Analysis of the Effect of Cangkal Values on Adolescents' Financial Behavior

The emergence of various financial products has simplified financial activities, but also resulted in increasing complexity of financial problems. Lack of adequate knowledge creates a gap between financial literacy and financial inclusion, which leads to increased fraud and even online loan traps. The purpose of this study is to analyze the influence of local Cangkal cultural values ​​on financial planning, risk awareness, spending attitudes, decision making, and social values ​​in financial management. This study uses quantitative analysis using (SEM-PLS) to obtain the effect of the integration of Cangkal cultural values ​​on financial literacy. This study was conducted in junior high schools in Banjarmasin City and Barito Kuala Regency with a sample of 491 students in grade VII. The results of the study indicate the influence of local culture in improving financial literacy. This influence is indicated by a t value above (t ≥ 1.96) namely the t value for financial planning is 135.227; financial risk awareness is 185.418; the shopping attitude score for the item is 117.734; the social value score is 139.316; and the financial decision-making score was 138.948. Cronbach's alpha results showed values ​​ranging from 0.802 to 0.960, indicating that all items were consistent. Validity results were seen from the loading factor of 0.777 to 0.976, indicating that all items were correlated with each other. This study suggests that local culture can influence adolescents' financial behavior.