Analysis of the Effect of Cangkal Values on Adolescents' Financial Behavior

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Lack of adequate knowledge creates a gap between financial literacy and financial inclusion, which leads to increased fraud and even online loan traps. The purpose of this study is to analyze the influence of local Cangkal cultural values ​​on financial planning, risk awareness, spending attitudes, decision making, and social values ​​in financial management. This study uses quantitative analysis using (SEM-PLS) to obtain the effect of the integration of Cangkal cultural values ​​on financial literacy. This study was conducted in junior high schools in Banjarmasin City and Barito Kuala Regency with a sample of 491 students in grade VII. The results of the study indicate the influence of local culture in improving financial literacy. This influence is indicated by a t value above (t ≥ 1.96) namely the t value for financial planning is 135.227; financial risk awareness is 185.418; the shopping attitude score for the item is 117.734; the social value score is 139.316; and the financial decision-making score was 138.948. Cronbach's alpha results showed values ​​ranging from 0.802 to 0.960, indicating that all items were consistent. Validity results were seen from the loading factor of 0.777 to 0.976, indicating that all items were correlated with each other. This study suggests that local culture can influence adolescents' financial behavior. financial literacy cultural values cangkal Figures Figure 1 Figure 2 Figure 3 Introduction The rapidly growing digital economy has led to the emergence of a variety of financial products. People are required to be able to use them, even though their knowledge and understanding are sometimes lacking. This demand requires people to be able to perform basic financial management, including financial planning, savings, and rational spending. The financial literacy rate of adolescents in Indonesia is 43.28%, still below the national target of 49.68% [ 1 ]. This gap certainly needs to be addressed. Low financial literacy can lead to problems such as inappropriate financial decisions and even an increase in victims of financial fraud [ 2 ]. The primary goal is financial education. Providing financial education as early as possible will help people develop good financial management habits. Furthermore, it can be instilled through daily habits, taking socio-cultural aspects into account. Financial behavior can be shaped through family, social, and cultural environments [ 3 ] [ 4 ] [ 1 ]. Financial literacy does not emerge naturally in every person, but is acquired through the influence of various factors such as age, parenting style in the family, and even culture [ 2 ] [ 5 ]. Culture in this case can refer to habits, ideas, or values that exist in a particular community. Learning will be more active and meaningful when it is integrated with the local culture of the students and in line with global education trends that support holistic and integrated learning [ 6 ] [ 7 ]. Financial education in Indonesia currently still lacks the optimal integration of students' local cultural backgrounds, especially in junior high school. Integrating local culture, however, can lead to more meaningful learning. Similarly, when financial education is conducted in schools, if it does not relate to the context of students' local cultural environment, financial behavior may not improve and may lead to problems such as poor financial planning, low risk awareness, unreasonable spending, and even irresponsible financial management [ 8 ] [ 9 ]. Therefore, in-depth learning is needed that integrates local cultural values ​​into the learning process to understand their impact on financial behavior. For example, consider the local culture of the Banjar people in Indonesia, such as cangkal. Cangkal is a spirit of doing something with the goal of maximum achievement, emphasizing the principles of hard work, responsibility, and perseverance. When linked to financial literacy, cangkal can encourage financial habits such as earning an income, rational spending, saving, and a sense of solidarity in sharing [ 10 ] [ 11 ]. If local cultural values are reflected in the curriculum, then based on educational theory, students will be actively involved and their understanding will improve, especially when linked to financial socialization theory, students' understanding of financial concepts will also improve [ 12 ] [ 13 ] [ 14 ] [ 15 ]. In addition, the integration of local culture in learning can also encourage retention and application of financial knowledge and student confidence [ 16 ] [ 17 ] [ 18 ]. This certainly has an impact on the maturation of students in financial competence [ 11 ]. Mastery of knowledge and changes in attitude have created a gap because they do not discuss in depth the impact on financial behavior, risk calculation, and efficient spending attitudes. Therefore, it is necessary to examine the behavioral results of financial literacy education from a cultural perspective, such as demographic aspects [ 19 ] [ 20 ]. Financial education linked to students' local culture has not been optimally implemented, even though linking it provides an opportunity to explore the role of cultural frameworks in improving financial decision-making [ 21 ][ 21 ]. This study aims to analyze the influence of cultural values ​​on financial literacy, including planning, risk awareness, spending attitudes, financial decision-making, and social values ​​in financial management. The objective of this study targets five financial aspects through the integration of cultural values, namely: (1) financial planning, (2) risk awareness, (3) consumer attitudes, (4) financial decision-making, and (5) social values in financial management. Materials and Methods Research Design This study uses a quantitative method by testing the influence of local cultural values ​​of cangkal on financial planning, financial risk awareness, shopping attitudes, financial decision making and social values ​​of financial management using statistical analysis of Structural Equation Modeling Partial Least Squares (SEM-PLS) [ 22 ] [ 22 ]. This study involved junior high schools with A accreditation in Banjarmasin City and Barito Kuala Regency with a sample of 491 students from class VII. The research sample data is as follows: SMPN 1 Marabahan 51 students; SMPN 1 Tamban 65 students; SMPN 4 Alalak 63 students; SMPN 14 Banjarmasin 60 students; SMPN 27 Banjarmasin 59 students; SMPN 6 Banjarmasin 66 students; SMPN 19 Banjarmasin 69 students; and SMPN 33 Banjarmasin 58 students. Research Instrument The instrument used in this study was a observation, questionnaire and documentation. Before distribution, the questionnaire was pre-tested by experts in the field, consisting of seven junior high school social studies teachers and lecturers. The validation threshold for the assessment categories was above 0.82. The questionnaire measured the following variables and their respective indicators: Table 1 Research Variables and Indicators Variable Main Indicators (X) Integration of Cangkal Cultural Values 's belief system, work ethic, and financial preferences (Y1) Financial Planning Budgeting, expense tracking, allowance allocation [ 24 ] (Y2) Risk Awareness Awareness of debt risk, online fraud, impulsive spending [ 25 ] (Y3) Consumer Attitudes Resistance to trends, advertising, and peer pressure [ 26 ] (Y4) Financial Decision Making Delaying purchases, price comparisons, setting priorities [ 27 ] (Y5) Social Values Social behavior, family support, financial empathy [ 28 ] Source: Author's research Data Analysis The data analysis used is a structural equational model (SEM) with the requirement that factor loadings exceeding 0.70 are considered significant [ 29 ] [ 22 ]. The Cronbach's alpha value is considered strong if it is greater than 0.50. Convergent validity can be demonstrated if the average variance (AVE) value is greater than 0.50 [ 22 ]. Results Findings of Cangkal Cultural Values The financial behavior of the Banjar people in South Kalimantan is influenced by existing cultural norms and values. The concept of cangkal, adopted by the Banjar people, fosters a work ethic, driven by a spirit of hard work and a spiritual commitment to achieving maximum results. This shows that income is considered a consequence of sincere effort [ 30 ][ 31 ]. A personality trait that exists in society is that "extravagance is the root of poverty" which means that if we are extravagant it will end in poverty. This has the function that in financial behavior it must be accompanied by wisdom and caution [ 8 ] [ 32 ]. The Banjarese community's savings practices are not solely about money and wealth. They can also be linked to spiritual beliefs, such as saving for the afterlife, such as going on the Hajj pilgrimage to Mecca, or investing in gold, considered the most consistent form of savings. These practices reinforce the idea that financial literacy is also influenced by ethical, cultural, and practical dimensions [ 30 ] [ 33 ]. Wealth is not merely an individual achievement in life but demonstrates that it is a form of investment in social capital for sustainable development [ 32 ] [ 34 ]. These Cangkal cultural values are then used as a framework as a binding independent variable for improving students' financial literacy through the internalization of Cangkal cultural values in financial education, as visualized in Fig. 1 below. Figure 1 shows the cultural values of the Banjar community, including beliefs, sense of responsibility, and individual preferences. The Influence of Cangkal Values on Financial Literacy The results of the study show that the cultural values of Cangkal have an influence on financial literacy. Table 2 shows that there was a significant increase in financial planning, risk awareness, spending attitudes, and financial decision-making after integrating learning with the local “cangkal” culture. Table 2 Analysis of reliability and significance of financial literacy constructs and items based on cultural values. Variable Construct Indicator Code Factor Loadings a Probability Value Inflation Index Variance t-value Result Culturally-Based Financial Literacy (LF) KY NKK1 NKK2 P1 P2 0.908 0.947 0.871 0.961 0.908 0.886 0 0 0 0 0 1 1 1 1 1 Significant Significant Significant Significant Significant Simple Financial Planning (PKS) SPF1 SPF2 SPF3 0.944 0.967 0.976 0.960 0 0 0 1 1 1 113.104 Significant Significant Significant Financial Risk Awareness (FRA) FAR1 FAR2 FRC3 0.825 0.957 0.948 0.899 0 0 0 1 1 1 86.112 Significant Significant Significant Consumer Attitude (SK) CS1 CS2 CS3 0.854 0.903 0.777 0.802 0 0 0 1 1 1 86,874 Significant Significant Significant Financial Decision Making (FDM) PKF1 FDD2 FDD3 0.947 0.957 0.928 0.939 0 0 0 1 1 1 107,956 Significant Significant Significant Social Values in Financial Management (NSPK) NSPK1 NSPK2 NSPK3 0.904 0.967 0.924 0.924 0 0 0 1 1 1 82,440 Significant Significant Significant Source: Author's research (2025) Table 2 illustrates the results of a structural analysis that evaluates the reliability and significance of constructs related to financial literacy influenced by cultural values. The analytical results present data in the form of Cronbach's Alpha, P values, Variance Inflation Factors (VIF), and t-scores required as data strength. The loading factor obtained was 0.777 to 0.976, this indicates a strong correlation between the cultural values of Cangkal and financial literacy. Financial education in the family has an influence on financial literacy [ 35 ]. The Cronbach's Alpha values obtained ranged from 0.802 to 0.960. A coefficient above 0.7 indicates a strong measurement [ 36 ] [ 37 ] emphasizing that a high Cronbach's Alpha value indicates significant confidence in the reliability of the construct when the coefficient reaches a level such as 0.96. The p-value obtained shows results ≥ 0.05 with an indication that all items are significant in the sense that there is a complex relationship between the cultural values of the Cangkal and financial decision making [ 38 ]. The VIF value obtained was 1.000 for all items, indicating that no multicollinearity problems were found, which reinforces the uniqueness of the local cultural value variable [ 39 ], Furthermore, the calculated t-value, which far exceeds 1.96, ranging from 82,440 to 113,104, shows that there is a significant contribution from the value of cangkal culture to each indicator. The increase in financial literacy that occurred indicates that there is an influence of cangkal cultural values on the financial behavior of adolescents [ 40 ]. This influence shows that hard work, dedication and responsibility which are the core components of cangkal have an impact on individuals in financial matters which include financial planning and financial risk management to encourage wiser financial decision-making as shown in Figs. 2 and 3. Figure 2 shows the relationship between Cangkal cultural values and financial behavior in terms of simple financial planning, financial risk awareness, consumer attitudes, wise financial decision-making, and social values in financial management. Cultural values can shape a person's financial behavior [ 10 ] [ 8 ] [ 40 ]. The figure indicates that the path coefficients influence the direction of the independent and dependent variables. The financial literacy possessed will influence a person's financial behavior [ 41 ] [ 42 ]. The t valueresult between financial literacy and financial planning is 0.828. This condition shows that there is a strong influence. High financial literacy leads to better financial planning [ 43 ][ 44 ]. Financial risk awareness and spending attitudes reinforce the idea that cultural background and values shape higher financial risk awareness [ 45 ]. The t valueof 0.848 for the financial risk awareness indicator indicates that the Cangkal cultural values encourage a sense of responsibility and foresight, thereby increasing awareness of financial risks and, consequently, influencing wiser decision-making [ 46 ] [ 47 ]. Local culture linked to classroom learning activities can help improve financial management in the community and have implications for long-term financial well-being[ 48 ] [ 49 ]. Local cultural values in a community are a driving factor in designing financial literacy interventions [ 50 ] [ 8 ] [ 51 ]. Figure 3 presents the results of an internal model analysis that examines the influence of Cangkal (work ethic) and Bahimat (dedication) integration on the financial behavior of the Banjar community. The results of the analysis show that the cultural values of the Cangkal influence components in financial behavior. The Banjar community's diligence in carrying out activities, accompanied by responsibility and dedication, influences financial literacy. This is demonstrated by the high t value obtained (95.563; 135.227; and 185.418). Local cultural values in a community can shape individuals' thinking regarding financial matters [ 52 ]. Regarding financial risk awareness, Banjar people tend to be cautious in this regard. The t value results (31.781; 117.734; and 139.316) indicate a strong relationship between financial literacy and financial decision-making, making individuals more cautious in making decisions by considering various aspects. A person's financial literacy will influence how they make wiser financial decisions[ 53 ] [ 53 ]. The same applies to consumer attitudes when shopping. People who take into account the scale of priorities in economic decisions will avoid excessive waste [ 30 ]. The t value results, which show values (35.009; 65.157; and 32.640), are comparable to the theory because they show a strong influence. Wise financial decision-making is undoubtedly influenced by a high level of financial literacy, as demonstrated by the Banjar community's perspective of being more cautious in their decisions [ 54 ]. The social value indicator in financial management obtained a t-value of 93.571, 138.948, and 3.054, meaning that if α = 0.05 (t ≥ 1.96), there is a strong influence between social values and financial literacy. The community in carrying out financial practices is influenced by local cultural values and habits [ 55 ]. This work ethic demonstrates that financial management is an effort supported by social capital within the community. Discussions Values ​​that develop within a culture become part of behavioral patterns. For example, the work ethic emerging among Protestant groups in America is based on religious beliefs, morals, discipline, and hard work, influencing how people view work, money, and economic success. In this view, earning money is not merely a means of fulfilling economic activities but rather a moral and religious obligation [ 56 ]. Research has shown that integrating Cangkal culture into financial literacy education positively influences adolescents' financial behavior. These practices include financial planning, risk awareness, spending behavior, wise decision-making, and relevant sociocultural values. A person's financial behavior within a socio-cultural context will influence financial decision-making [ 23 ]. Even these financial-related issues need to be socialized within the immediate environment and family. Financial well-being is shaped by a community's cultural values ​​regarding financial behavior [ 57 ]. The Cangkal tradition in the Banjar community emphasizes hard work, accompanied by caution and responsibility. This attitude fosters a connection between local cultural values ​​and the development of knowledge, attitudes, and skills [ 57 ]. This provides input and improvements for financial education programs that are still conventionally based so that they do not only focus on cognitive knowledge but also link local cultural realities so that learning becomes more [ 58 ]. Conclusion In conclusion, this study provides new insights that the local culture of a society can influence financial literacy among adolescents. This influence can be provided through a learning process linked to local cultural values, for example in the Banjar community of Indonesia, namely the cangkal culture. This influence is demonstrated by the results of the study which show that the t value obtained is above α = 0.05 (t ≥ 1.96) namely the t value for the influence of cangkal values ​​on financial planning of 135.227; financial risk awareness 185.418; shopping attitudes 117.734; social values ​​139.316 and financial decision making 138.948. This research is expected to be developed more widely by integrating local cultures in other countries with financial literacy for a better sustainable economy. Declarations Clinical Trial Number Clinical trial number: not applicable. Ethics Statement This study was reviewed by the Ethics Committee of the Integrated Laboratory (Komite Etik Penelitian Kesehatan/KEPK), Universitas Lambung Mangkurat. Based on the nature of the study, which involved minimal risk, was conducted in an educational setting, and did not involve the collection of sensitive personal or clinical data, the ethics committee determined that formal ethical approval was not required. The study was therefore exempted from full ethical review in accordance with applicable institutional and national research ethics guidelines. Consent to Participate Written informed consent to participate in the study was obtained from the parents or legal guardians of all participating students prior to data collection. Participation was voluntary, and participants were informed about the purpose of the study, the procedures involved, and their right to withdraw at any time without any consequences. Consent to Publish Not applicable Funding This research was funded by BIMA DRPTM (2024) under the Doctoral Dissertation Research Scheme (Penelitian Disertasi Doktor), Contract Number 1034/UN8.2/PG/2024. Author Contribution RS, HP, and RC developed the research idea, conducted the research, and compiled the results. EWA reviewed the research and assisted with the research with MT. BMB prepared the statistical formulas used in the research. MT and RS calculated the statistical data. Acknowledgement Thank you to BIMA Kemendiktisaintek for providing a Dissertation Grant for the Doctoral Program and Social Science Education, University of Lambung Mangkurat Indonesia so that I can complete my dissertation as the final assignment of a doctoral student and compile this article as a form of dissertation output. Data Availability The datasets generated and analyzed during the current study are available from the corresponding author on reasonable request. References Asadi K, Yousefi Z, Mahdad A. The Role of Family in Shaping Financial Literacy and Economic Behavior. JPRFC. 2023;22–9. 10.61838/kman.jprfc.1.3.4 . Amagir A, Groot W, van den Brink HM, Wilschut A. A Review of Financial-Literacy Education Programs for Children and Adolescents. Citizsh Soc Econ Educ. 2017;17(1):56–80. 10.1177/2047173417719555 . Khawar S, Sarwar A. 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The Protestant ethic and the spirit of capitalism. Routledge; 2013. Heriyati P, Antonio L, Soliman M. Managing Financial Life: Examining the Factors Impacting the Financial Literacy of Indonesian Students Studying Abroad. J Indones Econ Bus. 2024;39(2):174–94. 10.22146/jieb.v39i2.6856 . Burcher SA, Serido J, Danes SM, Rudi JH, Shim S. Menggunakan Teori Harapan-Nilai untuk Memahami Perilaku Finansial dan Kesejahteraan Finansial Orang Dewasa Muda, Emerg. Adulthood, vol. 9, pp. 66–75, 2018, [Online]. Available: https://doi.org/10.1177/2167696818815387 Additional Declarations No competing interests reported. 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Also discoverable on Platform About Our Team In Review Editorial Policies Advisory Board Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-8622841","acceptedTermsAndConditions":true,"allowDirectSubmit":false,"archivedVersions":[],"articleType":"Research Article","associatedPublications":[],"authors":[{"id":593566279,"identity":"8c23c8fa-f86b-467f-8313-4e78ad1c4b1f","order_by":0,"name":"Raihanah Raihanah","email":"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAZAAAAAyAQMAAABI0h/eAAAABlBMVEX///8AAABVwtN+AAAACXBIWXMAAA7EAAAOxAGVKw4bAAAA9UlEQVRIiWNgGAWjYFACxjYQmQBmJ1QwyEBEDZiJ1XKGgYcILQxsCC1A7VAtDLi1mLcfbnvwc4ddHgP/4WcfHs47zKPbwPzwA0OBNU4tMmcS2w17zyQXM0ikGc9I3HaYx+wAm7EEg0E6Ti0SDIltErxtzIkNEgzGDBAtDGZAvxzGrYX/YZvk37b6xAb+458ZEueAtLB/w69FIrFNmrftcGIDQw7QlgaQFh4Ctkg8bJOWbTsOdF5OMUPCsXQes8M8xRIJ+PzCn/5M8m1bdWI///HNjD9qrOXMjrdv/PDhD+4QgwM2OAsUIwmENYyCUTAKRsEowAMAkmxMV8On11YAAAAASUVORK5CYII=","orcid":"","institution":"Lambung Mangkurat University","correspondingAuthor":true,"prefix":"","firstName":"Raihanah","middleName":"","lastName":"Raihanah","suffix":""},{"id":593566284,"identity":"f18d91d1-d27d-44c6-88de-f7539fc991c0","order_by":1,"name":"Herry Porda Nugroho Putro","email":"","orcid":"","institution":"Lambung Mangkurat University","correspondingAuthor":false,"prefix":"","firstName":"Herry","middleName":"Porda Nugroho","lastName":"Putro","suffix":""},{"id":593566290,"identity":"8f85de05-3ae0-4ce2-8620-4651d87b29eb","order_by":2,"name":"Ersis Warmansyah Abbas","email":"","orcid":"","institution":"Lambung Mangkurat University","correspondingAuthor":false,"prefix":"","firstName":"Ersis","middleName":"Warmansyah","lastName":"Abbas","suffix":""},{"id":593566296,"identity":"2b4fa5f0-d7e0-482b-bc79-c5e2408e1690","order_by":3,"name":"Rochgiyanti Rochgiyanti","email":"","orcid":"","institution":"Lambung Mangkurat University","correspondingAuthor":false,"prefix":"","firstName":"Rochgiyanti","middleName":"","lastName":"Rochgiyanti","suffix":""},{"id":593566301,"identity":"71f80111-3b70-4065-9681-b494ab3dd6fc","order_by":4,"name":"Bambang Subiyakto","email":"","orcid":"","institution":"Lambung Mangkurat University","correspondingAuthor":false,"prefix":"","firstName":"Bambang","middleName":"","lastName":"Subiyakto","suffix":""},{"id":593566306,"identity":"3185589a-97a9-4319-a89b-321bac9e2ebb","order_by":5,"name":"Mutiani Mutiani","email":"","orcid":"","institution":"Lambung Mangkurat University","correspondingAuthor":false,"prefix":"","firstName":"Mutiani","middleName":"","lastName":"Mutiani","suffix":""}],"badges":[],"createdAt":"2026-01-17 01:53:16","currentVersionCode":1,"declarations":"","doi":"10.21203/rs.3.rs-8622841/v1","doiUrl":"https://doi.org/10.21203/rs.3.rs-8622841/v1","draftVersion":[],"editorialEvents":[],"editorialNote":"","failedWorkflow":false,"files":[{"id":103021916,"identity":"1094a623-37b2-4c8c-95fd-4fca39c2fc78","added_by":"auto","created_at":"2026-02-19 18:22:53","extension":"png","order_by":1,"title":"Figure 1","display":"","copyAsset":false,"role":"figure","size":175444,"visible":true,"origin":"","legend":"\u003cp\u003eThe Value of Cangkal in the Financial Behavior of the Banjar People.\u003c/p\u003e\n\u003cp\u003eSource: Author's Research (2025)\u003c/p\u003e","description":"","filename":"floatimage1.png","url":"https://assets-eu.researchsquare.com/files/rs-8622841/v1/035b5c01f612c514cf82ca36.png"},{"id":103050239,"identity":"c93f6542-adc2-4bfc-9ba4-10bfdadecca1","added_by":"auto","created_at":"2026-02-20 07:48:55","extension":"png","order_by":2,"title":"Figure 2","display":"","copyAsset":false,"role":"figure","size":252595,"visible":true,"origin":"","legend":"\u003cp\u003eOuter Model Analysis of \"The Influence of Cangkal Cultural Values ​​of Banjar Society on Financial Literacy\".\u003c/p\u003e\n\u003cp\u003e(Source: Author's research results)\u003c/p\u003e","description":"","filename":"floatimage2.png","url":"https://assets-eu.researchsquare.com/files/rs-8622841/v1/4e5090815b708cceb39ea57e.png"},{"id":103021914,"identity":"98365a9a-dc49-4a23-b252-d3ccf3964aa1","added_by":"auto","created_at":"2026-02-19 18:22:53","extension":"png","order_by":3,"title":"Figure 3","display":"","copyAsset":false,"role":"figure","size":245167,"visible":true,"origin":"","legend":"\u003cp\u003eAnalysis of the results of the inner model of the influence of the integration of Cangkal cultural values ​​in Banjar society.\u003c/p\u003e\n\u003cp\u003e(Source: Author's research results, 2025)\u003c/p\u003e","description":"","filename":"floatimage3.png","url":"https://assets-eu.researchsquare.com/files/rs-8622841/v1/72684dda5af303d2b9817b9f.png"},{"id":103050795,"identity":"8d34dc24-019b-4d6f-b9c1-c4324d04ada6","added_by":"auto","created_at":"2026-02-20 07:55:28","extension":"pdf","order_by":0,"title":"","display":"","copyAsset":false,"role":"manuscript-pdf","size":1218331,"visible":true,"origin":"","legend":"","description":"","filename":"manuscript.pdf","url":"https://assets-eu.researchsquare.com/files/rs-8622841/v1/ddd29b85-ca81-49a3-991d-9324a9bbeb4b.pdf"}],"financialInterests":"No competing interests reported.","formattedTitle":"\u003cp\u003eAnalysis of the Effect of Cangkal Values on Adolescents' Financial Behavior\u003c/p\u003e","fulltext":[{"header":"Introduction","content":"\u003cp\u003eThe rapidly growing digital economy has led to the emergence of a variety of financial products. People are required to be able to use them, even though their knowledge and understanding are sometimes lacking. This demand requires people to be able to perform basic financial management, including financial planning, savings, and rational spending. The financial literacy rate of adolescents in Indonesia is 43.28%, still below the national target of 49.68% [\u003cspan citationid=\"CR1\" class=\"CitationRef\"\u003e1\u003c/span\u003e]. This gap certainly needs to be addressed. Low financial literacy can lead to problems such as inappropriate financial decisions and even an increase in victims of financial fraud [\u003cspan citationid=\"CR2\" class=\"CitationRef\"\u003e2\u003c/span\u003e]. The primary goal is financial education. Providing financial education as early as possible will help people develop good financial management habits. Furthermore, it can be instilled through daily habits, taking socio-cultural aspects into account. Financial behavior can be shaped through family, social, and cultural environments [\u003cspan citationid=\"CR3\" class=\"CitationRef\"\u003e3\u003c/span\u003e] [\u003cspan citationid=\"CR4\" class=\"CitationRef\"\u003e4\u003c/span\u003e] [\u003cspan citationid=\"CR1\" class=\"CitationRef\"\u003e1\u003c/span\u003e].\u003c/p\u003e \u003cp\u003eFinancial literacy does not emerge naturally in every person, but is acquired through the influence of various factors such as age, parenting style in the family, and even culture [\u003cspan citationid=\"CR2\" class=\"CitationRef\"\u003e2\u003c/span\u003e] [\u003cspan citationid=\"CR5\" class=\"CitationRef\"\u003e5\u003c/span\u003e]. Culture in this case can refer to habits, ideas, or values that exist in a particular community. Learning will be more active and meaningful when it is integrated with the local culture of the students and in line with global education trends that support holistic and integrated learning [\u003cspan citationid=\"CR6\" class=\"CitationRef\"\u003e6\u003c/span\u003e] [\u003cspan citationid=\"CR7\" class=\"CitationRef\"\u003e7\u003c/span\u003e].\u003c/p\u003e \u003cp\u003eFinancial education in Indonesia currently still lacks the optimal integration of students' local cultural backgrounds, especially in junior high school. Integrating local culture, however, can lead to more meaningful learning. Similarly, when financial education is conducted in schools, if it does not relate to the context of students' local cultural environment, financial behavior may not improve and may lead to problems such as poor financial planning, low risk awareness, unreasonable spending, and even irresponsible financial management [\u003cspan citationid=\"CR8\" class=\"CitationRef\"\u003e8\u003c/span\u003e] [\u003cspan citationid=\"CR9\" class=\"CitationRef\"\u003e9\u003c/span\u003e]. Therefore, in-depth learning is needed that integrates local cultural values ​​into the learning process to understand their impact on financial behavior. For example, consider the local culture of the Banjar people in Indonesia, such as cangkal. Cangkal is a spirit of doing something with the goal of maximum achievement, emphasizing the principles of hard work, responsibility, and perseverance. When linked to financial literacy, cangkal can encourage financial habits such as earning an income, rational spending, saving, and a sense of solidarity in sharing [\u003cspan citationid=\"CR10\" class=\"CitationRef\"\u003e10\u003c/span\u003e] [\u003cspan citationid=\"CR11\" class=\"CitationRef\"\u003e11\u003c/span\u003e].\u003c/p\u003e \u003cp\u003eIf local cultural values are reflected in the curriculum, then based on educational theory, students will be actively involved and their understanding will improve, especially when linked to financial socialization theory, students' understanding of financial concepts will also improve [\u003cspan citationid=\"CR12\" class=\"CitationRef\"\u003e12\u003c/span\u003e] [\u003cspan citationid=\"CR13\" class=\"CitationRef\"\u003e13\u003c/span\u003e] [\u003cspan citationid=\"CR14\" class=\"CitationRef\"\u003e14\u003c/span\u003e] [\u003cspan citationid=\"CR15\" class=\"CitationRef\"\u003e15\u003c/span\u003e]. In addition, the integration of local culture in learning can also encourage retention and application of financial knowledge and student confidence [\u003cspan citationid=\"CR16\" class=\"CitationRef\"\u003e16\u003c/span\u003e] [\u003cspan citationid=\"CR17\" class=\"CitationRef\"\u003e17\u003c/span\u003e] [\u003cspan citationid=\"CR18\" class=\"CitationRef\"\u003e18\u003c/span\u003e]. This certainly has an impact on the maturation of students in financial competence [\u003cspan citationid=\"CR11\" class=\"CitationRef\"\u003e11\u003c/span\u003e].\u003c/p\u003e \u003cp\u003eMastery of knowledge and changes in attitude have created a gap because they do not discuss in depth the impact on financial behavior, risk calculation, and efficient spending attitudes. Therefore, it is necessary to examine the behavioral results of financial literacy education from a cultural perspective, such as demographic aspects [\u003cspan citationid=\"CR19\" class=\"CitationRef\"\u003e19\u003c/span\u003e] [\u003cspan citationid=\"CR20\" class=\"CitationRef\"\u003e20\u003c/span\u003e]. Financial education linked to students' local culture has not been optimally implemented, even though linking it provides an opportunity to explore the role of cultural frameworks in improving financial decision-making [\u003cspan citationid=\"CR21\" class=\"CitationRef\"\u003e21\u003c/span\u003e][\u003cspan citationid=\"CR21\" class=\"CitationRef\"\u003e21\u003c/span\u003e]. This study aims to analyze the influence of cultural values ​​on financial literacy, including planning, risk awareness, spending attitudes, financial decision-making, and social values ​​in financial management. The objective of this study targets five financial aspects through the integration of cultural values, namely: (1) financial planning, (2) risk awareness, (3) consumer attitudes, (4) financial decision-making, and (5) social values in financial management.\u003c/p\u003e"},{"header":"Materials and Methods","content":"\u003cdiv id=\"Sec3\" class=\"Section2\"\u003e \u003ch2\u003eResearch Design\u003c/h2\u003e \u003cp\u003eThis study uses a quantitative method by testing the influence of local cultural values ​​of cangkal on financial planning, financial risk awareness, shopping attitudes, financial decision making and social values ​​of financial management using statistical analysis of Structural Equation Modeling Partial Least Squares (SEM-PLS) [\u003cspan citationid=\"CR22\" class=\"CitationRef\"\u003e22\u003c/span\u003e] [\u003cspan citationid=\"CR22\" class=\"CitationRef\"\u003e22\u003c/span\u003e].\u003c/p\u003e \u003cp\u003eThis study involved junior high schools with A accreditation in Banjarmasin City and Barito Kuala Regency with a sample of 491 students from class VII. The research sample data is as follows: SMPN 1 Marabahan 51 students; SMPN 1 Tamban 65 students; SMPN 4 Alalak 63 students; SMPN 14 Banjarmasin 60 students; SMPN 27 Banjarmasin 59 students; SMPN 6 Banjarmasin 66 students; SMPN 19 Banjarmasin 69 students; and SMPN 33 Banjarmasin 58 students.\u003c/p\u003e \u003c/div\u003e\n\u003ch3\u003eResearch Instrument\u003c/h3\u003e\n\u003cp\u003eThe instrument used in this study was a observation, questionnaire and documentation. Before distribution, the questionnaire was pre-tested by experts in the field, consisting of seven junior high school social studies teachers and lecturers. The validation threshold for the assessment categories was above 0.82. The questionnaire measured the following variables and their respective indicators:\u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab1\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 1\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003eResearch Variables and Indicators\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"2\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\"\u003e \u003cp\u003eVariable\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eMain Indicators\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003e(X) Integration of \u003cem\u003eCangkal\u003c/em\u003e Cultural Values\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003e's belief system, work ethic, and financial preferences\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003e(Y1) Financial Planning\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eBudgeting, expense tracking, allowance allocation [\u003cspan citationid=\"CR24\" class=\"CitationRef\"\u003e24\u003c/span\u003e]\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003e(Y2) Risk Awareness\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eAwareness of debt risk, online fraud, impulsive spending [\u003cspan citationid=\"CR25\" class=\"CitationRef\"\u003e25\u003c/span\u003e]\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003e(Y3) Consumer Attitudes\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eResistance to trends, advertising, and peer pressure [\u003cspan citationid=\"CR26\" class=\"CitationRef\"\u003e26\u003c/span\u003e]\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003e(Y4) Financial Decision Making\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eDelaying purchases, price comparisons, setting priorities [\u003cspan citationid=\"CR27\" class=\"CitationRef\"\u003e27\u003c/span\u003e]\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003e(Y5) Social Values\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eSocial behavior, family support, financial empathy [\u003cspan citationid=\"CR28\" class=\"CitationRef\"\u003e28\u003c/span\u003e]\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003ctfoot\u003e \u003ctr\u003e\u003ctd colspan=\"2\"\u003eSource: Author's research\u003c/td\u003e\u003c/tr\u003e \u003c/tfoot\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cdiv id=\"Sec5\" class=\"Section2\"\u003e \u003ch2\u003eData Analysis\u003c/h2\u003e \u003cp\u003eThe data analysis used is a structural equational model (SEM) with the requirement that factor loadings exceeding 0.70 are considered significant [\u003cspan citationid=\"CR29\" class=\"CitationRef\"\u003e29\u003c/span\u003e] [\u003cspan citationid=\"CR22\" class=\"CitationRef\"\u003e22\u003c/span\u003e]. The Cronbach's alpha value is considered strong if it is greater than 0.50. Convergent validity can be demonstrated if the average variance (AVE) value is greater than 0.50 [\u003cspan citationid=\"CR22\" class=\"CitationRef\"\u003e22\u003c/span\u003e].\u003c/p\u003e \u003c/div\u003e"},{"header":"Results","content":"\u003cdiv id=\"Sec7\" class=\"Section2\"\u003e\n \u003ch2\u003eFindings of Cangkal Cultural Values\u003c/h2\u003e\n \u003cp\u003eThe financial behavior of the Banjar people in South Kalimantan is influenced by existing cultural norms and values. The concept of cangkal, adopted by the Banjar people, fosters a work ethic, driven by a spirit of hard work and a spiritual commitment to achieving maximum results. This shows that income is considered a consequence of sincere effort [\u003cspan class=\"CitationRef\"\u003e30\u003c/span\u003e][\u003cspan class=\"CitationRef\"\u003e31\u003c/span\u003e]. A personality trait that exists in society is that \u0026quot;extravagance is the root of poverty\u0026quot; which means that if we are extravagant it will end in poverty. This has the function that in financial behavior it must be accompanied by wisdom and caution [\u003cspan class=\"CitationRef\"\u003e8\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e32\u003c/span\u003e].\u003c/p\u003e\n \u003cp\u003eThe Banjarese community\u0026apos;s savings practices are not solely about money and wealth. They can also be linked to spiritual beliefs, such as saving for the afterlife, such as going on the Hajj pilgrimage to Mecca, or investing in gold, considered the most consistent form of savings. These practices reinforce the idea that financial literacy is also influenced by ethical, cultural, and practical dimensions [\u003cspan class=\"CitationRef\"\u003e30\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e33\u003c/span\u003e]. Wealth is not merely an individual achievement in life but demonstrates that it is a form of investment in social capital for sustainable development [\u003cspan class=\"CitationRef\"\u003e32\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e34\u003c/span\u003e].\u003c/p\u003e\n \u003cp\u003eThese Cangkal cultural values are then used as a framework as a binding independent variable for improving students\u0026apos; financial literacy through the internalization of Cangkal cultural values in financial education, as visualized in Fig. 1 below.\u003c/p\u003e\n \u003cp\u003eFigure 1 shows the cultural values of the Banjar community, including beliefs, sense of responsibility, and individual preferences.\u003c/p\u003e\n\u003c/div\u003e\n\u003cdiv id=\"Sec8\" class=\"Section2\"\u003e\n \u003ch2\u003eThe Influence of Cangkal Values on Financial Literacy\u003c/h2\u003e\n \u003cp\u003eThe results of the study show that the cultural values of Cangkal have an influence on financial literacy. Table\u0026nbsp;\u003cspan class=\"InternalRef\"\u003e2\u003c/span\u003e shows that there was a significant increase in financial planning, risk awareness, spending attitudes, and financial decision-making after integrating learning with the local \u0026ldquo;cangkal\u0026rdquo; culture.\u003c/p\u003e\n \u003cdiv class=\"gridtable\"\u003e\u0026nbsp;\u003ctable id=\"Tab2\" border=\"1\"\u003e\n \u003ccaption language=\"En\"\u003e\n \u003cdiv class=\"CaptionNumber\"\u003eTable 2\u003c/div\u003e\n \u003cdiv class=\"CaptionContent\"\u003e\n \u003cp\u003eAnalysis of reliability and significance of financial literacy constructs and items based on cultural values.\u003c/p\u003e\n \u003c/div\u003e\n \u003c/caption\u003e\n \u003ccolgroup cols=\"8\"\u003e\u003c/colgroup\u003e\n \u003cthead\u003e\n \u003ctr\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eVariable Construct\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eIndicator Code\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eFactor Loadings\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003ea\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eProbability Value\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eInflation Index Variance\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003et-value\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eResult\u003c/p\u003e\n \u003c/th\u003e\n \u003c/tr\u003e\n \u003c/thead\u003e\n \u003ctbody\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eCulturally-Based Financial Literacy (LF)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eKY\u003c/p\u003e\n \u003cp\u003eNKK1\u003c/p\u003e\n \u003cp\u003eNKK2\u003c/p\u003e\n \u003cp\u003eP1\u003c/p\u003e\n \u003cp\u003eP2\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e0.908\u003c/p\u003e\n \u003cp\u003e0.947\u003c/p\u003e\n \u003cp\u003e0.871\u003c/p\u003e\n \u003cp\u003e0.961\u003c/p\u003e\n \u003cp\u003e0.908\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0.886\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\u0026nbsp;\u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eSimple Financial Planning (PKS)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eSPF1\u003c/p\u003e\n \u003cp\u003eSPF2\u003c/p\u003e\n \u003cp\u003eSPF3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e0.944\u003c/p\u003e\n \u003cp\u003e0.967\u003c/p\u003e\n \u003cp\u003e0.976\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0.960\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e113.104\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eFinancial Risk Awareness (FRA)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eFAR1\u003c/p\u003e\n \u003cp\u003eFAR2\u003c/p\u003e\n \u003cp\u003eFRC3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e0.825\u003c/p\u003e\n \u003cp\u003e0.957\u003c/p\u003e\n \u003cp\u003e0.948\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0.899\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e86.112\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eConsumer Attitude (SK)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eCS1\u003c/p\u003e\n \u003cp\u003eCS2\u003c/p\u003e\n \u003cp\u003eCS3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e0.854\u003c/p\u003e\n \u003cp\u003e0.903\u003c/p\u003e\n \u003cp\u003e0.777\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0.802\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e86,874\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eFinancial Decision Making (FDM)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003ePKF1\u003c/p\u003e\n \u003cp\u003eFDD2\u003c/p\u003e\n \u003cp\u003eFDD3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e0.947\u003c/p\u003e\n \u003cp\u003e0.957\u003c/p\u003e\n \u003cp\u003e0.928\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0.939\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e107,956\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eSocial Values in Financial Management (NSPK)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eNSPK1\u003c/p\u003e\n \u003cp\u003eNSPK2\u003c/p\u003e\n \u003cp\u003eNSPK3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e0.904\u003c/p\u003e\n \u003cp\u003e0.967\u003c/p\u003e\n \u003cp\u003e0.924\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0.924\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"char\"\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e82,440\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003cp\u003eSignificant\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tbody\u003e\n \u003ctfoot\u003e\n \u003ctr\u003e\n \u003ctd colspan=\"8\"\u003eSource: Author\u0026apos;s research (2025)\u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tfoot\u003e\n \u003c/table\u003e\n \u003c/div\u003e\n \u003cp\u003eTable \u003cspan class=\"InternalRef\"\u003e2\u003c/span\u003e illustrates the results of a structural analysis that evaluates the reliability and significance of constructs related to financial literacy influenced by cultural values. The analytical results present data in the form of Cronbach\u0026apos;s Alpha, P values, Variance Inflation Factors (VIF), and t-scores required as data strength. The loading factor obtained was 0.777 to 0.976, this indicates a strong correlation between the cultural values of Cangkal and financial literacy. Financial education in the family has an influence on financial literacy [\u003cspan class=\"CitationRef\"\u003e35\u003c/span\u003e].\u003c/p\u003e\n \u003cp\u003eThe Cronbach\u0026apos;s Alpha values obtained ranged from 0.802 to 0.960. A coefficient above 0.7 indicates a strong measurement [\u003cspan class=\"CitationRef\"\u003e36\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e37\u003c/span\u003e] emphasizing that a high Cronbach\u0026apos;s Alpha value indicates significant confidence in the reliability of the construct when the coefficient reaches a level such as 0.96. The p-value obtained shows results\u0026thinsp;\u0026ge;\u0026thinsp;0.05 with an indication that all items are significant in the sense that there is a complex relationship between the cultural values of the Cangkal and financial decision making [\u003cspan class=\"CitationRef\"\u003e38\u003c/span\u003e].\u003c/p\u003e\n \u003cp\u003eThe VIF value obtained was 1.000 for all items, indicating that no multicollinearity problems were found, which reinforces the uniqueness of the local cultural value variable [\u003cspan class=\"CitationRef\"\u003e39\u003c/span\u003e], Furthermore, the calculated t-value, which far exceeds 1.96, ranging from 82,440 to 113,104, shows that there is a significant contribution from the value of cangkal culture to each indicator. The increase in financial literacy that occurred indicates that there is an influence of cangkal cultural values on the financial behavior of adolescents [\u003cspan class=\"CitationRef\"\u003e40\u003c/span\u003e]. This influence shows that hard work, dedication and responsibility which are the core components of cangkal have an impact on individuals in financial matters which include financial planning and financial risk management to encourage wiser financial decision-making as shown in Figs. \u003cspan class=\"InternalRef\"\u003e2\u003c/span\u003e and 3.\u003c/p\u003e\n \u003cp\u003eFigure \u003cspan class=\"InternalRef\"\u003e2\u003c/span\u003e shows the relationship between Cangkal cultural values and financial behavior in terms of simple financial planning, financial risk awareness, consumer attitudes, wise financial decision-making, and social values in financial management. Cultural values can shape a person\u0026apos;s financial behavior [\u003cspan class=\"CitationRef\"\u003e10\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e8\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e40\u003c/span\u003e]. The figure indicates that the path coefficients influence the direction of the independent and dependent variables. The financial literacy possessed will influence a person\u0026apos;s financial behavior [\u003cspan class=\"CitationRef\"\u003e41\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e42\u003c/span\u003e].\u003c/p\u003e\n \u003cp\u003eThe t valueresult between financial literacy and financial planning is 0.828. This condition shows that there is a strong influence. High financial literacy leads to better financial planning [\u003cspan class=\"CitationRef\"\u003e43\u003c/span\u003e][\u003cspan class=\"CitationRef\"\u003e44\u003c/span\u003e]. Financial risk awareness and spending attitudes reinforce the idea that cultural background and values shape higher financial risk awareness [\u003cspan class=\"CitationRef\"\u003e45\u003c/span\u003e].\u003c/p\u003e\n \u003cp\u003eThe t valueof 0.848 for the financial risk awareness indicator indicates that the Cangkal cultural values encourage a sense of responsibility and foresight, thereby increasing awareness of financial risks and, consequently, influencing wiser decision-making [\u003cspan class=\"CitationRef\"\u003e46\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e47\u003c/span\u003e]. Local culture linked to classroom learning activities can help improve financial management in the community and have implications for long-term financial well-being[\u003cspan class=\"CitationRef\"\u003e48\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e49\u003c/span\u003e]. Local cultural values in a community are a driving factor in designing financial literacy interventions [\u003cspan class=\"CitationRef\"\u003e50\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e8\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e51\u003c/span\u003e].\u003c/p\u003e\n \u003cp\u003eFigure 3 presents the results of an internal model analysis that examines the influence of Cangkal (work ethic) and Bahimat (dedication) integration on the financial behavior of the Banjar community. The results of the analysis show that the cultural values of the Cangkal influence components in financial behavior. The Banjar community\u0026apos;s diligence in carrying out activities, accompanied by responsibility and dedication, influences financial literacy. This is demonstrated by the high t value obtained (95.563; 135.227; and 185.418). Local cultural values in a community can shape individuals\u0026apos; thinking regarding financial matters [\u003cspan class=\"CitationRef\"\u003e52\u003c/span\u003e].\u003c/p\u003e\n \u003cp\u003eRegarding financial risk awareness, Banjar people tend to be cautious in this regard. The t value results (31.781; 117.734; and 139.316) indicate a strong relationship between financial literacy and financial decision-making, making individuals more cautious in making decisions by considering various aspects. A person\u0026apos;s financial literacy will influence how they make wiser financial decisions[\u003cspan class=\"CitationRef\"\u003e53\u003c/span\u003e] [\u003cspan class=\"CitationRef\"\u003e53\u003c/span\u003e]. The same applies to consumer attitudes when shopping. People who take into account the scale of priorities in economic decisions will avoid excessive waste [\u003cspan class=\"CitationRef\"\u003e30\u003c/span\u003e]. The t value results, which show values (35.009; 65.157; and 32.640), are comparable to the theory because they show a strong influence. Wise financial decision-making is undoubtedly influenced by a high level of financial literacy, as demonstrated by the Banjar community\u0026apos;s perspective of being more cautious in their decisions [\u003cspan class=\"CitationRef\"\u003e54\u003c/span\u003e].\u003c/p\u003e\n \u003cp\u003eThe social value indicator in financial management obtained a t-value of 93.571, 138.948, and 3.054, meaning that if \u0026alpha;\u0026thinsp;=\u0026thinsp;0.05 (t\u0026thinsp;\u0026ge;\u0026thinsp;1.96), there is a strong influence between social values and financial literacy. The community in carrying out financial practices is influenced by local cultural values and habits [\u003cspan class=\"CitationRef\"\u003e55\u003c/span\u003e]. This work ethic demonstrates that financial management is an effort supported by social capital within the community.\u003c/p\u003e\n\u003c/div\u003e"},{"header":"Discussions","content":"\u003cp\u003eValues ​​that develop within a culture become part of behavioral patterns. For example, the work ethic emerging among Protestant groups in America is based on religious beliefs, morals, discipline, and hard work, influencing how people view work, money, and economic success. In this view, earning money is not merely a means of fulfilling economic activities but rather a moral and religious obligation [\u003cspan citationid=\"CR56\" class=\"CitationRef\"\u003e56\u003c/span\u003e]. Research has shown that integrating Cangkal culture into financial literacy education positively influences adolescents' financial behavior. These practices include financial planning, risk awareness, spending behavior, wise decision-making, and relevant sociocultural values. A person's financial behavior within a socio-cultural context will influence financial decision-making [\u003cspan citationid=\"CR23\" class=\"CitationRef\"\u003e23\u003c/span\u003e]. Even these financial-related issues need to be socialized within the immediate environment and family.\u003c/p\u003e \u003cp\u003eFinancial well-being is shaped by a community's cultural values ​​regarding financial behavior [\u003cspan citationid=\"CR57\" class=\"CitationRef\"\u003e57\u003c/span\u003e]. The Cangkal tradition in the Banjar community emphasizes hard work, accompanied by caution and responsibility. This attitude fosters a connection between local cultural values ​​and the development of knowledge, attitudes, and skills [\u003cspan citationid=\"CR57\" class=\"CitationRef\"\u003e57\u003c/span\u003e]. This provides input and improvements for financial education programs that are still conventionally based so that they do not only focus on cognitive knowledge but also link local cultural realities so that learning becomes more [\u003cspan citationid=\"CR58\" class=\"CitationRef\"\u003e58\u003c/span\u003e].\u003c/p\u003e"},{"header":"Conclusion","content":"\u003cp\u003eIn conclusion, this study provides new insights that the local culture of a society can influence financial literacy among adolescents. This influence can be provided through a learning process linked to local cultural values, for example in the Banjar community of Indonesia, namely the cangkal culture. This influence is demonstrated by the results of the study which show that the t value obtained is above α\u0026thinsp;=\u0026thinsp;0.05 (t\u0026thinsp;\u0026ge;\u0026thinsp;1.96) namely the t value for the influence of cangkal values ​​on financial planning of 135.227; financial risk awareness 185.418; shopping attitudes 117.734; social values ​​139.316 and financial decision making 138.948. This research is expected to be developed more widely by integrating local cultures in other countries with financial literacy for a better sustainable economy.\u003c/p\u003e"},{"header":"Declarations","content":"\u003ch2\u003eClinical Trial Number\u003c/h2\u003e\n\u003cp\u003eClinical trial number: not applicable.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eEthics Statement\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThis study was reviewed by the Ethics Committee of the Integrated Laboratory (Komite Etik Penelitian Kesehatan/KEPK), Universitas Lambung Mangkurat. Based on the nature of the study, which involved minimal risk, was conducted in an educational setting, and did not involve the collection of sensitive personal or clinical data, the ethics committee determined that formal ethical approval was not required. The study was therefore exempted from full ethical review in accordance with applicable institutional and national research ethics guidelines.\u003c/p\u003e\n\u003ch2\u003eConsent to Participate\u003c/h2\u003e\n\u003cp\u003eWritten informed consent to participate in the study was obtained from the parents or legal guardians of all participating students prior to data collection. Participation was voluntary, and participants were informed about the purpose of the study, the procedures involved, and their right to withdraw at any time without any consequences.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eConsent to Publish\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eNot applicable\u003c/p\u003e\n\u003ch2\u003eFunding\u003c/h2\u003e\n\u003cp\u003eThis research was funded by BIMA DRPTM (2024) under the Doctoral Dissertation Research Scheme (Penelitian Disertasi Doktor), Contract Number 1034/UN8.2/PG/2024.\u003c/p\u003e\n\u003ch2\u003eAuthor Contribution\u003c/h2\u003e\n\u003cp\u003eRS, HP, and RC developed the research idea, conducted the research, and compiled the results. EWA reviewed the research and assisted with the research with MT. BMB prepared the statistical formulas used in the research. MT and RS calculated the statistical data.\u003c/p\u003e\n\u003ch2\u003eAcknowledgement\u003c/h2\u003e\n\u003cp\u003eThank you to BIMA Kemendiktisaintek for providing a Dissertation Grant for the Doctoral Program and Social Science Education, University of Lambung Mangkurat Indonesia so that I can complete my dissertation as the final assignment of a doctoral student and compile this article as a form of dissertation output.\u003c/p\u003e\n\u003ch2\u003eData Availability\u003c/h2\u003e\n\u003cp\u003eThe datasets generated and analyzed during the current study are available from the corresponding author on reasonable request.\u003c/p\u003e"},{"header":"References","content":"\u003col\u003e\u003cli\u003e\u003cspan\u003eAsadi K, Yousefi Z, Mahdad A. The Role of Family in Shaping Financial Literacy and Economic Behavior. 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Available: \u003cspan class=\"ExternalRef\"\u003e\u003cspan class=\"RefSource\"\u003ehttps://doi.org/10.1177/2167696818815387\u003c/span\u003e\u003cspan address=\"10.1177/2167696818815387\" targettype=\"DOI\" class=\"RefTarget\"\u003e\u003c/span\u003e\u003c/span\u003e\u003c/span\u003e\u003c/li\u003e\u003c/ol\u003e"}],"fulltextSource":"","fullText":"","funders":[],"hasAdminPriorityOnWorkflow":false,"hasManuscriptDocX":true,"hasOptedInToPreprint":true,"hasPassedJournalQc":"","hasAnyPriority":false,"hideJournal":false,"highlight":"","institution":"","isAcceptedByJournal":false,"isAuthorSuppliedPdf":false,"isDeskRejected":"","isHiddenFromSearch":false,"isInQc":false,"isInWorkflow":false,"isPdf":false,"isPdfUpToDate":true,"isWithdrawnOrRetracted":false,"journal":{"display":true,"email":"[email protected]","identity":"discover-education","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":false,"externalIdentity":"diedu","sideBox":"Learn more about [Discover Education](https://www.springer.com/journal/44217)","snPcode":"44217","submissionUrl":"https://submission.nature.com/new-submission/44217/3","title":"Discover Education","twitterHandle":"","acdcEnabled":true,"dfaEnabled":true,"editorialSystem":"stoa","reportingPortfolio":"Discover Series","inReviewEnabled":true,"inReviewRevisionsEnabled":true},"keywords":"financial literacy, cultural values, cangkal","lastPublishedDoi":"10.21203/rs.3.rs-8622841/v1","lastPublishedDoiUrl":"https://doi.org/10.21203/rs.3.rs-8622841/v1","license":{"name":"CC BY 4.0","url":"https://creativecommons.org/licenses/by/4.0/"},"manuscriptAbstract":"\u003cp\u003eThe emergence of various financial products has simplified financial activities, but also resulted in increasing complexity of financial problems. Lack of adequate knowledge creates a gap between financial literacy and financial inclusion, which leads to increased fraud and even online loan traps. The purpose of this study is to analyze the influence of local Cangkal cultural values ​​on financial planning, risk awareness, spending attitudes, decision making, and social values ​​in financial management. This study uses quantitative analysis using (SEM-PLS) to obtain the effect of the integration of Cangkal cultural values ​​on financial literacy. This study was conducted in junior high schools in Banjarmasin City and Barito Kuala Regency with a sample of 491 students in grade VII. The results of the study indicate the influence of local culture in improving financial literacy. This influence is indicated by a t value above (t\u0026thinsp;\u0026ge;\u0026thinsp;1.96) namely the t value for financial planning is 135.227; financial risk awareness is 185.418; the shopping attitude score for the item is 117.734; the social value score is 139.316; and the financial decision-making score was 138.948. Cronbach's alpha results showed values ​​ranging from 0.802 to 0.960, indicating that all items were consistent. Validity results were seen from the loading factor of 0.777 to 0.976, indicating that all items were correlated with each other. This study suggests that local culture can influence adolescents' financial behavior.\u003c/p\u003e","manuscriptTitle":"Analysis of the Effect of Cangkal Values on Adolescents' Financial Behavior","msid":"","msnumber":"","nonDraftVersions":[{"code":1,"date":"2026-02-19 18:22:48","doi":"10.21203/rs.3.rs-8622841/v1","editorialEvents":[{"type":"communityComments","content":0},{"type":"decision","content":"Revision requested","date":"2026-03-10T13:02:43+00:00","index":"","fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-03-06T06:38:37+00:00","index":"hide","fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-02-28T15:34:06+00:00","index":"hide","fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-02-28T08:51:38+00:00","index":"hide","fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-02-26T02:12:07+00:00","index":"hide","fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-02-25T07:02:37+00:00","index":"hide","fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-02-23T12:03:14+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"40286333574401284232545914662566207411","date":"2026-02-22T14:05:50+00:00","index":"hide","fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-02-21T10:07:30+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"184448025770189164850172918078976071204","date":"2026-02-19T13:12:00+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"164768668403730643997366224942711018760","date":"2026-02-19T08:32:08+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"110005197676337139529002815720556515134","date":"2026-02-19T08:23:46+00:00","index":"hide","fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-02-18T22:37:43+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"280661817431195951374367316556444278600","date":"2026-02-18T13:56:03+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"271761436702618398807724842999566391915","date":"2026-02-18T04:13:08+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"269665443869432963775429543142287904275","date":"2026-02-17T22:52:20+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"150044753188805175060028942397323922787","date":"2026-02-17T12:32:19+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"289056996799160248883177884483555012400","date":"2026-02-17T08:28:21+00:00","index":"hide","fulltext":""},{"type":"reviewersInvited","content":"","date":"2026-02-17T08:10:49+00:00","index":"","fulltext":""},{"type":"editorInvited","content":"","date":"2026-01-30T20:25:24+00:00","index":"","fulltext":""},{"type":"editorAssigned","content":"","date":"2026-01-29T16:40:12+00:00","index":"","fulltext":""},{"type":"checksComplete","content":"","date":"2026-01-28T01:36:44+00:00","index":"","fulltext":""},{"type":"submitted","content":"Discover Education","date":"2026-01-28T01:31:25+00:00","index":"","fulltext":""}],"status":"published","journal":{"display":true,"email":"[email protected]","identity":"discover-education","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":false,"externalIdentity":"diedu","sideBox":"Learn more about [Discover Education](https://www.springer.com/journal/44217)","snPcode":"44217","submissionUrl":"https://submission.nature.com/new-submission/44217/3","title":"Discover Education","twitterHandle":"","acdcEnabled":true,"dfaEnabled":true,"editorialSystem":"stoa","reportingPortfolio":"Discover Series","inReviewEnabled":true,"inReviewRevisionsEnabled":true}}],"origin":"","ownerIdentity":"217bfb04-0d59-4f80-a1ca-211e7d10b9e0","owner":[],"postedDate":"February 19th, 2026","published":true,"recentEditorialEvents":[],"rejectedJournal":[],"revision":"","amendment":"","status":"under-review","subjectAreas":[],"tags":[],"updatedAt":"2026-05-14T08:23:41+00:00","versionOfRecord":[],"versionCreatedAt":"2026-02-19 18:22:48","video":"","vorDoi":"","vorDoiUrl":"","workflowStages":[]},"version":"v1","identity":"rs-8622841","journalConfig":"researchsquare"},"__N_SSP":true},"page":"/article/[identity]/[[...version]]","query":{"redirect":"/article/rs-8622841","identity":"rs-8622841","version":["v1"]},"buildId":"XKTyCvWXoU3ODBz1xrDgd","isFallback":false,"isExperimentalCompile":false,"dynamicIds":[84888],"gssp":true,"scriptLoader":[]}