Journal of Management and Administration Provision Vol.
Issue 3, 2025 Page 479-491 DOI: https://doi.
org/10.
55885/jmap.
The Effect of Mental Accounting and Heuristics on Financial Behavior with Self-Efficacy as Moderator Titya Advianti P.
Barek1.
Meykel Djuuna1.
Surya Danang1 1Akademi Bisnis dan Keuangan Primaniyarta.
Indonesia Email: tityabarek@abkprimaniyarta.
Abstract.
This study aims to analyze the effect of mental accounting and heuristics on financial behavior, with self-efficacy as a moderating variable in Insan Corporation Manado employees.
This research is motivated by the empirical phenomenon that the majority of employees show financial behavior that does not reflect the principles of good financial management, such as the tendency to make impulsive purchases, lack of budget planning and the dominance of emotional The method used is a quantitative approach with survey techniques using online questionnaires .
oogle for.
distributed to 131 respondents.
Data analysis was carried out using Structural Equation Modeling - Partial Leas Squares (SEM-PLS).
The results showed that mental accounting has a positive and significant influence on financial behavior with a sig.
000, as well as heuristics have a positive and significant influence on financial behavior with a sig.
value of 0.
Furthermore, self-efficacy is proven to positively and significantly moderate the relationship between mental accounting and financial behavior .
value of 0.
, and negatively moderate the relationship between heuristics and financial behavior .
value of Thus, it can be concluded that mental accounting and heuristics play a significant role in shaping employees' financial behavior, while self-efficacy is the main psychological factor that can strengthen or weaken their influence.
A person's level of confidence in managing their finances plays an important role in encouraging more adaptive and rational financial behavior.
Keywords: Mental Accounting.
Heuristic.
Self-Efficacy.
Financial Behavior.
SEM-PLS
Received: July 28, 2025 Received in Revised: August 15.
Accepted: September, 2025
INTRODUCTION
Financial behavior has become a strategic issue in the context of training productive human resources, along with the increasing complexity of financial decision-making in the modern era.
Financial behavior reflects the extent to which individuals can effectively manage, plan and evaluate their financial conditions.
However, the reality on the ground shows that increasing income is not necessarily followed by rational financial behavior.
As stated by (Shi et , 2025.
Abdallah et al.
, 2.
Income individuals actually show a tendency to consumptive behavior, lack of financial planning and lack of discipline in saving and recording expenses (Shih & Ke, 2.
This phenomenon is also seen in the context of workers in private institutions in Manado City, where most respondents do not have systematic financial management habits.
This condition indicates a mismatch between adequate earning capacity and actual financial management behavior (Oskouei & Sureshjani, 2021.
Abrigo & Ferrer, 2016.
Rashid et al.
, 2.
E-ISSN: 2776-1290.
P-ISSN: 2776-1282
Copyright A 2025.
Journal of Management and Administration Provision.
Under the license CC BY-SA 4.
| 479
Theoretically, financial behavior can be explained through the behavioral finance approach which emphasizes the importance of psychological factors in influencing financial decision making.
An important variable is mental accounting, which is the tendency of individuals to classify money according to certain categories in a "mental account: (Thaler, 1.
Studies by Faizal et al.
show that mental accounting has a significant influence on financial behavior, especially in grouping and spending control.
On the other hand, heuristics are cognitive strategies that are quickly used in decision making, but have the potential to create systematic bias (Blumenthal-Barby & Krieger, 2.
Research (Made & Wirayana, 2.
states that heuristics can have a positive influence if used by individuals who have sufficient experience, but become negative if not controlled by reflective abilities (West et al.
, 2.
Therefore, other factors are needed that can moderate the cognitive impact on financial behavior.
One factor that has the potential to strengthen or weaken this influence is self-efficacy.
Banduran's theory, 1997 in research (Mawaddah, 2019.
Sjamsuri & Muliyani, 2.
states that self-efficacy is a person's belief in their ability to complete tasks or achieve certain results.
Individuals with high levels of self-efficacy tend to have better self-control in managing finances.
Research by (Lathiifah & Kautsar, 2.
confirms that self-efficacy plays an important role in increasing rational and directed financial behavior.
Although there are several studies that have examined the relationship between mental accounting, heuristics and financial behavior, most have not positioned self-efficacy as a multiple moderating variable.
In addition, most studies are still limited to the population of students or employees in the formal sector, so not many have examined workers in the service business sector in formal and non-formal education in Indonesia (Ramatni, 2024.
Khumsamart, 2022.
Denkowska et al.
Therefore, there is a gap in research to explain how the three psychological variables interact and influence financial behavior in unique local contexts and Previous studies have highlighted the importance of cognitive and psychological aspects in financial behavior, but have been limited in integrating them into a unified model.
In addition, the role of self-efficacy as a moderator between mental accounting and heuristics in financial behavior has not been widely studied, especially in the context of workers in the non-formal education sector.
This study fills this gap with a comprehensive and contextualized interaction model approach.
LITERATURE REVIEW
Financial Behavior Financial behavior refers to the capacity and activities of individuals in overseeing their finances, encompassing planning, spending, recording, monitoring, and financial reporting.
Dwiastanti .
Setianingsih et al.
Prayuda & Purwanto .
, found that individuals with high financial knowledge, internal locus of control and adequate income are more likely to perform effective saving, budgeting and spending control behaviors.
This process includes effective budgeting, cash management, saving and investment, with the aim of creating financial stability and responsibility for financial resources owned.
Financial management behavior consists of planning, organizing, and controlling financial activities, such as raising and using company funds that apply general management principles to financial resources (Dwiastanti & Wahyudi, 2.
The meaning of the importance of financial management is very necessary, because financial management is something that every human being always faces in his life.
In a modern context, financial behavior is influenced by rational and non-rational factors, including psychological aspects such as emotions, risk perception, and selfconfidence.
Behavior is a person's way of acting or action.
Personal finance is the financial E-ISSN: 2776-1290.
P-ISSN: 2776-1282 Copyright A 2025.
Journal of Management and Administration Provision.
Under the license CC BY-SA 4.
| 480
management that a person does to obtain a budget and savings by considering various financial risks and future life events.
Mental Accounting The concept of mental accounting was first introduced by Antonides & Ranyard .
as part of the behavioral economics approach.
Mental accounting is the tendency of individuals to mentally separate money into specific accounts, such as funds for basic needs, leisure, savings or These groupings are not always rational, but psychologically help individuals to organize spending and avoid excessive consumption.
Research from (Mawardi et al.
, 2.
shows that mental accounting significantly increases positive financial behaviors, such as the ability to set aside emergency funds and resist impulsive spending.
Meanwhile, (Syaputri & Pradesyah, 2.
found that the implementation of good mental accounting significantly reduced the likelihood of financial stress among employees of educational institutions.
Therefore, mental accounting is considered an effective cognitive tool in personal financial management.
Heuristics Heuristics are quick thinking strategies that individuals use when making decisions with limited information or under time pressure.
In finance, heuristics can appear in the form of anchoring .
etting stuck on a particular reference numbe.
, availability bias .
ecisions based on the most recent and memorable informatio.
and representativeness .
valuating situations based on similarity to previous pattern.
(Maradona, 2.
Research (Pitthan & De, 2.
shows that the use of heuristics can have a positive impact if accompanied by experience and good financial literacy.
However, (Pitthan.
, & De, 2.
found that heuristics can lead to bias and wrong financial decisions, especially in people who have low financial literacy.
In the context of education personnel, heuristics are often used as a substitute for rational analysis, which can be risky if not properly controlled.
Self-Efficacy Self-efficacy is an individual's belief in his or her ability to organize and carry out certain actions to achieve goals Bandura's theory, 1997 in research (Yanuardianto, 2.
In the context of finance, self-efficacy plays a role in shaping the belief that a person is able to make the right decisions, manage a budget and survive consumption pressures (Jumady et al.
, 2.
states that individuals with high self-efficacy tend to have better financial control.
They are more disciplined in saving, able to delay satisfaction and are wiser in using income.
Conversely, individuals with low self-efficacy are more easily tempted by impulsive consumption and tend not to have clear financial planning.
As a moderating variable, self-efficacy is believed to strengthen the influence of mental accounting on financial behavior and control the negative effects of heuristics.
This means that individuals with high self-efficacy tend to be able to utilize mental accounting to the fullest and avoid the negative impact of uncontrolled use of heuristics.
METHODS
This study uses a quantitative explanatory approach with a survey method to look into the impact of mental accounting and heuristic variables on financial behavior, while also analyzing the moderating function of self-efficacy.
The explanatory approach is used to explain the causal relationship between variables based on data obtained directly from respondents through questionnaires.
The population of this study were all employees of Insan Corporation, a service company in the field of formal and non-formal education in Manado City.
The sample used was a saturated sample, where all members of the population were used as respondents because the number was relatively small and affordable.
The number of respondents obtained was 131 people, with an age range between 20-60 years and an income level between Rp.
2,000,000,- to more than Rp.
8,000,000,- every month.
The data collection method used was primary data collection through the distribution of closed questionnaires using a 5-point Likert scale from "very inadequate" .
to "very adequate" .
The questionnaire was developed based on E-ISSN: 2776-1290.
P-ISSN: 2776-1282 Copyright A 2025.
Journal of Management and Administration Provision.
Under the license CC BY-SA 4.
| 481
theoretical indicators and previous research related to the variables of Mental Accounting (Thaler, 1.
Heuristics.
Self-Efficacy and Financial Behavior.
The data analysis technique used in this study consists of .
descriptive analysis of respondent characteristics.
Structural Equation Modeling (SEM) analysis based on Partial Least Squares (PLS) with the help of SmartPLS software version 4.
This technique was chosen because it allows for testing complex relationships between latent variables and accommodates moderation models.
The analysis steps include descriptive analysis of respondent characteristics carried out by creating a frequency distribution table that will show the percentage of respondents according to gender, age and monthly income of employees and SEM-PLS analysis is used to test structural relationships between complex latent variables, but can also be used to confirm theories or test new models (Sarstedt et al.
, 2.
PLS-SEM analysis consists of two sub-models, namely external model tests .
alidity and reliability of indicator.
and internal model tests .
ypothesis testing.
R-squared and moderation effect.
This research introduces a fresh examination of the impact of mental accounting and heuristics on the financial behavior of non-formal education professionals, a topic that has not been well explored.
In addition, this study presents a unique moderating interaction of self-efficacy, which strengthens the influence of mental accounting and heuristics, expanding understanding of the role of psychology in everyday financial decision making.
Table 1.
Operational Definition of Variables and Their Measurement Variable Financial (Y) Operational Definition A set of individual actions or habits in managing, planning, using, and evaluating their finances to achieve financial Indicator Saving habit Spending according to Regular financial Confidence in Ability to control Confidence in making financial decisions Selfefficacy (Z) An individual's belief in his or her ability to manage personal finances and make effective financial decisions under various conditions.
Mental (X.
The cognitive process in which individuals classify, organize, and evaluate finances based on certain mental categories, such as money sources and spending Division of money for different needs Separation of financial Discipline in the use of funds according to plan 4.
A quick decision-making strategy based on intuition or past experience that individuals use when faced with complex financial situations.
Indicators: 1.
Financial decisions based on Habit of following past Influence of newer information .
vailability Heuristics (X.
Scale Source Likert (Mawardi et al.
, 2025.
Khairiyah.
Likert (Asmin et , 2021.
Atikah & Kurniawan.
Likert (Radianto Pramudita.
Kusnandar et al.
Likert (Azi et al.
Loris & Jayanto.
Source: Researcher Processed Data .
RESULTS AND DISCUSSION A total of 131 respondents participated in this study, consisting of staff working in service companies in the field of formal and non-formal education in Manado City.
Based on the E-ISSN: 2776-1290.
P-ISSN: 2776-1282 Copyright A 2025.
Journal of Management and Administration Provision.
Under the license CC BY-SA 4.
| 482
demographic distribution in Table 1, the composition of respondents was 49.
6% male and 50.
This balance reflects an even distribution and avoids the possibility of gender bias in financial behavior.
The majority of respondents .
%) were aged 26-30 years, followed by those aged 31- 40 years .
%), 20-25 years .
%), and only 5% were aged above 41 years.
This shows that the study population is dominated by the early productive age group, which is in the formative phase of financial behavior.
The majority of respondentsAos monthly income is between IDR 3,000,000 to IDR 3,999,999 .
%), and between IDR 4,000,000 to IDR 4,999,999 .
%).
This condition indicates that the respondents are in the early stages of financial independence, with high financial pressure.
Therefore, cognitive and psychological-based financial management strategies are highly relevant for this group.
Table 2.
Demographic Distribution of Respondents .
Description 1 Gender Description Number Percentage Male Female 49,6% 50,4% 20 - 25 years old 26 - 30 years 31 - 40 years 41 - 60 years < Rp.
2,000,000
Rp.
2,000,000 - Rp.
2,999,999
Rp.
3,000,000 - Rp.
3,999,999
Rp.
4,000,000 - Rp.
4,999,999
Rp.
5,000,000 - Rp.
5,999,999
Rp.
6,000,000 - Rp.
6,999,999
Rp.
7,000,000 - Rp.
7,999,999
> Rp.
8,000,000
Age Income Source: Researcher Processed Data .
The external model in PLS-SEM analysis is used to confirm whether the indicators used in the questionnaire or research instrument are valid and reliable to represent their constructs.
The results of the processed data show that all items used in this study are valid and reliable, as indicated by the loading factor value> 0.
70 (Radianto et al.
, 2.
Table 3.
Convergent Validity HE01
HE02
HE03
HE04
HE05
HE06
MA01
MA02
MA03
MA04
Heuristics Mental accounting Financial behavior Self-efficacy 0,866 0,844 0,874 0,880 0,843 0,856 0,902 0,882 0,789 0,897 E-ISSN: 2776-1290.
P-ISSN: 2776-1282
Copyright A 2025.
Journal of Management and Administration Provision.
Under the license CC BY-SA 4.
| 483
MA05
MA06
PK01
PK02
PK03
PK04
PK05
PK06
PK07
PK08
PK09
PK10
SE01
SE02
SE03
SE04
SE05
SE06
SE07
SE08
0,885
0,820
0,819
0,879
0,857
0,836
0,898
0,872
0,851
0,878
0,794
0,782
0,892
0,831
0,912
0,912
0,918
0,899
0,894
0,867
Source: Researcher Processed Data .
AVE is a measure used to check convergent validity, namely the extent to which the indicators used actually represent the latent construct being measured.
A good AVE value is> 50, which means that more than 50% of the indicator variance is explained by the measured construct (Radianto & Pramudita, 2.
The results of data processing show that the constructs in this study have sufficient convergent validity and are evidenced by the AVE value> 0.
Table 4.
Average Variance Extracted (AVE) Average variance extracted (AVE) Heuristic 0,740 Mental accounting 0,746 Financial behavior
0,718
Self-efficacy 0,794 Source: Researcher Processed Data .
Discriminant validity is a measure that shows the extent to which a construct is empirically different from other constructs in the model.
Discriminant validity tests can be carried out using the Heterotrait-Monotrait Ratio (HTMT) approach, with the ideal limit of HTMT <0.
85 (Radianto & Pramudita, 2.
The results of data processing show that each construct has adequate discriminant validity, as evidenced by the HTMT value <0.
85, with the highest value between Financial Behavior and Mental Accounting and the lowest value between Self Efficacy and Mental Accounting.
E-ISSN: 2776-1290.
P-ISSN: 2776-1282
Copyright A 2025.
Journal of Management and Administration Provision.
Under the license CC BY-SA 4.
| 484
Table 5.
Discriminant validity Mental Accounting <-> Heuristic Financial behavior <-> Heuristic Financial behavior <-> Mental accounting Self-efficacy <-> Heuristic Self-efficacy <-> Mental accounting Self-efficacy <-> Financial behavior Heterotrait-Monotrait Relationship (HTMT) 0,657 0,754 0,765 0,726 0,600 0,710 Source: Researcher Processed Data .
Reliability test is used to assess the internal consistency of indicators in measuring a latent construct.
Cronbach's Alpha value Ou 0.
70 indicates that the construct has good reliability and a good CR value is Ou 0.
70 indicates that the construct has strong internal consistency and the indicators work together optimally in representing the construct.
The data processing results show a value> 0.
70, so the construct has good reliability and strong internal consistency.
Table 6.
Cronbach's Alpha and Composite Reliability Heuristics Mental accounting Financial behavior Self-efficacy Cronbach's Alpha Composite Reliability .
0,930 0,945 0,931 0,946 0,956 0,962 0,963 0,969 Source: Researcher Processed Data .
Figure 1.
Data Processing Results The relationship between variables in this research model is made in the form of a graph in Figure 1 so that the relationship between variables can be seen.
The internal model or structural model in PLS-SEM is part of the SEM model which describes the relationship between latent variables (Radianto & Pramudita, 2.
Table 7.
VIF Test Financial behavior Heuristic 2,251 Mental accounting 1,972 Self-efficacy 2,525 Source: Researcher Processed Data .
E-ISSN: 2776-1290.
P-ISSN: 2776-1282 Copyright A 2025.
Journal of Management and Administration Provision.
Under the license CC BY-SA 4.
| 485
From the results of data processing in Table 7, it can be seen that all constructs in the model have VIF values <5, which indicates that there is no multicollinearity in the structural This strengthens the quality of the estimated relationship between variables in the internal model and indicates that each independent variable has a valid and non-overlapping contribution in explaining the dependent variable, namely financial behavior.
Table 8.
Coefficient of determination (R.
Financial behavior R-squared 0,685 Adjusted R-squared 0,672 Source: Researcher Processed Data .
Table 8 shows that the data yields the R-squared value of 0.
685 and adjusted RA of 0.
indicated that the structural model of this study has a strong explanatory power for financial behavior variables.
This indicates that the constructs of heuristics, mental accounting and selfefficacy contribute significantly in explaining variations in the financial behavior of non-formal education personnel.
Table 9.
Effect Size Test Heuristics -> Financial behavior Mental accounting -> Financial behavior Self-efficacy -> Financial behavior Self-efficacy x Mental accounting -> Financial behavior Self-efficacy x Heuristic -> Financial behavior f-squared 0,113 0,289 0,095 0,024 0,025 Source: Data Processed from Researchers .
As indicated by the data in Table 9, the effect size test .
shows that mental accounting contributes the most to financial behavior .
A = 0.
, which indicates that classifying, separating, or dealing with money plays an important role in financial decisions.
Heuristics had a strong but not dominant influence, indicating that intuitive and quick decisions still play a role in the financial behavior of non-formal education staff, but not as much as the influence of mental Direct or moderate self-efficacy has only a small but significant influence.
This suggests that personal psychological factors .
elf-efficac.
are still important, although not the main determinant.
Hypothesis testing aims to determine whether the influence between structural model constructs can be statistically tested from the sample data used (Sarstedt et al.
Hypothesis testing is done by analyzing the p-value, t-statistic and coefficient.
The results of data processing can be seen in table 9 Path Coefficient Test.
Table 10.
Path Coefficient Test
Original Sample sample average (O) (M) Heuristic -> Financial Accounting mentality -> Financial behavior
Self-efficacy x Mental
accounting -> Financial Behavior
Self-efficacy x Heuristic -> Financial behavior
Standard
(STDEV)
T-statistic (|O/STDEV|) Pvalues 0,283 0,295 0,070 4,034 0,000 0,424 0,416 0,073 5,768 0,000 0,181 0,177 0,090 2,008 0,045 -0,186 -0,182 0,092 2,034 0,043 Source: Researcher Processed Data .
E-ISSN: 2776-1290.
P-ISSN: 2776-1282 Copyright A 2025.
Journal of Management and Administration Provision.
Under the license CC BY-SA 4.
| 486
Mental Accounting has a Significant Positive Effect on Financial Behavior The results of the data processing in table 10, it can be seen that the mental accounting variable (X.
has a significant positive effect and is the most dominant variable, as evidenced by the p-value <0.
005, namely 0.
000 and t count> 1.
96, namely 5.
768 and coefficient 0.
This value shows that mental accounting has the largest and most significant positive effect on financial behavior.
This value indicates that mental accounting has the largest and most significant positive influence on financial behavior.
Individuals who have a strong tendency to separate expenses into categories .
money for food, savings, emergency fun.
and allocate funds according to needs tend to show healthy financial behavior.
The high coefficient value ( = .
indicates that cognitive and structured financial management contribute more than the other constructs.
This finding is consistent with mental accounting theory from (Thaler, 1.
, which states that individuals tend to mentally deal with money in certain categories as a way to organize spending and financial decision-making.
In the context of non-formal education personnel, this practice is very relevant because they need to organize expenses in a disciplined and realistic manner based on expenses that tend to fluctuate.
This research is in line with research by (Putri et al.
, 2.
where mental accounting has a significant positive influence on financial behavior.
Heuristics Have a Significant Positive Effect on Financial Behavior According to the findings in table 10, the heuristic variable (X.
has a significant positive result, which is indicated by a p-value <0.
005, namely 0.
000 and a t-statistic> 1.
96, namely 4.
and a coefficient of 0.
These values indicate that the effect of heuristics on financial behavior is that the greater the tendency of individuals to use heuristic approaches .
uch as intuition, mental shortcuts, and past experience.
when making financial decisions, the greater their tendency to exhibit active financial behaviors such as managing finances, recording expenses, and avoiding waste.
However, since heuristics are prone to bias, their role is weaker compared to mental accounting.
Thus, heuristics make a moderate contribution in shaping the financial behavior of non-formal education staff who have to make practical decisions every day.
This study is in line with research (Praditha et al.
, 2.
where heuristics influence financial investment decision-making, indicating that heuristics, which is a quick-thinking process .
, can lead to quick and adaptive decision-making, both in the context of investment and daily financial Self-Efficacy Moderates Mental Accounting in Financial Behavior The data in table 10 demonstrate the test outcomes, highlighting that the self-efficacy variable positively moderates the relationship between mental accounting and financial behavior (X.
has a significant positive result .
oderation is strengthene.
, as evidenced by the p-value> 005, namely 0.
045 and t count> 1.
96, namely 2.
008 and coefficient 0.
This value indicates that the higher the level of self-efficacy, the higher the relationship between mental accounting and financial behavior.
This value indicates that the higher the level of a person's self-efficacy, which is an individual's belief in his ability to manage and control financial situations, the greater the influence of mental accounting in shaping his financial behavior.
This moderating effect is very important because it shows that although individuals understand financial grouping .
ental accountin.
, its effectiveness will be more pronounced if the individual is confident and secure in its application.
This suggests that financial management training should not only focus on cognitive aspects, but also strengthen psychological aspects, such as confidence in financial decision making.
Although self-efficacy is not a moderating variable, self-efficacy and mental accounting have a positive and significant effect on financial behavior.
Self-Efficacy Moderates Heuristics in Financial Behavior The test results in table 9 imply that the self-efficacy variable positively moderates the relationship between heuristics and financial behavior (X.
, the results of this data processing E-ISSN: 2776-1290.
P-ISSN: 2776-1282 Copyright A 2025.
Journal of Management and Administration Provision.
Under the license CC BY-SA 4.
| 487
are not in accordance with the hypothesis formulated where the results of data processing show that the self-efficacy variable negatively moderates the relationship between heuristics and financial behavior generated with a p-value> 0.
005, namely 0.
005, namely 0.
043, t-statistic t> 1.
96, namely 2.
034 and coefficient -0.
This value shows that the higher the self-efficacy of an individual, the lower the influence of heuristics on financial behavior.
This can occur because individuals with high levels of self-efficacy tend to make more rational, planned and calculated decisions, and avoid impulsive decision making or decisions based on mental shortcuts.
Therefore, as self-efficacy increases, the influence of heuristic style on financial decision-making will decrease, as individuals are more likely to rely on careful analysis and judgment rather than relying solely on intuition.
This is theoretically important because it shows that self-efficacy does not always strengthen the relationship between variables, but can also be an inhibiting factor against potentially biased decision-making styles, such as heuristics.
This research is in line with research conducted by (Dewi & Rochmawati, 2.
where self-efficacy weakens the heuristic CONCLUSION This study aims to analyze the effect of Mental Accounting and Heuristics on Financial Behaviour, with Self-Efficacy as a moderating variable, on employees of service companies in the field of formal and non-formal education in Manado City.
This research uses a quantitative approach with the SEM-PLS analysis method.
The results of the internal model test show that the structural model built in this study has strong explanatory power, with an R-squared value of 685, meaning that 68.
5% of variations in financial behavior can be explained by the constructs of mental accounting, heuristics and self-efficacy.
The moderating effect of self-efficacy on both interaction relationships was identified as significant but on a small scale .
ffect size fA < 0.
which means that the role of self-efficacy as a moderator is theoretically relevant although its contribution is quantitatively limited.
The hypothesized results of this study include: .
Mental accounting has a positive and significant effect on financial behavior.
Heuristics also have a positive and significant effect on financial behavior, although not as strong as mental accounting.
Self-efficacy strengthens the effect of mental accounting on financial behavior.
Self-efficacy weakens the effect of heuristics on financial behavior.
SUGGESTION
Related companies are encouraged to offer personal financial management training that emphasizes not just financial planning procedures .
ental accountin.
but also the enhancement of self-efficacy, enabling employees to manage their finances with greater confidence and This research can be further advanced by incorporating additional factors such as financial literacy, self-control, or future orientation, and use mixed methods to explore the characteristics of financial behavior more comprehensively.
REFERENCES