The Influence of Financial Attitude and Social Influence on Saving Behavior with Financial Literacy as an Intervening Variable

Abstract

Understanding and implementing wise saving behavior plays an important role for Micro and Small Enterprises (MSEs) in building a strong financial foundation, managing risks better, and increasing opportunities for growth and success in business. The objective of this study is to examine the impact of financial attitudes and social influences on saving habits, with the intermediary role of financial literacy being a focal point of analysis. The sample used was 100 respondents. This research uses primary data sources. The type of research is quantitative. Samples were collected through surveys by distributing questionnaires directly to respondents. The collected data was analyzed using Structure Equation Modeling (SEM) with the Smart PLS analysis tool. The findings from this study indicate that financial attitude positively and significantly influences saving behavior, while social influence also has a positive and significant impact on saving behavior. Additionally, financial literacy exhibits a positive and significant effect on saving behavior. Furthermore, financial attitude positively and significantly influences financial literacy, and social influence similarly has a positive and significant impact on financial literacy. It is observed that financial literacy serves as a mediator for the variables of financial attitude and social influence in influencing saving behavior.