Financial Decision under Uncertainty: Lessons from Indonesian Millennial

Abstract

Financial decision under uncertain event is relatively tough not only for individual but also government and business owner. It impacts the individual welfare and other critical aspects. This paper attempts to examine millennial financial behavior in order to promote better understanding in facing uncertain event and conduct better risk mitigation. This study analyzed millennial financial decision by involving 2270 respondents. The result reveals that social influence, personality traits, financial literacy, and perceived risk provide strong relationship on millennial financial decision which present important implication for both academics and decision makers.