Financial management behaviour in supporting the sustainability of MSMEs in the Sarbagita region Bali

https://doi.org/10.35912/ijfam.v7i2.2741
Published: Sep 3, 2025

Abstract:

Purpose: This study aims to analyse the role of FMB in supporting the sustainability of MSMEs. This analysis is essential because financial management among MSMEs in Bali remains suboptimal, with challenges in separating personal and business finances.

Methodology/approach: Denpasar, Badung, Gianyar, and Tabanan Regency (Sarbagita) were chosen as research locations based on previous observations. The adoption of FinTech and the measurement of FinSat in achieving financial performance (FP) have been under-researched. This research was conducted quantitatively to analyse the FP of MSMEs in achieving business sustainability.

Results/findings: DFL has a positive and significant influence on FMB, and FinTech has a positive and significant impact on FinSat. However, FinSat positively and significantly influences FP. FinSat mediates the relationship between FinTech and FP, but FMB does not mediate the relationship between DFL and FP.

Conclusions: The implementation of Fintech helps owners achieve FinSat, thereby meeting MSME performance targets. Individuals must have DFL to mitigate the risks associated with Fintech

Limitations: The research location, which is limited to only four regencies/cities in Bali, presents a limitation, making the results not generalizable to all MSMEs. Additionally, the financial management aspect of this study does not include the financial conditions of previous periods.

Contribution: The research findings contribute to the development of personal financial management science and are utilized in MSME mentoring to optimize their business sustainability.

Keywords:
1. Financial Management Behaviour
2. Financial Performance
3. Financial Satisfaction
4. Financial Technology
5. MSME
Authors:
1 . I Gusti Agung Prabandari Tri Putri
Primakara University, Denpasar, Bali, Indonesia
2 . Made Irma Dwiputranti
Primakara University, Denpasar, Bali, Indonesia
3 . Fikri Salilama
Primakara University, Denpasar, Bali, Indonesia
4 . Yasmin Fazilah Baswedan
Primakara University, Denpasar, Bali, Indonesia
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How to Cite
Putri, I. G. A. P. T. ., Dwiputranti, M. I. ., Salilama, F., & Baswedan, Y. F. (2025). Financial management behaviour in supporting the sustainability of MSMEs in the Sarbagita region Bali. International Journal of Financial, Accounting, and Management, 7(2), 213–227. https://doi.org/10.35912/ijfam.v7i2.2741
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Issue & Section
Vol. 7 No. 2 (2025): September
Articles
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    Alamsyah, M. F., & Islami, R. N. (2023). Influence Of Financial Technology (Fintech) On Msme Financial Performance In Gorontalo City. Economics and Digital Business Review, 4(1), 77-85. doi:https://doi.org/10.37531/ecotal.v4i1.288

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    Amri, A., Ramdani, Z., Warsihna, J., & Tae, L. F. (2022). The Development and Validation of Financial Management Behavior (FMB) Scale in Postgraduate Students. Jurnal Manajemen Indonesia, 22(2), 189-198. doi:https://doi.org/10.25124/jmi.v22i2.4006

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    Iswari, H. R. (2022). The Role of Financial Literacy on the Financial Performance with Financial Behavior as a Mediation (Case Study on Creative Industry Startups in Malang). Daengku: Journal of Humanities and Social Sciences Innovation, 2(5), 688-700. doi:https://doi.org/10.35877/454RI.daengku1134

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    Kusumawardhani, R., Ningrum, N. K., & Rinofah, R. (2023). Investigating Digital Financial Literacy and its Impact on SMEs’ Performance: Evidence From Indonesia. International Journal of Professional Business Review: Int. J. Prof. Bus. Rev., 8(12), 5. doi:https://doi.org/10.26668/businessreview/2023.v8i12.4097

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  1. Abdallah, W., Tfaily, F., & Harraf, A. (2025). The impact of digital financial literacy on financial behavior: customers’ perspective. Competitiveness Review: An International Business Journal, 35(2), 347-370. doi:https://doi.org/10.1108/CR-11-2023-0297
  2. Adiputra, I. G. (2021). The influence of financial literacy, financial attitude and locus of control on financial satisfaction: Evidence from the community in Jakarta. KnE Social Sciences, 636–654-636–654. doi:https://doi.org/10.18502/kss.v5i5.8848
  3. Adriani, J. (2021). Factors Affecting Financial Behaviors:: Studies in Students Who Do Venture Creation. International Journal of Review Management Business and Entrepreneurship (RMBE), 1(2), 191-204. doi:https://doi.org/10.37715/rmbe.v1i2.2427
  4. Afdal, Z., Siwi, M. K., & Kurniawati, T. (2021). MSMEs Business Sustainability: A Literature Review. Paper presented at the Seventh Padang International Conference On Economics Education, Economics, Business and Management, Accounting and Entrepreneurship (PICEEBA 2021).
  5. Alamsyah, M. F., & Islami, R. N. (2023). Influence Of Financial Technology (Fintech) On Msme Financial Performance In Gorontalo City. Economics and Digital Business Review, 4(1), 77-85. doi:https://doi.org/10.37531/ecotal.v4i1.288
  6. Alkhawaldeh, B., Alhawamdeh, H., Al-Afeef, M., Al-Smadi, A., Almarshad, M., Fraihat, B., . . . Alaa, A. (2023). The effect of financial technology on financial performance in Jordanian SMEs: The role of financial satisfaction. Uncertain Supply Chain Management, 11(3), 1019-1030. doi:https://doi.org/10.5267/j.uscm.2023.4.020
  7. Amri, A., Ramdani, Z., Warsihna, J., & Tae, L. F. (2022). The Development and Validation of Financial Management Behavior (FMB) Scale in Postgraduate Students. Jurnal Manajemen Indonesia, 22(2), 189-198. doi:https://doi.org/10.25124/jmi.v22i2.4006
  8. Ananda, G. C., Faried, A., Syaula, M., & Malay, I. (2023). The effect of financial literacy and financial technology on financial performance (Case study: Desa Kebun Kelapa). International Journal of Management, Economic and Accounting, 1(2), 81-93. doi:https://doi.org/10.61306/ijmea.v1i2.9
  9. Anoke, A. F., Onu, A. N., & Agagbo, O. C. (2022). Managerial competencies and growth of small and medium enterprise (SMEs) in Abuja Metropolis, Nigeria. International Journal of Financial, Accounting, and Management, 4(3), 255-268. doi:https://doi.org/10.35912/ijfam.v4i3.811
  10. Bulger, M. E., Mayer, R. E., & Metzger, M. J. (2014). Knowledge and processes that predict proficiency in digital literacy. Reading and Writing, 27, 1567-1583. doi:https://doi.org/10.1007/s11145-014-9507-2
  11. diskopukm.baliprov.go.id. (2023). DATA KERAGAAN UMKM BALI TAHUN 2023. Retrieved from https://diskopukm.baliprov.go.id/wp-content/uploads/2023/09/0-Data-Keragaan-2023-Menurut-Data-Akhir-Desember-2022.pdf
  12. Dissanayake, H., Iddagoda, A., Rukshan, T., & Deshika, T. (2023). Digital Financial Literacy and Entrepreneurial Performance: A Percipience From a Developing Economy Digitalization, Sustainable Development, and Industry 5.0: An Organizational Model for Twin Transitions (pp. 67-81): Emerald Publishing Limited.
  13. Divianto, D., Kamaludin, K., Santi, F., & Saiful, S. (2024). The impact of intellectual capital on business efficiency and financial success in creative SMEs. International Journal of Financial, Accounting, and Management, 6(3), 361-383. doi:https://doi.org/10.35912/ijfam.v6i3.2512
  14. E, V., & Swarupa, G. (2022). Gauging the Impact of Digital Financial Literacy on MSME Firms’ Performance in India. Paper presented at the Proceedings of the Global Conference on Innovations in Management and Business (GCIMB 2021).
  15. Farida, M. N., Soesatyo, Y., & Aji, T. S. (2021). Influence of financial literacy and use of financial technology on financial satisfaction through financial behavior. International journal of education and literacy studies, 9(1), 86-95. doi:https://doi.org/10.7575/aiac.ijels.v.9n.1p.86
  16. Fitriyah, F., Hermawan, A., & Sudarsono, N. (2023). The Impact Of Financial Literacy, Financial Attitudes And Financial Behaviour On MSMEs Growth. International Journal of Science, Technology & Management, 4(6), 1560-1566. doi:https://doi.org/10.46729/ijstm.v4i6.979
  17. Geriadi, M. A. D., Sawitri, N. P. Y. R., Wijaya, B. A., & Putri, I. G. A. P. T. (2023). Pengaruh Literasi Keuangan Terhadap Inklusi Keuangan Melalui Financial Technology. Jurnal Studi Manajemen Dan Bisnis, 10(2), 178-187. doi:https://doi.org/10.21107/jsmb.v10i2.23401
  18. Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2019). Multivariate Data Analysis: Cengage.
  19. Irman, M., Budiyanto, B., & Suwitho, S. (2023). Increasing financial inclusion through financial literacy and financial technology On MSMEs. International Journal Economics Development Research, 126-141. doi:https://doi.org/10.37385/ijedr.v2i2.273
  20. Iswari, H. R. (2022). The Role of Financial Literacy on the Financial Performance with Financial Behavior as a Mediation (Case Study on Creative Industry Startups in Malang). Daengku: Journal of Humanities and Social Sciences Innovation, 2(5), 688-700. doi:https://doi.org/10.35877/454RI.daengku1134
  21. Kapesa, T., Nyagadza, B., Mugano, G., & Cheza, A. (2023). Impact of the COVID-19 pandemic on survival of MSMEs in Zimbabwe. International Journal of Financial, Accounting, and Management, 5(2), 179-194. doi:https://doi.org/10.35912/ijfam.v5i2.1329
  22. Kovanovien?, V., Romeika, G., & Baumung, W. (2021). Creating value for the consumer through marketing communication tools. Journal of competitiveness., 13(1), 59-75. doi:https://doi.org/10.7441/joc.2021.01.04
  23. Kusumawardhani, R., Ningrum, N. K., & Rinofah, R. (2023). Investigating Digital Financial Literacy and its Impact on SMEs’ Performance: Evidence From Indonesia. International Journal of Professional Business Review: Int. J. Prof. Bus. Rev., 8(12), 5. doi:https://doi.org/10.26668/businessreview/2023.v8i12.4097
  24. Kwuta, M. S. I., Khuzaini, K., & Triyonowati, T. (2023). The influence of financial literacy on MSME performance is mediated by financial behavior and financial inclusion (Study in Kewapante District-Sikka Regency). Journal of Economics, Finance And Management Studies, 6(12). doi:https://doi.org/10.47191/jefms/v6-i12-19
  25. Mangawing, L. A., Sulianto, T., Sari, A. P., Jafri, L. A. U., & Ramadhan, W. (2023). The influence of digital financial literacy on MSME performance in Balikpapan city. Paper presented at the Proceeding of The International Seminar on Business, Economics, Social Science and Technology (ISBEST).
  26. Mbowa, H. S., Businge, M. P., Ssemaluulu, P., & Eton, M. (2023). Effect of women empowerment on women-owned business performance in Wakiso District, Uganda. International Journal of Financial, Accounting, and Management, 5(3), 343-358. doi:https://doi.org/10.35912/ijfam.v5i3.1687
  27. Mukarromah, D., & Jubaedah, M. A. (2020). Financial Performance Analysis on Micro, Small, and Medium Enterprises of Cassava Product in Cibadak, Lebak Regency, Banten. Jurnal Economia, 16(2), 257-268. doi:https://doi.org/10.21831/economia.v16i2.31232
  28. Mulyono, M. (2023). The impact of digital literacyon fintech service usage through financial literacy. Paper presented at the E3S Web of Conferences.
  29. Muzdalifa, I., Rahma, I. A., Novalia, B. G., & Rafsanjani, H. (2018). Peran fintech dalam meningkatkan keuangan inklusif pada UMKM di Indonesia (pendekatan keuangan syariah). Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 3(1), 1-24. doi:https://doi.org/10.30651/jms.v3i1.1618
  30. Nguyen, Q. K. (2022). The effect of FinTech development on financial stability in an emerging market: The role of market discipline. Research in Globalization, 5, 100105. doi:https://doi.org/10.1016/j.resglo.2022.100105
  31. Nugraha, D. F., Pratama, I. M., & Kustiawan, M. (2020). Financial satisfaction increase: effect of income and financial literacy factors (study of MSMEs). Paper presented at the 3rd International Conference on Research of Educational Administration and Management (ICREAM 2019).
  32. Nurchayati, N., Ariyanti, R., & Marianingsih, I. (2024). How Fintech Adoption, Digital Payment Systems, and Consumer Trust Shape Financial Performance of MSMEs. International Journal of Business, Law, and Education, 5(2), 2458-2469. doi:https://doi.org/10.56442/ijble.v5i2.895
  33. Pandak, A., & Nugroho, D. S. (2023). Pengaruh financial technology dan kemampuan manajerial terhadap kinerja keuangan UMKM. Indonesian Journal of Multidisciplinary on Social and Technology, 1(3), 311-320. doi:https://doi.org/10.31004/ijmst.v1i3.216
  34. Permatasari, P., & Kosasih, E. (2022). Analysis of small and medium enterprises’(SMEs) sustainability reporting to develop sustainability reporting guideline. International Journal of Entrepreneurship and Sustainability Studies, 2(1), 1-24. doi:https://doi.org/10.31098/ijeass.v2i1.822
  35. Purwidianti, W., Tubastuvi, N., Darmawan, A., & Rahmawati, I. Y. (2022). Does Financial Behavior Mediate The Relationship Between Financial Literacy and Financial Experience Towards Financial Performance of Small Businesses? Paper presented at the International Conference on Sustainable Innovation Track Accounting and Management Sciences (ICOSIAMS 2021).
  36. Putri, I. G. A. P. T., Putri, I. G. A. P. D., Dewi, D. P. N., Salilama, F., & Premana, I. M. S. (2024). TOEI Framework: Analysing Technology Adaptation for Supporting MSME Sustainability in Bali. Journal of Economic, Bussines and Accounting (COSTING), 7(5). doi:https://doi.org/10.31539/costing.v7i6.12996
  37. Rahadjeng, E. R., & Fiandari, Y. R. (2022). The Effect of Financial Technology on the Financial Satisfaction of MSMEs in Malang. Manajemen Bisnis, 12(1), 1-7.
  38. Ramdlaningrum, H., Armintasari, F., Aidha, C. N., & Ningrum, D. R. (2020). Dampak Covid19 Terhadap UMKM Perempuan.
  39. Ronen, J., & Livingstone, J. (1975). An expectancy theory approach to the motivational impacts of budgets. The Accounting Review, 50(4), 671-685.
  40. Sawitri, N., Sudiyani, N. N., Putri, I., Putri, C., & Geriadi, M. A. D. (2022). Encouraging Msme Growth By Improving Financial Literature and Financial Inclusion in Sanur Kauh Village Community. International Journal of Social Service and Research, 2(6), 511-517. doi:https://doi.org/10.46799/ijssr.v2i6.121
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