Influence of Financial Literacy and Use of Financial Technology on Financial Satisfaction through Financial Behavior

Mamik Nur Farida, Yoyok Soesatyo, Tony Seno Aji


Financial behavior is a means by which a person treats, manages, and uses available financial resources. This research aims to determine the effect of financial literacy and the use of financial technology on financial satisfaction through financial behavior as an intervening factor. Data were collected from 112 economics teachers using purposive proportional random sampling technique. Structural Equation Modeling (SEM) with AMOS 26 software was used to analyze the data. The results of this research indicate that financial literacy has no effect on financial behavior, but the use of financial technology has an effect on financial behavior, financial literacy and the use of financial technology has an effect on satisfaction finance. It was also found that financial literacy and the use of financial technology were mediated by financial behavior. Finally, use of financial technology had no effect on financial satisfaction through financial behavior as an intervening variable. These results have useful practical and theoretical implications.


Financial Literacy, Use of Financial Technology, Financial Behavior, Financial Satisfaction

Full Text:



Agustina, Y. (2016). Pengaruh Literasi Keuangan, Pengalaman Bekerja, dan Pendapatan Terhadap Perilaku Keuangan Mahasiswa Fakultas Ekonomi Universitas Muhammadiyah Gresik [Unpublished Doctoral Thesis]. Universitas Negeri Surabaya, Indonesia.

Archuleta, K.L., Dale, A. and Spann, S.M. (2013). Financial Satisfaction, and Financial Anxiety, Journal of Financial Counseling and Planning, 24 (2), 50–62.

Arifin, A.Z. (2018). Influence of financial attitude, financial behavior, financial capability on financial satisfaction, Advances in Social Science, Education and Humanities Research (ASSEHR), 186(1), 100–103.

Bancou, L. (2018). Fintech, The Impact on Consumers. available at:

Bi, Q. (2015). Financial Technology And Personal Financial Planning [Doctoral Dissertation]. Texas Tech University.

Boon, T.H., Yee, H.S., and Ting, H.W. (2011). Financial Literacy and Personal Financial Planning in Klang Valley, Malaysia, Int. Journal of Economics and Management, 5(1), 149–168.

Boonsiritomachai, W. and Pitchayadejanant, K. (2017). Determinants affecting mobile banking adoption by generation Y based on the unified theory of acceptance and use of technology model modified by the technology acceptance model concept, Kasetsart Journal of Social Sciences, 1–10.

Chen, H. and Volpe, R.P. (1998). An Analysis of Personal Financial Literacy Among College Students, Financial Services Review, 7(2), 107–128.

Chuan, C.S. and Chau, W.H. (2014). Financial Satisfaction, Resource Transfers and Bequest Motives Among Malaysia’s Urban Older Adults, Proceedings Book of ICETSR, 106–129.

Coşkuner, S. (2016). Understanding Factors Affecting Financial Satisfaction: The Influence of Financial Behavior, Financial Knowledge and Demographics, Imperial Journal of Interdisciplinary Research, 2(5), 2454–1362.

Dew, J. and Xiao, J.J. (2011). The financial management behavior scale: Development and validation, Journal of Financial Counseling and Planning, 22(1), 43–59.

Falahati, L., Sabri, M.F. and Paim, L.H.J. (2012). Assessment a model of financial satisfaction predictors: Examining the mediate effect of financial behaviour and financial strain, World Applied Sciences Journal, 20(2), 190–197.

Fatimah, N. and Susanti. (2018). Pengaruh Pembelajaran Akuntansi Keuangan, Literasi Keuangan, Dan Pendapatan Terhadap Perilaku Keuangan Mahasiswa Fakultas Ekonomi Universitas Muhammadiyah Gresik, Jurnal Pendidikan Akuntansi (JPAK), 6(1), 48–57.

Ferdinand, A. (2014), Structural Equation Modeling Dalam Penelitian Manajemen, Seri Pustaka Kunci, Semarang.

Gerrans, P., Speelman, C. and Campitelli, G. (2013). The Relationship Between Personal Financial Wellness and Financial Wellbeing: A Structural Equation Modelling Approach, Journal of Family and Economic Issues, 35(2), 145–160.

Hasibuan, B.K., Lubis, Y.M. and HR, W.A. (2018). Financial Literacy and Financial Behavior as a Measure of Financial Satisfaction, Advances in Economics, Business and Management Research (AEBMR), 46(1), 503–507.

Henager, R. and Anong, S.T. (2014). Financial Education, Financial Literacy, and Financial Satisfaction, Journal of Consumer Interests Annual, 60. available at:

Herawati, N.T. (2015). Kontribusi pembelajaran di perguruan tinggi dan literasi keuangan terhadap perilaku keuangan mahasiswa, Jural Pendidikan Dan Pengajaran, 48(1), 60–70.

Hieminga, G., Lande, F. and Nijboer, F. (2016). FinTech For Micro, Small and Medium-Sized Enterprises, ING Economics Department, (October), 1–38.

Hilgert, M.A., Hogarth, J.M. and Beverly, S.G. (2003). Household Financial Management: The Connection between Knowledge and Behavior, Federal Reserve Bulletin, available at:

Kirbis, I.Š., Vehovec, M. and Galic, Z. (2016). Relationship Between Financial Satisfaction and Financial Literacy: Exploring, Drus Istraz Zagreb God, 26(2), 165–185.

Kuncoro, M. (2013). Metode Riset Untuk Bisnis & Ekonomi, Edisi Keempat. Erlangga.

Kurihara, Y. (2013). Does Financial Skill Promote Economic Growth?, International Journal of Humanities and Social Science, 3(8), 92–97.

Lee, S.C. and Im, K.H. (2015). Banking behavior in security and multi-channel environment, Journal of Computer Virology and Hacking Techniques, available at:

Long, G.T., Viet, M.H. and Diep, N.T.H. (2016). Gender Differences in Financial Sources and Perceived Financial Satisfaction Among Older People in Vietnam, Journal of Economics and Development, 18(2), 36–58.

Lusardi, A. and Mitchell, O.S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence, African Journal of Medicine and Medical Sciences, 52(1), 5–44.

Michalos, A.C. (2008). Education, happiness and wellbeing, Social Indicators Research, 87(3), 347–366.

Murphy, J.L. (2013). Psychosocial Factors and Financial literacy, Social Security Bulletin, 73(1), 73–81.

Nababan, D. and Sadalia, I. (2013). Analisis Personal Financial Liteacy Dan Financial Behavior Mahasiswa Strata I Fakultas Ekonomi Universitas Sumatera Utara (Personal Financial literacy Analysis And The Financial Behavior Of Undergraduate Students Of The University Of North Sumatra’s Econo, Media Informasi Manajemen, 1, 1–16.

Octavio, D.Q. (2016). Pengaruh Literasi Keuangan Terhadap Perilaku Keuangan, Universitas Gadjah Mada Yogyakarta.

Robb, C.A. and Woodyard, A.S. (2011). Financial knowledge and best practice behavior, Journal of Financial Counseling and Planning, 22(1), 60–70.

Sugiyono. (2017). Metode Penelitian Kuantitatif, Kualitatif, Dan R&D, 26th ed., Alfabeta, Bandung.

Suryani, S. and Ramadhan, S. (2017). Analisis Literasi Keuangan Pada Pelaku Usaha Mikro Di Kota Pekanbaru, Journal of Economic, Business and Accounting (COSTING), 1(1), 12–22.

Yap, R.J.C., Komalasari, F. and Hadiansah, I. (2019). The Effect of Financial Literacy and Financial Management Behavior on Retirement Confidence, International Journal of Administrative Science & Organization, 23(3), available at:

Yeo, J.H. and Fisher, P.J. (2017). Mobile Financial Technology and Consumers’ Financial Capability in the United States, Journal Of Education & Social Policy, 7(1), 80–93.



  • There are currently no refbacks.

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

2013-2023 (CC-BY) Australian International Academic Centre PTY.LTD.

International Journal of Education and Literacy Studies  

You may require to add the '' domain to your e-mail 'safe list’ If you do not receive e-mail in your 'inbox'. Otherwise, you may check your 'Spam mail' or 'junk mail' folders.