, A. S. J. (2021). Review on development of the internal control system. technology, 31, 35.
  5. Anggreini, T. A., & Sulistyawati, A. I. (2023). Evaluasi Sistem Pengendalian Intern Terhadap Produk Rusak. Solusi, 21(2), 593-604. 10.26623/slsi.v21i2.6412.
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  9. ESDM. (2018). KESELAMATAN SPBU: Pedoman Teknis dan Pembelajaran dari Kejadian.
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  15. Kamaluddin, N., & Haryati, M. A. (2020). Evaluasi Sistem Pengendalian Intern Terhadap Pemberian Kredit Bumdes Bangun Bersama. Monex: Journal of Accounting Research, 9(1), 109-118. DOI: https://doi.org/10.30591/monex.v9i1.1772.
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  20. Poluan, L., Morasa, J., & Afandi, D. (2021). Evaluasi Sistem Pengendalian Internal Kas Di PT. Bumi Selaras Asri (Golden Spring Dan Meeting Point) Manado. Jurnal LPPM Bidang EkoSosBudKum (Ekonomi, Sosial, Budaya, dan Hukum), 5(1), 68-75.
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