Does Financial Perception Mediating the Financial Literacy on Financial Behavior? A Study of Academic Community in Central Java']Java Island, Indonesia

This study aims to investigate the financial knowledge, financial awareness, and financial experiences through financial perception toward financial behavior among academic community in Indonesia. Structural equation modeling (SEM) is used to answer the research purpose. Using probability random sampling this study, take 300 samples as participants among lecturer in Central Java Island, Indonesia. The data are collected by face to face field survey. The samples consist of 59% lecturer in public University and 41% in private University. The proportion of gender is 50% female and 50% male. The majority of the participants were 26-50 years old. This study has proven a significant positive impact of financial knowledge, financial awareness, financial experience and financial perception on financial behavior. Financial behavior was found to be caused by financial perception variables which, in turn, were influenced by knowledge, awareness and experience. People, who has a better understanding in financial concept and have awareness on how they manage financial information and have experience will act in a better way to manage the money financial knowledge possessed by a person can be influenced by financial experience and financial awareness, and ultimately can form a good perception, in turn, actual financial behavior depends on all (knowledge, awareness, experience and perception).