THE ROLE OF SELF-EFFICACY, INTRINSIC MOTIVATION, AND FINANCIAL LITERACY IN SHAPING ECONOMIC BEHAVIOR: AN EDUCATIONAL PSYCHOLOGY PERSPECTIVE

Abstract

This study aims to analyze the role of self-efficacy, intrinsic motivation, and financial literacy in shaping individual economic behavior through an educational psychology perspective. Wise economic behavior, such as the ability to save, manage a budget, and plan investments, is determined not only by external factors such as income or access to financial services, but also by internal factors formed through the learning process. Using a systematic literature review approach, this article examines how these three psychological variables interact and contribute to economic decision-making. The results of the study indicate that self-efficacy, or an individual's belief in their ability to manage their finances, plays a key role in facing economic challenges. Intrinsic motivation encourages individuals to voluntarily seek knowledge and adopt positive financial behaviors without relying on external pressures. Meanwhile, financial literacy acquired through formal and non-formal education provides the technical knowledge necessary for rational decision-making. An educational psychology perspective confirms that these three elements can be developed through appropriate learning design, such as mastery experiences, positive reinforcement, and the integration of financial materials into the curriculum. The implications of these findings indicate the need for a holistic approach to economic education that not only transfers knowledge but also builds students' confidence and motivation to shape responsible and sustainable economic behavior in the future.