Proceedings of the 1st International Conference on Social Science, Humanities, Education and Society Development, ICONS 2020, 30 November, Tegal, Indonesia

Research Article

Financial literacy: What is the fact of the digital startups “Startup Singo Edan Malang”?

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  • @INPROCEEDINGS{10.4108/eai.30-11-2020.2303719,
        author={Hanif Rani Iswari and Cicik Retno Wati},
        title={Financial literacy: What is the fact of the digital startups “Startup Singo Edan Malang”?},
        proceedings={Proceedings of the 1st International Conference on Social Science, Humanities, Education and Society Development, ICONS 2020, 30 November, Tegal, Indonesia},
        publisher={EAI},
        proceedings_a={ICONS},
        year={2021},
        month={1},
        keywords={financial knowledge financial experience startup financial literacy},
        doi={10.4108/eai.30-11-2020.2303719}
    }
    
  • Hanif Rani Iswari
    Cicik Retno Wati
    Year: 2021
    Financial literacy: What is the fact of the digital startups “Startup Singo Edan Malang”?
    ICONS
    EAI
    DOI: 10.4108/eai.30-11-2020.2303719
Hanif Rani Iswari1,*, Cicik Retno Wati2
  • 1: Universitas Widyagama, Malang
  • 2: Universitas Brawijaya, Malang
*Contact email: rani@widyagama.ac.id

Abstract

The purpose of this research is to analyze financial literacy in the digital start-up business of “Startup Singo Edan Malang” community. The research approach used quantitative and qualitative with descriptive analysis methods. The sample of this study was 117 respondents who were obtained through questionnaires and open interviews. The results were obtained information if knowledge of credit interest rates is preferred in making credit decisions. This is evident from the experience of short-term credit in banking financial institutions. The fact that investment knowledge is obtained is if there is more understanding of banking products than capital market investment products. However, the investment experience is not in line with this investment knowledge, because of community integration. For financial management regarding credit guarantees, the level of knowledge is high, but not with short-term and long-term financial management. Experience in short-term financial management, especially credit cards, is based on a precautionary motive.