FACTORS THAT AFFECT FINANCIAL WELL-BEING IN MASTER PROGRAM STUDENTS

Abstract

This study aims to analyze the factors that affect financial well-being. The variables used are financial knowledge, financial behavior, financial ability, financial well-being and happiness. The sample uses data from five universities in West Jakarta. The analysis used uses the Structural Equation Model (SEM) which is tested using AMOS software. The results of the study show that: Financial knowledge has a significant negative effect on financial behavior and financial ability. In addition, financial knowledge has a significantly positive effect on financial well-being. Financial ability has a significantly positive effect on financial well-being. And in the final result, financial well-being has a significantly positive effect on happiness Increasing in financial well-being needs to be balanced with good financial knowledge as a basis for decision making. Improvements can be made by reading books about finance, attending financial training, workshops, and learning from previous experiences. Because a high level of knowledge can increase a person's confidence in making decisions to carry out financial behavior such as saving, investing and others.