The Role of Financial Literacy at University Students in Jakarta

Abstract

This study examines the role of digital financial literacy among university students in Jakarta, motivated by increasing fintech adoption, pervasive social media influence, and rising risks such as illegal lending and online fraud. A qualitative descriptive approach was employed, using in-depth semi-structured interviews with 10 purposively selected students in semesters 6 and 8 and documentary sources (campus materials, social media posts, and secondary data). Data were collected in Jakarta from January to March 2025 and analyzed thematically through open, axial, and selective coding, with triangulation and member checking to ensure validity. Findings show that digital financial literacy significantly enhances students’ ability to use fintech responsibly, evaluate online financial products, and maintain prudent budgeting and record-keeping practices. Literate students demonstrated greater resilience to predatory offers, reduced impulsive consumption driven by social media, and better preparedness for entrepreneurship and workforce entry. Peer education and institutional programs were identified as effective channels for disseminating digital finance competencies. The study concludes that integrating practical digital finance education into university curricula and strengthening collaborations with regulators and licensed fintech providers can improve financial outcomes and support national economic stability. Future research should explore longitudinal impacts, scalable intervention models, and quantitative assessments across larger, more diverse student populations to establish causal relationships and refine educational strategies.