Intention to Save For Hajj Travel Expenses: Perspectives of Urban Muslim Youth

Abstract

Jakarta, as the Indonesian Economic Center, has a large and dynamic Muslim youth population, but financial awareness and planning for the pilgrimage among them is still low. This study examines the relationship between subjective norms, perceived behavior control, and attitudes towards the planning of the cost of pilgrimage using PLS-SEM in 108 Muslim youth in Jakarta. The results suggest that subjective norms and perceived behavioral control greatly influenced their positive attitude towards planning for Hajj travel expenses. Attitude and perceived behavioral control significantly impacted the desire to plan for Hajj travel costs.  However, subjective norms had no substantial impact on this desire. The study produced additional findings, including a mediation analysis that demonstrated how attitudes towards financial planning could operate as a mediator in the interaction of subjective norms, perceived behavioral control, and the plan to save for Hajj travel costs. In the moderation analysis, perceived behavioral control only moderated the influence of attitudes on the choice to create a plan for the Hajj trip’s costs.  Consequently, Islamic banks should consider these findings when marketing saving products to young urban Muslims.