The effect of using e-money and self-control on student financial management

https://doi.org/10.35912/jdbm.v1i2.3327
Published: Aug 14, 2025

Abstract:

Purpose: This study examines the effect of e-money usage and self-control on the financial management of undergraduate students in the Faculty of Economics and Business at Universitas PGRI Palembang..

Research Methodology: A quantitative approach was employed with a sample of 107 active students selected from a population of 305. Data were collected through questionnaires and analyzed using descriptive statistics, validity and reliability tests, classical assumption tests, and multiple linear regression analysis with SPSS 25.

Results: The findings reveal that e-money usage (t = 2.499, p = 0.014) and self-control (t = 7.610, p = 0.000) each have a significant positive effect on financial management. Simultaneously, both variables explain 57.9% of the variance in students’ financial management (F = 71.370, p < 0.05).

Conclusion: Both e-money usage and self-control significantly contribute to students’ ability to manage finances effectively. Self-control plays a stronger role compared to e-money usage in determining financial management behavior.

Limitations: The study focuses only on two variables e-money usage and self-control excluding other potential factors such as financial literacy, lifestyle, and socio-economic background. This scope limitation may affect the generalizability of findings.

Contribution: This research enriches empirical evidence on the behavioral aspects of financial management among students in the digital payment era and provides practical insights for universities to design programs enhancing students’ self-control and responsible e-money usage.

Keywords:
1. E-Money
2. Financial Management
3. Self-control
Authors:
1 . Sarlina Devi
PGRI University Palembang, Indonesia
2 . Yasir Arafat
PGRI University Palembang, Indonesia
3 . Maliah Maliah
PGRI University Palembang, Indonesia
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Vol. 1 No. 2 (2025): August
Articles
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References

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    Devya. (2014). Hubungan Citra Diri dan Perilaku Konsumtif pada Remaja Putri yang Memakai Kosmetik Wajah. Psikoborneo: Jurnal Ilmiah Psikologi, 2(3), 185-189. doi:http://dx.doi.org/10.30872/psikoborneo.v2i3.3661

    Dewi, L. G. K., Herawati, N. T., & Adiputra, I. M. P. (2021). Penggunaan E-Money Terhadap Perilaku Konsumtif Mahasiswa yang Dimediasi Kontrol Diri. EKUITAS (Jurnal Ekonomi Dan Keuangan), 5(1), 1-19. doi:https://doi.org/10.24034/j25485024.y2021.v5.i1.4669

    Fariana, R. E., Surindra, B., & Arifin, Z. (2021). The Influence of Financial Literacy, Lifestyle and Self-Control on the Consumption Behavior of Economic Education Student. International Journal of Research and Review, 8(8), 496-503. doi:https://doi.org/10.52403/ijrr.20210867

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    Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25 Edisi 9. Semarang: Badan Penerbit Universitas Diponegoro.

    Handoyo, M., Roemkenya, B., & Bayunitri, B. I. (2021). The Influence of Internal Audit and Internal Control Toward Fraud Prevention. International Journal of Financial, Accounting, and Management, 3(1), 45-64. doi:https://doi.org/10.35912/ijfam.v3i1.181

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    Nainggolan, H. (2022). Pengaruh Literasi Keuangan, Kontrol Diri, dan Penggunaan E-Money Terhadap Perilaku Konsumtif Pekerja Produksi PT Pertamina Balikpapan. Jesya (Jurnal Ekonomi Dan Ekonomi Syariah), 5(1), 810-826. doi:https://doi.org/10.36778/jesya.v5i1.574

    Panchali, J., & Seneviratne, S. (2019). Organizational Cynicism and Employee Performance: Evidence from a Sri Lankan Audit Sector. Annals of Management and Organization Research, 1(2), 155-169. doi:https://doi.org/10.35912/amor.v1i2.409

    Pulungan, N. S., Soemitra, A., & Lubis, R. (2023). Peer to Peer Lending, E-Money, and Crowdfunding Economic Perspective Sharia. Manajemen Kreatif Jurnal, 1(1), 10-30. doi:https://doi.org/10.55606/makreju.v1i1.924

    Ranasinghe, R., Kumudulali, U., & Ranaweera, A. (2019). The Role of Park Attributes in Visitor Satisfaction: Evidence from Minneriya National Park in Sri Lanka. Journal of Sustainable Tourism and Entrepreneurship (JoSTE), 1(1), 87-104. doi:https://doi.org/10.35912/joste.v1i2.218

    Sakti, H. G. (2021). Pengaruh Bermain Peran pada Pengendalian Diri Siswa. Journal of Mandalika Literature, 2(3), 35-47. doi:https://doi.org/10.36312/jml.v2i3.875

    Sikder, S., Rana, M. M., & Polas, M. R. H. (2021). Service Quality Dimensions (SERVQUAL) and Customer Satisfaction Towards Motor Ride-Sharing Services: Evidence from Bangladesh. Annals of Management and Organization Research, 3(2), 97-113. doi:https://doi.org/10.35912/amor.v3i2.1184

    Sugiyono. (2017). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung: Alfabeta.

    Syidana, Z. A. y., & Kartini. (2024). The Influence of Hedonism Lifestyle, Consumptive Behavior and Financial Literacy on Personal Financial Management of FEB UII Students. International Journal of Economics, Business and Innovation Research, 3(5), 1506-1526. doi:https://doi.org/10.63922/ijebir.v3i05.1222

    Wijaya, N. P., & Yuniningsih. (2025). The Effect of Financial Literacy, Lifestyle and Self-Control on Online Shopping Consumptive Behavior. THE SPIRIT OF SOCIETY JOURNAL: International Journal of Society Development and Engagement, 8(2), 158-169. doi:https://doi.org/10.29138/scj.v8i2.3189

    Yahaya, A. M., Montiliat, A., & Salahudeen, H. (2020). The Impact of Covid-19 Lockdown on Socio-Economic Activities in Kaduna State, Nigeria. Journal of Sustainable Tourism and Entrepreneurship, 2(1), 41-51. doi:https://doi.org/10.35912/joste.v2i1.547

  1. Aeni, I. N., Widiatami, A. K., Widhiastuti, R., Susilowati, N., & Perdana, S. (2023). Determinants of Personal Financial Management Behavior: Moderating Role of Financial Literacy. KnE Social Sciences, 208–222. doi:https://doi.org/10.18502/kss.v9i4.15070
  2. Alzura, D., & Khalifaturofi'ah, S. O. (2024). How Students' Use of E-Commerce, E-Money, Financial Literacy, Self-Control, and Lifestyle Affect Their Consumptive Behavior. Jurnal Ilmu Keuangan Dan Perbankan (JIKA), 13(2), 221-234. doi:https://doi.org/10.34010/jika.v13i2.12127
  3. Devya. (2014). Hubungan Citra Diri dan Perilaku Konsumtif pada Remaja Putri yang Memakai Kosmetik Wajah. Psikoborneo: Jurnal Ilmiah Psikologi, 2(3), 185-189. doi:http://dx.doi.org/10.30872/psikoborneo.v2i3.3661
  4. Dewi, L. G. K., Herawati, N. T., & Adiputra, I. M. P. (2021). Penggunaan E-Money Terhadap Perilaku Konsumtif Mahasiswa yang Dimediasi Kontrol Diri. EKUITAS (Jurnal Ekonomi Dan Keuangan), 5(1), 1-19. doi:https://doi.org/10.24034/j25485024.y2021.v5.i1.4669
  5. Fariana, R. E., Surindra, B., & Arifin, Z. (2021). The Influence of Financial Literacy, Lifestyle and Self-Control on the Consumption Behavior of Economic Education Student. International Journal of Research and Review, 8(8), 496-503. doi:https://doi.org/10.52403/ijrr.20210867
  6. Fernandes, A. A. R. (2016). Pemodelan Statistika pada Analisis Reliabilitas dan Survival. Malang: Universitas Brawijaya Press.
  7. Fransisca, V., & Ningsih, W. (2023). The Advancement of Technology and its Impact on Social Life in Indonesia. Devotion: Journal of Research & Community Service, 4(3), 860-864. doi:https://doi.org/10.36418/devotion.v4i3.445
  8. Gevisa, R. P., & Kurniati. (2024). A Comprehensive Guide to Understanding and Applying Descriptive Statistics in Data Analysis. JURMA: Jurnal Program Mahasiswa Kreatif, 8(1), 186-191. doi:https://doi.org/10.32832/jurma.v8i1.2258
  9. Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25 Edisi 9. Semarang: Badan Penerbit Universitas Diponegoro.
  10. Handoyo, M., Roemkenya, B., & Bayunitri, B. I. (2021). The Influence of Internal Audit and Internal Control Toward Fraud Prevention. International Journal of Financial, Accounting, and Management, 3(1), 45-64. doi:https://doi.org/10.35912/ijfam.v3i1.181
  11. Kasmir. (2016). Pengantar Manajemen Keuangan: Edisi Kedua. Jakarta: Prenada Media Group.
  12. Khan, M. R. (2020). Ethical Business Practice and Short Term Earning Intensity during the Covid-19 Crisis in Bangladesh. International Journal of Financial, Accounting, and Management, 2(2), 79-93. doi:https://doi.org/10.35912/ijfam.v2i2.167
  13. Komarudin, M. N. K., Nugraha, N., Hardjadi, D., & Pasha, R. A. (2020). Pengaruh Literasi Keuangan dan Pengendalian Diri Terhadap Perilaku Pengelolaan Keuangan (Survei pada Tenaga Pendidik SD Se-Kecamatan Kuningan). Jurnal Keuangan Dan Bisnis, 18(1), 159-178.
  14. Kumalasari, D., & Soesilo, Y. H. (2019). Pengaruh Literasi Keuangan, Modernitas Individu, Uang Saku Dan Kontrol Diri Terhadap Perilaku Konsumtif Mahasiswa Prodi S1 Pendidikan Ekonomi Angkatan Tahun 2016 Fakultas Ekonomi Universitas Negeri Malang. Jurnal Pendidikan Ekonomi, 12(1), 61-71.
  15. Miskanik. (2022). Kontrol Diri Sebagai Mediator Konsep Diri, Resiliensi, Dukungan Sosial Terhadap Hasil Belajar Siswa. Jurnal Review Pendidikan dan Pengajaran, 5(1), 120-128. doi:https://doi.org/10.31004/jrpp.v5i1.5706
  16. Nainggolan, H. (2022). Pengaruh Literasi Keuangan, Kontrol Diri, dan Penggunaan E-Money Terhadap Perilaku Konsumtif Pekerja Produksi PT Pertamina Balikpapan. Jesya (Jurnal Ekonomi Dan Ekonomi Syariah), 5(1), 810-826. doi:https://doi.org/10.36778/jesya.v5i1.574
  17. Panchali, J., & Seneviratne, S. (2019). Organizational Cynicism and Employee Performance: Evidence from a Sri Lankan Audit Sector. Annals of Management and Organization Research, 1(2), 155-169. doi:https://doi.org/10.35912/amor.v1i2.409
  18. Pulungan, N. S., Soemitra, A., & Lubis, R. (2023). Peer to Peer Lending, E-Money, and Crowdfunding Economic Perspective Sharia. Manajemen Kreatif Jurnal, 1(1), 10-30. doi:https://doi.org/10.55606/makreju.v1i1.924
  19. Ranasinghe, R., Kumudulali, U., & Ranaweera, A. (2019). The Role of Park Attributes in Visitor Satisfaction: Evidence from Minneriya National Park in Sri Lanka. Journal of Sustainable Tourism and Entrepreneurship (JoSTE), 1(1), 87-104. doi:https://doi.org/10.35912/joste.v1i2.218
  20. Sakti, H. G. (2021). Pengaruh Bermain Peran pada Pengendalian Diri Siswa. Journal of Mandalika Literature, 2(3), 35-47. doi:https://doi.org/10.36312/jml.v2i3.875
  21. Sikder, S., Rana, M. M., & Polas, M. R. H. (2021). Service Quality Dimensions (SERVQUAL) and Customer Satisfaction Towards Motor Ride-Sharing Services: Evidence from Bangladesh. Annals of Management and Organization Research, 3(2), 97-113. doi:https://doi.org/10.35912/amor.v3i2.1184
  22. Sugiyono. (2017). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung: Alfabeta.
  23. Syidana, Z. A. y., & Kartini. (2024). The Influence of Hedonism Lifestyle, Consumptive Behavior and Financial Literacy on Personal Financial Management of FEB UII Students. International Journal of Economics, Business and Innovation Research, 3(5), 1506-1526. doi:https://doi.org/10.63922/ijebir.v3i05.1222
  24. Wijaya, N. P., & Yuniningsih. (2025). The Effect of Financial Literacy, Lifestyle and Self-Control on Online Shopping Consumptive Behavior. THE SPIRIT OF SOCIETY JOURNAL: International Journal of Society Development and Engagement, 8(2), 158-169. doi:https://doi.org/10.29138/scj.v8i2.3189
  25. Yahaya, A. M., Montiliat, A., & Salahudeen, H. (2020). The Impact of Covid-19 Lockdown on Socio-Economic Activities in Kaduna State, Nigeria. Journal of Sustainable Tourism and Entrepreneurship, 2(1), 41-51. doi:https://doi.org/10.35912/joste.v2i1.547