Mental accounting and financial literacy mediate determinants of financial management behavior among teacher education students

Abstract

This study examines how learning experience, emotional intelligence, and financial attitude influence financial management behavior through mental accounting and financial literacy. A cross-sectional explanatory survey involved 400 teacher education students in Greater Bandung using proportional random sampling. Data were collected using questionnaires and analyzed using Structural Equation Modeling. Learning experience and financial attitude predicted mediators, whereas emotional intelligence did not affect either mediator. Emotional intelligence directly influenced financial management behavior, while learning experience and financial attitude had no significant direct effects. Mental accounting and financial literacy predicted financial management behavior and mediated the effects of learning experience and financial attitude. Financial management behavior is shaped through cognitive financial mechanisms, highlighting the importance of experiential learning, mental accounting, financial literacy in strengthening financial behavior among future educators.