Academia Open
Vol 9 No 2 (2024): December
Business and Economics

Social Media, Friendships, and Financial Literacy Drive Millennial Investments
Media Sosial, Pertemanan, dan Literasi Keuangan Mendorong Investasi Milenial


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  • Nesti Istichomah,
  • Wisnu Panggah Setiyono*
Nesti Istichomah
Universitas Muhammadiyah Sidoarjo, Indonesia
Wisnu Panggah Setiyono
Universitas Muhammadiyah Sidoarjo, Indonesia *

(*) Corresponding Author
Picture in here are illustration from public domain image or provided by the author, as part of their works
DOI: https://doi.org/10.21070/acopen.9.2024.8123
Published December 6, 2024
Keywords
  • Millennials,
  • Investing,
  • Social Media,
  • Financial Literacy,
  • Friendships
How to Cite
Istichomah, N., & Setiyono, W. P. (2024). Social Media, Friendships, and Financial Literacy Drive Millennial Investments. Academia Open, 9(2), DOI 10.21070/acopen.9.2024.8123. https://doi.org/10.21070/acopen.9.2024.8123

Copyright (c) 2024 Nesti Istichomah, Wisnu Panggah Setiyono

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study explores the factors influencing millennial interest in investing, focusing on social media usage, investment understanding, and friendships. Using a quantitative approach, data was gathered from 100 respondents through questionnaires and analyzed with IBM SPSS 16. The results indicate that social media usage, investment knowledge, and friendships each significantly affect millennials' interest in investing, both individually and collectively. These findings highlight the pivotal role of digital platforms, financial literacy, and social networks in shaping investment behaviors among millennials.

Highlight:

  1. Social media usage significantly influences millennials' investment interest.
  2. Investment understanding is crucial for millennials' investment decisions.
  3. Friendships play a key role in shaping millennial investment behaviors.

 

Keywoard:  Millennials, Investing, Social Media, Financial Literacy, Friendships

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