Greed, Parental Influence and Adolescent Financial Behaviour Lazhora Wenatri, Sari Surya, Maruf
Andalas University
Abstract
This study aims to investigate the relationship between personal attitude which is reflected by level of greed, and the individual background based on parental influence on adolescent financial behaviour with financial knowledge and financial attitude as mediation variables. This study used quantitative approach and data was obtained by distributing questionnaires to 240 high school students in Padang City. Hypothesis were tested with Structural Equation Modelling using AMOS 22.0. The results shows that (1) greed has no significant effects on financial behaviour but has significant effects on adolescents financial attitude, (2) parental influence has significant effects financial behaviour, but no significant effect on financial knowledge and financial attitude, (3) financial knowledge has no significant effect on financial attitude, and (4) financial attitude has no significant effect on high school adolescent financial behaviour in Padang City. Based on the context of this study, financial behaviour of adolescent is mainly influence by parental influence. In addition, it can be concluded that parents have weak role in development of financial awareness and attitude. Adolescent in Padang city are strongly depended on parents in financial decision and greedy is not reflected in their behaviour. Implication of this research should be the concerned of stakeholders such as financial institutions, because financial personality traits and behaviour during adolescence will last until they were adults and will also affect a persons financial decisions in the rest of his life.
