The Influence of Mental Accounting and Financial Literacy on Financial Decision Making with Self-Control as a Mediation Variable

Abstract

This study aims to analyze the influence of Mental Accounting and Financial Literacy on Financial Decision Making with Self-control as a mediating variable in employees who interact with BRT Trans Semarang finance. This study uses a quantitative approach with a sample of 100 respondents selected using a purposive sampling technique. Data collection was carried out through questionnaires and analyzed using multiple linear regression, path analysis, and the Sobel test with the help of the SPSS program. The results showed that Mental Accounting has a positive and significant effect on Financial Decision Making, Financial Literacy has a positive and significant effect on Financial Decision Making, and Self-control has a positive and significant effect on Financial Decision Making. In addition, Mental Accounting has a positive and significant effect on Self-control, while Financial Literacy has no significant effect on Self-control. The Sobel test results show that Self-control is able to mediate the effect of Mental Accounting on Financial Decision Making, but is unable to mediate the effect of Financial Literacy on Financial Decision Making. The results of this study indicate that improving the quality of financial decision making of employees who interact with BRT Trans Semarang finances is not only influenced by the level of financial literacy, but also by the ability to manage finances through Mental Accounting and Self-control abilities in controlling financial behavior. The results of this study contribute to the management of BRT Trans Semarang as a basis for developing a driver financial management program not only to improve financial literacy, but also to build mental accounting habits and strengthen self-control so that drivers are able to make wiser financial decisions. For the Semarang City Government, the results of this study can be input in developing financial education and mentoring programs that integrate aspects of financial knowledge and behavior to improve welfare and support the quality of public transportation services.