The Effects of Parents' Financial Knowledge and Socioeconomic Status on Students' Financial Management

Abstract

The purpose of this study was to determine the effect of parental socioeconomic status and financial knowledge on the financial management of Economics Education students. This research was conducted at the Teaching and Education Faculty of Jambi University's Economic Education Study Program. The research data was obtained by distributing questionnaires to Economics Education students Batch 2020-2021 via Googleform. Then, the data were analyzed using the help of the Microsoft Excel STAT97 and SPSS Statistics 22 application programs. The results showed that parents' socioeconomic status and financial knowledge affected the financial management of Economics Education students Batch 2020-2021 Jambi University. This can be proven from the results of the analysis calculation using the F test which obtained the value of Fcount > Ftable, namely 107.426 > 3.07 with a significance value of 0.00 <0.05, which means Ha is accepted and H0 is rejected. So, it can be concluded that the independent variables, namely the socio-economic status of parents and financial knowledge, jointly affect the financial management of Economics Education students Batch 2020-2021.

Keywords: Financial Management, Socioeconomic, financial knowledge