Determinants of Religious Attitude and Financial Literacy on the Formation of University Students’ Financial Behavior

Abstract

In the era of globalization and digital transformation, students as the nation's next generation face complex challenges in managing their personal finances. The ease of digital transactions through e-wallets and e-commerce platforms actually has the potential to increase consumer behavior if not balanced with adequate financial literacy. This study examines the influence of religious attitudes and financial literacy on the financial behavior of students at Maulana Malik Ibrahim State Islamic University of Malang. Using a quantitative approach with multiple linear regression analysis on 161 respondents, partial test results showed a highly significant influence between financial literacy and financial behavior (t = 13.985, p = 0.000 < 0.05). The partial test results of religious attitudes showed no significant effect on financial behavior (t = 1.541, p = 0.125 > 0.05). Unique findings revealed that, although students have a strong understanding of Islamic financial principles (ideological dimension score of 4.463), their practical implementation falls into the moderate category (financial recording score of 3.683). This disparity indicates that the internalization of financial literacy is still partial and has not yet reached the stage of comprehensive application, as emphasized in the Financial Services Authority (OJK) financial competency standards. This study contributes to the development of an integrative Islamic financial education model by emphasizing the importance of linking religious values with practical financial management skills. The F-test results indicate that the overall model is significant (F = 266.373, p = 0.000). Meanwhile, the coefficient of determination (Adjusted R Square) is 0.768, indicating that the combination of religious attitudes and financial literacy can explain 76.8% of the variation in students' financial behavior.