The influence of financial literacy and financial attitudes on consumptive behavior mediated by financial behavior in residents of Sidoarjo City, Indonesia

The objective of this study is to investigate the impact of financial literacy and financial attitudes on consumptive behavior, with financial behavior acting as a mediating factor among residents of Sidoarjo, Indonesia. The research was conducted using a quantitative approach, and data collection was done through a questionnaire administered via Google Form. The study included a sample of 96 respondents, determined using the Lemeshow formula due to the unknown population size. The data was analyzed using the SmartPLS-3 software, applying the structural equation modeling (SEM) technique. The findings of this study reveal several significant outcomes. Firstly, financial literacy is found to have a direct significant influence on both consumptive behavior and financial behavior. Secondly, financial attitudes also have a direct significant impact on consumptive behavior and financial behavior. However, it is observed that financial behavior does not have a significant effect on consumptive behavior. Furthermore, the study concludes that financial behavior does not act as a mediating factor in the relationship between financial literacy and financial attitudes on consumer behavior. Overall, this research contributes to the existing knowledge by providing insights into the interplay between the discussed variables.