¹Tri Ratnawati, ²Mulyanto Nugroho, ³Jaime Soare, ⁴Cristino Gusmao, ⁵Diah Riyani, ⁶Febry Rosady Kuay Rumaratu, ⁷Duarte Borges Loe, ⁸Fransisco Nicolau Baptista Barbosa

^1,2,5,6Universitas 17 Agustus 1945 Surabaya

^3,4,7,8Universidade Da Paz

DOI : https://doi.org/10.58806/ijsshmr.2023.v2i12n05

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ABSTRACT

The phenomenon of household financial behavior in Timor Leste and Indonesia is strongly influenced by socioeconomic factors. However, low levels of education and income contribute to low financial literacy and suboptimal financial management behavior among housewives. In both contexts, factors such as gender, income level, education and parental influence play a key role. With a better understanding of the influence of these socio-economic factors, effective policies and interventions can be formulated to improve the financial literacy and financial management behavior of people in both countries. Income and employment levels have a significant influence on the financial behavior of tanto families in Timor Leste and Indonesia. Cultural norms have a significant influence on household financial behavior in both Indonesia and Timor Leste. Therefore, awareness of cultural norms is key in shaping attitudes, knowledge and behaviors that contribute to the financial management and well-being of individuals and families in both countries. Access to financial resources has a significant impact on household financial behavior in both Indonesia and Timor Leste. Improving financial literacy in Indonesia is key to increasing people's access to financial resources.

KEYWORDS:

financial behavior, financial management behavior, financial literacy, Lifestyle

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