Business

The impact of religiosity and financial literacy on financial management behavior and well-being among Indonesian Muslims

H. R. Wijaya, S. R. H. Hati, et al.

Discover how religiosity and Islamic financial literacy shape the financial behavior and well-being of Indonesian Muslims. This insightful research conducted by Haykal Rafif Wijaya, Sri Rahayu Hijrah Hati, Irwan Adi Ekaputra, and Salina Kassim reveals the powerful influence of these factors based on a study of over 1,141 participants.

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Abstract

This study examines the effects of religiosity and Islamic financial literacy on Muslims' financial behavior and well-being. It investigates the impact of socio-demographic variables on religiosity, financial literacy, financial management behavior, and well-being of Muslim consumers. Data from 1141 Indonesian Muslims (aged 18–65) shows that both religiosity and Islamic financial literacy significantly affect financial management behavior and well-being, with Islamic financial literacy having a more substantial effect.

Publisher

Humanities & Social Sciences Communications

Published On

Jun 25, 2024

Authors

Haykal Rafif Wijaya, Sri Rahayu Hijrah Hati, Irwan Adi Ekaputra, Salina Kassim

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