Muhammad Bukhori Dalimunthe, Rosmala Dewi, Haryadi, Siti Chairani Lubis
Financial knowledge during college is the basis for behavior and determining investment decisions in education to enhance financial resource skills. This study examines the impact of financial literacy on educational investment decisions via students' financial behavior. The research involved 272 students from the Faculty of Economics, Universitas Negeri Medan-Indonesia. The sample determination used proportional random sampling. Data analysis used path analysis and Sobel test to investigate the effectiveness of mediation. There are two structures to test the hypothesis. First, it has been proven that there is a negative relationship between financial literacy and financial behavior. Lastly, it has been proven that financial literacy and financial behavior in investment decisions in education have a negative impact. Financial behavior has a negative relationship with financial literacy and investment decisions, so it is effective as a mediator, as evidenced by the Sobel test. Financial literacy obtained in college does not necessarily provide strong confidence in students' financial behavior to invest in education. A powerful belief is needed that investing in education provides long-term benefits that require sacrifice. © 2026, SRAC-Romanian Society for Quality. All rights reserved.
Faculty of Economics, Universitas Negeri Medan, Medan, Indonesia; Faculty of Educational Science, Universitas Negeri Medan, Medan, Indonesia
