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A Study on the Influence of Islamic Financial Literacy in Managing Cash and Debt Among Millennial in Indonesia

A Study on the Influence of Islamic Financial Literacy in Managing Cash and Debt Among Millennial in Indonesia

Ledy Mahara Ginting, Nur Harena Redzuan
Copyright: © 2021 |Pages: 18
ISBN13: 9781799868118|ISBN10: 1799868117|ISBN13 Softcover: 9781799868125|EISBN13: 9781799868132
DOI: 10.4018/978-1-7998-6811-8.ch016
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MLA

Ginting, Ledy Mahara, and Nur Harena Redzuan. "A Study on the Influence of Islamic Financial Literacy in Managing Cash and Debt Among Millennial in Indonesia." Handbook of Research on Islamic Social Finance and Economic Recovery After a Global Health Crisis, edited by Salina Kassim, et al., IGI Global, 2021, pp. 246-263. https://doi.org/10.4018/978-1-7998-6811-8.ch016

APA

Ginting, L. M. & Redzuan, N. H. (2021). A Study on the Influence of Islamic Financial Literacy in Managing Cash and Debt Among Millennial in Indonesia. In S. Kassim, A. Othman, & R. Haron (Eds.), Handbook of Research on Islamic Social Finance and Economic Recovery After a Global Health Crisis (pp. 246-263). IGI Global. https://doi.org/10.4018/978-1-7998-6811-8.ch016

Chicago

Ginting, Ledy Mahara, and Nur Harena Redzuan. "A Study on the Influence of Islamic Financial Literacy in Managing Cash and Debt Among Millennial in Indonesia." In Handbook of Research on Islamic Social Finance and Economic Recovery After a Global Health Crisis, edited by Salina Kassim, Anwar Hasan Abdullah Othman, and Razali Haron, 246-263. Hershey, PA: IGI Global, 2021. https://doi.org/10.4018/978-1-7998-6811-8.ch016

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Abstract

Indonesia is currently experiencing a demographic dividend, where the total population of productive age is higher than the total of un-productive age. The most numerous groups in this productive age group are the millennials aged 20 to 40 years, which required them to have sufficient knowledge of Islamic financial literacy. Therefore, this study aims to measure the level of Islamic financial literacy of millennials in Aceh, Indonesia and to investigate its effects on managing cash and debt. The influence of demographic factors is also examined in this study namely gender, age, educational background, and income level. By using multiple linear regression analysis, the result shows that the level of Islamic financial literacy, educational background, and income level significantly affects cash and debt management. The results of this study can be references for the Islamic financial industry in Aceh and for its government. The millennial seems to be ready for the new provisions that will be implemented in relation to the Islamic financial industry in Aceh.

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