Journal of Economic, Finance Research and Review (JEFRR)

The Influence of Financial Literacy and Financial Attitudes Through Locus of Control on Financial Management Behavior Among Students

Akbar, Khofifa Parwangsa, Yuliani Yuliani, Malinda, Shelfi

24 February 2026 · Vol. 2, Issue 2, pp. 119-129

DOI: 10.65150/EP-jefrr/V2E2/2026-07

Abstract

This study analyzes the influence of financial literacy and financial attitude on financial management behavior, both directly and indirectly, with locus of control serving as an intervening variable among Generation Z students at the Faculty of Economics, Sriwijaya University. A quantitative research design was employed, utilizing primary data obtained through questionnaires administered to students. Statistical analyses were employed to examine both the direct and mediated relationships among the variables. The findings reveal that financial literacy, financial attitude, and locus of control each exert a positive and significant impact on financial management behavior. Furthermore, both financial literacy and financial attitude significantly affect locus of control. The results further demonstrate that locus of control mediates the relationships between the independent variables and financial management behavior. Overall, the study emphasizes the importance of enhancing financial knowledge, cultivating positive financial attitudes, and strengthening an internal locus of control to improve students’ financial management practices. These findings provide valuable insights for designing financial education initiatives that encourage responsible and sustainable financial decision-making among Generation Z.

Keywords: Financial Literacy, Financial Attitude, Locus of Control, Financial Management Behavior

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Akbar, Khofifa Parwangsa, Yuliani Yuliani, Malinda, & Shelfi (2026). The Influence of Financial Literacy and Financial Attitudes Through Locus of Control on Financial Management Behavior Among Students. Journal of Economic, Finance Research and Review, 2(2), 119-129. https://doi.org/10.65150/EP-jefrr/V2E2/2026-07

@article{Akbar2026,
  title   = {The Influence of Financial Literacy and Financial Attitudes Through Locus of Control on Financial Management Behavior Among Students},
  author  = {Akbar and Khofifa Parwangsa and Yuliani Yuliani and Malinda and Shelfi},
  journal = {Journal of Economic, Finance Research and Review},
  year    = {2026},
  volume  = {2},
  number  = {2},
  pages   = {119-129},
  doi     = {10.65150/EP-jefrr/V2E2/2026-07},
  url     = {https://doi.org/10.65150/EP-jefrr/V2E2/2026-07}
}

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