THE DIFFERENCE IN FINANCIAL LITERACY OF WOMEN WORKERS IN THE FORMAL SECTOR AND THE INFORMAL SECTOR IN THE COMMUNITY IN TOTE VILLAGE
Abstract
This study aims to determine the difference in the level of financial literacy between women workers in the formal and informal sectors in the community in Tote Village, West Bolangitang District, North Bolaang Mongondow Regency. Financial literacy is an individual's ability to manage finances which includes aspects of knowledge, attitudes, and skills in making financial decisions. This study uses a quantitative method with a comparative approach. The population in this study is all women who work in the formal and informal sectors in Tote Village, with sampling using purposive sampling techniques. The research instrument is in the form of a questionnaire that is compiled based on financial literacy indicators, then analyzed using a different test (Independent Sample T-Test). The results of the study show that there is a significant difference in the level of financial literacy between women workers in the formal sector and the informal sector. Women in the formal sector tend to have a higher level of financial literacy compared to women working in the informal sector. These findings indicate the importance of more inclusive financial education and training programs, especially for women in the informal sector, to improve financial management skills and support the welfare of families and communities in a sustainable manner.
Monthly Statistics (Last 12 Months)
References
-
Bonang, R. (2019). The effect of income stability on financial management behavior among formal sector workers in Indonesia. Journal of Financial Studies, 7(2), 45–58.
-
Bucher-Koenen, T., Lusardi, A., Alessie, R., & Van Rooij, M. (2017). How financially literate are women? An overview and new insights. Journal of Consumer Affairs, 51(2), 255–283. https://doi.org/10.1111/joca.12121
-
Chaidir, M., Suprapti, N., Arini, D., & Ismiwati, S. (2020). Financial literacy and household welfare in Indonesia. Jurnal Ekonomi dan Bisnis, 23(1), 77–89.
-
Dalilah, R. (2021). Women empowerment and financial inclusion in informal economic activities. Jurnal Pemberdayaan Perempuan, 5(1), 31–42.
-
Damayanti, S. (2021). Barriers to financial literacy among women in informal employment sectors. Jurnal Sosio Ekonomi, 10(2), 115–126.
-
Development Economics Journal. (2020). Financial behavior and inclusion: A review of global trends. Development Economics Journal, 8(1), 1–13.
-
Febrianto, A. (2020). Financial access and literacy among women micro-entrepreneurs in rural areas. Jurnal Ekonomi Pembangunan Indonesia, 21(3), 214–225.
-
Hestanto, Y. (2016). Perekonomian Indonesia: Sektor formal dan informal. Jakarta: Rajawali Pers.
-
International Labour Organization. (2016). Women at work: Trends 2016. Geneva: ILO.
-
Lusardi, A., & Mitchell, O. S. (2007). Financial literacy and retirement preparedness: Evidence and implications for financial education. Business Economics, 42(1), 35–44. https://doi.org/10.2145/20070104
-
Lusardi, A., & Mitchell, O. S. (2014). The economic importance of financial literacy: Theory and evidence. Journal of Economic Literature, 52(1), 5–44. https://doi.org/10.1257/jel.52.1.5
-
Maulita, A., Luturmas, M., & Rahmat, A. (2023). Gender and financial literacy: A study among Indonesian working women. Asian Journal of Economics, 14(2), 90–102.
-
Manning, C., & Effendi, T. N. (1985). The informal sector in Indonesia: Problems and policies. Jakarta: Yayasan Obor Indonesia.
-
Mazumdar, D. (1989). Microeconomic issues of labor markets in developing countries: Analysis and policy implications. Washington, DC: World Bank.
-
Mendari, A., & Kewal, S. S. (2013). The effect of financial literacy on financial behavior of students in Surabaya. Jurnal Ilmiah Mahasiswa Manajemen, 2(1), 1–9.
-
Miu, S., Mahmud, M., & Polamolo, C. (2025). Women empowerment and household welfare: Financial education perspectives in Gorontalo. Jurnal Ekonomi dan Pendidikan, 12(1), 22–33.
-
National Seminar on Official Statistics. (2021). Informal labor and economic resilience in Indonesia. Statistics Indonesia (BPS).
-
Nazara, S. (2010). Ketenagakerjaan di Indonesia: Antara ketenangan dan ketidakpastian. Jakarta: Bappenas.
-
Organization for Economic Cooperation and Development (OECD). (2011). Measuring financial literacy: Questionnaire and guidance notes for conducting an internationally comparable survey of financial literacy. Paris: OECD.
-
Otoritas Jasa Keuangan. (2013). Strategi nasional literasi keuangan Indonesia. Jakarta: OJK.
-
Otoritas Jasa Keuangan. (2017). Survei nasional literasi dan inklusi keuangan. Jakarta: OJK.
-
Remund, D. L. (2010). Financial literacy explicated: The case for a clearer definition in an increasingly complex economy. Journal of Consumer Affairs, 44(2), 276–295. https://doi.org/10.1111/j.1745-6606.2010.01169.x
-
Sappaile, B. I. (2010). Metodologi penelitian ekspos facto dalam pendidikan. Jurnal Pendidikan dan Kebudayaan, 16(3), 307–315.
-
Sugiyono. (2017). Metode penelitian kuantitatif, kualitatif, dan R&D. Bandung: Alfabeta.
-
UN-Habitat. (2016). Urban economy: Informal sector and inclusive growth. Nairobi: United Nations Human Settlements Programme.
Issue
