The Effect of Fintech Payment and Locus of Control on Personal Financial Management: Evidence from Muslim University Students in Pekanbaru

Fatihatul Faizah; Putri Jamilah; Muhammad Lisman

Authors

Fatihatul Faizah Universitas Muhammadiyah Riau, Indonesia
Putri Jamilah Universitas Muhammadiyah Riau, Indonesia
Muhammad Lisman Universitas Muhammadiyah Riau, Indonesia

Keywords:

Fintech Payment, Locus of Control, Personal Financial Management, Muslim Students, Financial Technology

Abstract

The rapid development of financial technology (fintech) has transformed personal financial management practices, particularly among university students who face increasing demands for efficient and flexible financial transactions. This study aims to examine the influence of fintech payment usage and locus of control on the personal financial management of Muslim university students in Pekanbaru. Using a quantitative approach with multiple linear regression analysis, data were collected through a structured questionnaire from 100 respondents selected via purposive sampling. The findings reveal that both fintech payment and locus of control have significant positive effects on personal financial management, both individually and simultaneously, with a coefficient of determination (R²) of 0.637. Fintech payment enhances efficiency, real-time monitoring, and budgeting accuracy, while a strong internal locus of control fosters discipline, responsibility, and long-term financial planning. The study concludes that the integration of technological competence and psychological self-control forms a robust foundation for healthy financial behavior. These results imply that financial literacy programs for students should combine digital finance skills with the development of self-regulation, especially within the framework of Islamic financial principles, to promote sustainable and responsible financial practices.

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