The Effect of Economic Incentives, Financial Technology, and Financial Literacy on Millennials' Financial Planning during Covid 19

Karina Harjanto ()
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Karina Harjanto: Universitas Multimedia Nusantara, Gading Serpong, 15810, Tangerang, Indonesia Author-2-Name: Maria Stefani Osesoga Author-2-Workplace-Name: Universitas Multimedia Nusantara, Gading Serpong, 15810, Tangerang, Indonesia Author-3-Name: Elisa Tjhoa Author-3-Workplace-Name: Universitas Multimedia Nusantara, Gading Serpong, 15810, Tangerang, Indonesia Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:

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Abstract: " Objective - This study aims to obtain empirical evidence of the effect of economic incentives, financial technology, and financial literacy on financial planning. Methodology – The data used in this study came from a questionnaire with 113 millennial respondents who live throughout Indonesia. Questionnaires were distributed in 2020 to understand millennial financial planning and the factors influencing it during the Covid-19 pandemic. Findings – This research found that economic incentives did not affect financial planning, while financial literacy and financial planning had a positive and significant effect on financial planning. Novelty – This study is among the first to learn the effect of the Covid-19 pandemic on millennials' finance. Type of Paper - Empirical"

Keywords: Economic Incentive; Financial Literacy; Financial Planning; Financial Technology; Millennials (search for similar items in EconPapers)
JEL-codes: D01 D14 (search for similar items in EconPapers)
Pages: 9
Date: 2022-09-30
New Economics Papers: this item is included in nep-ban, nep-cfn, nep-fle, nep-pay and nep-sea
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Published in Journal of Finance and Banking Review, Volume 7, Issue 2

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Persistent link: https://EconPapers.repec.org/RePEc:gtr:gatrjs:jfbr202

DOI: 10.35609/jfbr.2022.7.2(1)

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