Financial literacy in the covid-19 pandemic: Pressure conditions in indonesia

Abstract

The COVID-19 (novel coronavirus disease 2019) has become a worldwide disaster. This pandemic not only affected the world economy but also the family economy. Good financial literacy will help individuals avoid financial problems, especially during the COVID-19 pandemic. Financial literacy can facilitate individuals to manage their income well even in demanding situations. This study aims to analyse how financial literacy helps in the depression condition of the COVID-19 pandemic. This study takes a sample of 396 household heads. This study uses partial least square (PLS) analysis to analyse the data. Results show that all financial attitudes, behaviour and literacy variables positively affect financial literacy and wellbeing. The implication of this research is that financial literacy, which is reflected by financial attitudes and behaviour plays a key role in public financial welfare.