THE EFFECT OF FINANCIAL LITERACY, FINANCIAL PRESSURE AND LOCUS OF CONTROL ON THE FINANCIAL BEHAVIOR OF PT. SUMATERA JAYA LIPPO EMPLOYEES
Keywords:
Financial Literacy, Financial Pressure, Locus of Control, Financial BehaviorAbstract
This study aims to analyze the effect of Financial Literacy, Financial Pressure, and Locus of Control on Financial Behavior among employees of PT. Sumatera Jaya Lippo, both partially and simultaneously. Sound financial behavior is essential for employees to rationally manage income, expenditure, and financial risk, given that many individuals still face an imbalance between income and expenses in their daily lives. This study employed a quantitative approach using primary data obtained through the distribution of questionnaires. The population consisted of all 76 employees of PT. Sumatera Jaya Lippo, with a saturated sampling technique applied so that the entire population served as the sample. Data were analyzed using multiple linear regression, including the partial test (t-test), simultaneous test (F-test), and the coefficient of determination test (R²). The results show that Financial Literacy has a positive and significant effect on Financial Behavior (t-count 9.560 > t-table 1.993; sig. 0.000), contributing 54%. Financial Pressure also has a positive and significant effect (t-count 2.227; sig. 0.029), contributing 3%. Locus of Control has a positive and significant effect (t-count 2.773; sig. 0.007), contributing 9%. Simultaneously, the three variables have a positive and significant effect on Financial Behavior (F-count 46.191 > F-table 2.73; sig. 0.000), with a coefficient of determination (R²) of 0.658, meaning that 65.8% of the variation in Financial Behavior can be explained by these three variables. It can be concluded that Financial Literacy is the most dominant variable influencing employees' Financial Behavior. The company is advised to continue improving employees' financial literacy through education and financial management training
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