Analysis of Financial Literacy, Lifestyle and Parents' Income in Santri Financial Management Behavior

Abstract

The purpose of this study is to investigate how students' financial management practises are influenced by their lifestyle, parental income, and financial literacy. Everybody can benefit from practising sound financial management habits. Extremely low financial literacy has an impact on lifestyle, influencing how much a person wants to spend according to their income. This study use interviews as a method of data collecting for its qualitative research design. Thirty kids from Al Lathifiyyah Islamic Boarding School 2 Bahrul Ulum Tambakberas Jombang served as the sample. The act of methodically looking through and gathering information from field notes, interviews, and other sources is the analytical approach that is employed in order to make the data easily comprehensible and provide others with useful information. The research results show that financial literacy, lifestyle and parental income indicate that the majority of students have practiced good financial management behavior, such as managing finances so that they have enough for one month, paying bills on time, and comparing prices when buying products. This can be taken into consideration for developing a financial literacy program at the Al Lathifiyyah 2 Bahrul Ulum Tambakberas Islamic Boarding School, Jombang.