The Effect of Pocket Money, Peers and Self-Control on Financial Management on Treasure Fans In Karawang

ABSTRACT


INTRODUCTION
Advances in technology, information is very easy to obtain.One of them is the entry of Korean culture.The variety of Korean culture that enters Indonesia includes music, cuisine, drama series and others.This phenomenon does not only occur in Indonesia but in every corner of the world.It is called Hallyu or Korean Wave [1].Among the many varieties of Korean culture that are quite in demand by Indonesian people today is K-Pop, of the maturation stage, where it is expected that K-pop fans can control their needs according to their lives and show a level of maturity in self-control.In Karawang, there is a large community of K-pop fans.This can be seen from the many activities carried out.Some of the activities carried out include organizing [4] dance cover events, celebrating idols' birthdays at restaurants, as well as gathering people to watch movies starring idols.[6] So in supporting his idols, fans of various things, such as streaming music videos and listening to songs on digital platforms, just with a mobile quota that does not need to spend too much.But there are also fans willing to spend money, namely by buying official merchandise, watching live concerts, subscribing to an application (Lysn, Weverse and Bubble) to get closer to idols and others.
Treasure as one of the popular K-pop music groups, has a very dedicated and committed fanbase.This was marked by their music album REBOOT managed to sell over one million copies of the album for the first time in Treasure's three-year career.Treasure fans often engage in activities related to the group, including purchasing [7] merchandise, concert tickets, and various other forms of support.As such, it's important to understand how factors like pocket money, peer influence, and self-control can affect how Treasure fans manage their finances.

Picture 2 Pre-Research Results
Source: Author, 2023 Pre-research was conducted on 20 Treasure fans in Karawang as much as 65%, they still get pocket money regularly from their parents.This is because Treasure fans are still in school and college have no income.As many as 85%, Treasure fans use the allowance given wisely and well, but as many as 50% are still influenced by friends in financial management without discussion.Treasure fans always consider the benefits of an item when making a purchase and 75% are able to overcome the temptation to make impulse purchases but only 40% set a budget for shopping needs.For that as much as 65%, Treasure fans save when needs are met.
There are many previous studies that make the Effect of Pocket Money, Peers and Self-Control on Financial Management as the object of research, such as the research conducted by in the title of the study "The Effect of Pocket Money and Family Financial Education on Personal Financial Management through Financial Literacy as an Intervening", obtaining the result that pocket money directly affects the personal financial management of Education students Accounting, Faculty of Economics, Surabaya State University.The results of this study are inversely proportional to the research title "The Effect of Financial Education in Family, Income, and Financial Literacy on Financial [8] and [9] Management Behavior through Financial Self-Efficacy as a Mediation Variable", which revealed that pocket money has a negative influence on financial management behavior.
Next, research was carried out in the research title "The Influence of Peers and Locus of Control on the Financial Management Behavior of Bidikmisi Students, Faculty of Economics, Universitas Samudra" which showed that students who received bidikmisi assistance funds from the Faculty of Economics, Universitas Samudra had good fund management practices because they were influenced by peer friendship and selfcontrol.Then this research is in line with the research title "The Effect of Financial Literacy, Locus of Control, and Financial [10] and [11] Self Efficacy on Financial Management Behavior (Study at PT. Panarub Industry Tangerang)" which revealed that the locus of control and peers significantly influence financial management behavior.Research conducted under the research title "The Effect of Financial Literacy, [12] Personality Traits, and Self-Control on Financial Management Behavior (Study on Thai Artist Fans)" shows that self-control has a significant and positive impact on financial management behavior, showing that any transformation in financial management behavior is influenced due to self-control ability.
According to a previous study by [25] entitled "The Effect of Pocket Money, Peers, the Surrounding Environment on Student Self-Control in Financial Management in the Covid-19 Era", it shows that the surrounding environment, peers, and pocket money have a positive influence simultaneously on students' ability to control financial management.Awareness of these factors can help students to be wiser in managing their finances during a pandemic.By doing financial management, you can separate personal funds and funds to be used.
From this exposure, the researcher has an interest in conducting a deeper study in this matter through a study entitled "The Effect of Pocket Money, Peers and Self-Control on Financial Management in Treasure Fans in Karawang".This study aims to identify and analyze the impact of the variables mentioned on the financial management of Treasure music group fans in Karawang.

Allowance
According to pocket money, it is money received or obtained by someone obtained from parents and given to their children, whose budget is used to meet needs.Usually, pocket money is given with a deadline of a week, month, or every year used for daily expenses and school or college needs.The indicators used in pocket money are gifts from parents and utilization of pocket money [13] and [14].

Peers
Peer can be interpreted as someone who has the same age level and can interact to be familiar.Often, a high level of familiarity will feel comfortable, allowing pleasure to appear in him.The indicators used are cooperation, competition, acceptance, conformity and unity [15] and [16].

Self-Control
Believing in one's sensitive ability to interpret the situation and the surrounding environment is a sign of self-control.Selfcontrol refers to a person's ability to manage their behavior in response to a variety of different social situations and conditions.These include the ability to acquire attention, the tendency to produce behavioral changes to be in line with other individuals, the drive to continually adapt to the surrounding environment, and skills in managing emotions.Indicators used include behavioral control, stimulus control, anticipation of events, interpretation of situations, and decision-making abilities [17] and [18].

Financial Management
Financial management according to is a component of the flow of activities a person can manage his funds to meet his life needs by processing the money he has wisely and have a good outlook in the long term.The indicators used are spending as needed, financial planning, saving and setting aside a budget and [21].[19]- [20] RESEARCH FRAMEWORK

METHODS
The research method used is quantitative descriptive path analysis.Research testing tool SPSS V.26.This study used a total sample of 76 people with the criteria of Treasure fans, aged 12 -20 years, domiciled in Karawang and had purchased official or unofficial Treasure merchandise.The study was conducted from July 2023 to December 2023.The measurement scale involves the use of Likert scale.The data was obtained using questionnaires through google forms to respondents.Based on the results that have been obtained, it can be concluded that each statement item from all variables (pocket money, peers, self-control and financial management) has a calculation of > 0.223 so that all statement items for the variables of pocket money (X1), peers (X2), self-control (X3) and financial management (Y) are categorized as valid.

Reliability Test
A variable is considered reliable if it has a Cronbach alpha (α) value of > 0.6.[22] Table 2  The result of the output, it can be seen that the value of Cronbach's Alpha if Item Deleted lies in the 6th item of 0.626, then the 6th item is omitted from the variable allowance (X1).

Picture 2 Output Re-Reliability Source: Data Processing Results, 2023
After reprocessing the data, the variable allowance is categorized as reliable because the Cronbach alpha of 0.626 > exceeds 0.6.From the results of re-processing data, it can be seen the value of Cronbach alpha for each statement on the questionnaire, so that it can be concluded that all statements contained in the questionnaire can be categorized as reliable.

Normality Test
The normality test is carried out through the Kolmogorov-Smirnov Test.

Picture 3 Normality Test Source: Data Processing Results, 2023
According to the table, the test results are obtained that they are worth Asymp.Sig (2tailed) 0.003 < 0.05, this means that the data is not normally distributed.The method used in overcoming data that is not normally distributed is through the use of the Exact method.revealed that the [24] Exact approach refers to a way that can be used as an alternative solution in overcoming abnormal data.
With the Exact approach, normality results are obtained, that the value of significance through the use of the Exact method of Exact Exact value.The 2-tailed sig is with a magnitude of 0.149 which means it exceeds a significant value of 0.05.So it can be concluded that the residual value is normally distributed.

Descriptive Pocket Money
Based on the research that has been carried out, the allowance obtained from the 5 statement items shows a total score of 1,535 and an average score of 307 located in the range of the agree scale.The highest score was 311 on the statement item "I receive allowance from parents regularly" indicating that Treasure fans still earn allowance from their parents on a regular basis.The lowest score was 301 on the statement item "I earned extra money from parents" which indicates that Treasure fans did not earn extra money from their parents.

Descriptive Peers
Based on the research that has been carried out, peers obtained from 10 statement items show a total score of 2,916 and an average score of 291.6 located in the range of the affirmative scale.The highest score is 334 on the statement item "I am proud to be able to utilize pocket money according to need" which shows that Treasure fans are proud to be able to utilize pocket money according to need.The lowest score of 158 on the statement item "I often attempt to demonstrate financial ability to friends in order to be considered equal or better than them" indicates that Treasure fans are not trying to show financial ability to friends to be considered equal or better than their friends.

Descriptive Self-Control
Based on the research that has been carried out, self-control obtained from 12 statement items shows a total score of 3,947 and an average score of 328,917 located in the range of the scale strongly agree.The highest score was 341 on the statement item "I have the ability to interpret that buying items in installments or debt can exert a financial burden in the future" indicating that Treasure fans have the ability to interpret that buying items in installments or debt may exert a financial burden in the future.The lowest score was 317 on the statement item "When faced with an attractive offer or promo, I am able to think rationally and anticipate whether it fits my financial priorities or not" which indicates that Treasure fans cannot resist using pocket money for some non-urgent matters and Treasure fans are unable to think rationally and anticipate whether it fits with financial priorities or not when facing attractive offers or promos.

Descriptive Financial Management
Based on the research that has been carried out, financial management obtained from 12 statement items shows a total score of 3,922 and an average score of 326,833 located in the range of the scale strongly agrees.The highest score was 341 on the statement item "I set aside pocket money for personal savings" indicating that Treasure fans set aside pocket money for personal savings.The lowest score was 313 on the statement item "I set a budget in monthly grocery shopping" which indicates that Treasure fans do not set a budget in monthly grocery shopping.

Variable Correlation of Allowance (X1) with Peers (X2)
According to the output results, a significant value or Sig.(2-tailed) with a magnitude of 0.000 is obtained.Since the value of Sig.(2-tailed) 0.000 < does not exceed 0.05, this means that it has a significant relationship between the variable allowance and peers.
According to the results of the SPSS output, the correlation coefficient number of 0.486 is obtained which means that it has a fairly strong correlation level and is directed to a positive correlation.

Variable Correlation of Allowance (X1) with Self-Control (X3)
According to the output results, a significant value or Sig.(2-tailed) with a magnitude of 0.000 is obtained.Since the value of Sig.(2-tailed) 0.000 < does not exceed 0.05, this means that it has a significant relationship between the variables friend pocket money and self-control.
According to the results of the SPSS output, the correlation coefficient number is 0.590, which means that it has or is stratified by a fairly strong correlation and has a positive correlation direction.

Correlation of Peer Variables (X2) with Self-Control (X3)
In accordance with the output results, a significant value or Sig.(2-tailed) with a magnitude of 0.000 is obtained.Because it is valuable.(2-tailed) 0.000 < does not exceed 0.05, this means that it has a significant relationship between peer variables and selfcontrol.
According to the results of the SPSS output, the correlation coefficient number is 0.399, which means that it has a weak correlation level and a positive correlation direction.1.666 and a significant value of 0.000 < 0.05.So it can be concluded that Ho rejected means that pocket money (X1) has a partial effect on financial management (Y).

Picture 6 Coefficient of Determination
Source: Data Processing Results, 2023 According to the results of the table, it is obtained that R Square with a magnitude of 0.666.This shows that the variables of pocket money, peers and self-control on financial

West Science Business and Management
 91 management have an influence of 66.6% and the rest are affected by other variables.So that the path error coefficient (error) can be known, namely: €= √1 −  2 = √1 − 0,666 2 = 0.556 Based on the path analysis, the path analysis picture in this study can be described as follows: According to the table above, it is obtained that it is worth sig.0.00 < α (0.05) and f count 47.781 > f table 2.73.So, it can be concluded that Ho rejected means pocket money (X1), peers (X2) and self-control (X3) simultaneously affect financial management (Y).

Descriptive Discussion
In the variable allowance, the highest score is on the statement item "I receive allowance from parents regularly" which indicates that Treasure fans still earn pocket money from their parents regularly.The lowest score was on the statement item "I earn extra money from parents" which indicates that some Treasure fans did not earn extra money from their parents.On the peer variable, the highest score was on the statement item "I am proud to be able to utilize pocket money according to needs" which shows that Treasure fans are proud to be able to utilize pocket money according to needs.The lowest score was on the statement item "I often attempt to show financial ability to friends to be considered equal or better West Science Business and Management  92 than them" which indicates that Treasure fans are not trying to show financial ability to friends to be considered equal or better than their friends.On the controlling variable, the highest score was on the statement item, "I have the ability to interpret that buying items in installments or debt can exert a financial burden in the future", indicating that Treasure fans have the ability to interpret that buying items in installments or debt can exert a financial burden in the future.The lowest score was on the statement item "When faced with an attractive offer or promo, I am able to think rationally and anticipate whether it fits my financial priorities or not" which indicates that Treasure fans cannot resist spending pocket money on some non-urgent matters and Treasure fans are unable to think rationally and anticipate whether or not it fits with financial priorities when faced Attractive offers or promos.
On the financial management variable, the highest score was on the statement item "I set aside pocket money for personal savings" which indicates that Treasure fans set aside pocket money for personal savings.The lowest score was on the statement item "I set a budget in monthly grocery shopping" which indicates that Treasure fans do not set a budget in monthly grocery shopping.

Correlation between Allowance Variable (X1) and Peers (X2)
According to the results of research tests that have been conducted, it was found that there is a correlation relationship between the variable allowance (X1) and peers (X2) has a positive correlation direction and is quite strong.That is, when pocket money increases, there tends to also be an increase in interaction with peers, and vice versa.This is reinforced by previous research conducted by that student [25] who are still in school and studying today tend to interact with their peers.This kind of interaction can have a significant impact in shaping their social circle, so that their ability to manage finances can be in line with others.Currently, there are various financial management activities between them, and the amount of money they have can also affect the dynamics of the existing friendship.

Correlation between Pocket Money Variable (X1) and Self-Control (X3)
Based on the results of research tests that have been conducted, it was found that there is a correlation relationship between the variables of pocket money (X1) and self-control (X3) has a positive correlation direction and is quite strong.That is, pocket money increases, selfcontrol also tends to increase, and vice versa.This is supported by the phrase [26] and in his research [27] that someone who has a high level of self-control often avoids making impulsive decisions.This approach is considered an effective strategy to prevent unnecessary purchases.Therefore, individuals who have large incomes but lack of managerial supervision and lack of adequate self-discipline tend to exhibit less rational spending patterns.

Correlation between Peer Variables (X2) and Self-Control (X3)
According to the results of research tests that have been carried out, it was found that there is a correlation relationship between two variables, namely peer (X2) and self-control (X3) has a positive direction but the level of correlation is weak.That is, there was a positive relationship between the level of interaction with peers and the level of selfcontrol, but the relationship was not strong.These results suggest that there may still be other factors influencing self-control aside from interactions with peers.The results of the study are different from previous studies by peer relationships and self-control will affect self-adjustment if self-control from peers is a good self-adjustment.[28]

Partial Effects of Pocket Money (X1), Peers (X2) and Self-Control (X3) on Financial Management (Y) Partial Effect of Partial Effect of Pocket Money (X1) on Financial Management (Y)
Based on research that has been done, there is a partial effect of pocket money (X1) on financial management (Y) in Treasure fans in Karawang stating a significant relationship.This means that when the pocket money earned is high, it will affect the financial management of Treasure fans.This is reinforced by previous research conducted [29] revealing that the way students allocate their pocket money is directly related to how they manage personal finances, especially Accounting Education students at the Faculty of Economics, Surabaya State University.From this research, it can be concluded that the amount of pocket money received by students will affect their attitudes and behavior in managing their own finances.Students who receive large amounts of pocket money tend to exhibit responsible financial management habits.

Partial influence of peers (X2) on financial management (Y)
Based on research that has been carried out, there is a partial influence of peers (X2) on financial management (Y) in Treasure fans in Karawang stating a significant relationship.That is, peers have a real influence on the way individuals manage their finances.This is reinforced by previous research conducted [10] which revealed that students who received bidikmisi scholarships at the Faculty of Economics, Universitas Samudra showed financial management behavior that needed attention, which was influenced by peer factors and locus of control.This finding is consistent with the results of research conducted by those who obtained those peers and locus of control have a significant effect on financial management behavior [11].

Partial Effect of Self-Control (X3) on Financial Management (Y)
Based on research that has been carried out, there is a partial influence of self-control (X3) on financial management (Y) in Treasure fans in Karawang stated a significant relationship.That is, the relationship between self-control and financial management does not happen by chance and self-control and pocket money have a real impact on how someone manages their finances.This is reinforced by previous research conducted [12] showing that selfcontrol has a positive and significant impact on financial management behavior, showing that all changes in financial management behavior are influenced by self-control abilities.

The simultaneous effect of pocket money (X1), peers (X2) and self-control (X3) on financial management (Y)
According to research that has been carried out, it was found that there is a simultaneous influence of pocket money, peers and selfcontrol on financial management in Treasure fans in Karawang.This means that these three factors not only affect individually, but also have a significant effect when combined together on how someone manages the finances of Treasure fans.This shows the interrelationship between pocket money, interaction with peers, self-control, and financial management.Treasure is a South Korean boy band that can influence the spending patterns of its fans.Pocket money, as a source of personal finance, will have an impact on fans' ability to support their idols.Interactions with peers within Treasure's fan community also influence financial decisions, such as purchasing merchandise or concert tickets, and selfcontrol is important as fans are faced with the temptation to spend more money in order to support their idols, so wise financial management will ensure that fans can continue to follow Treasure's activities without compromising their financial stability.This is reinforced by previous research by [25] those who also conducted research with similar variables that pocket money, peers, and the surrounding environment simultaneously have a significant influence on student self-control in financial management in the Covid-19 era.

CONCLUSION
In accordance with the results of research and discussion, conclusions can be drawn that: 1) According to the results of the study, it shows that the variable of pocket money from the answers of respondents obtained is in the category of agree.Peer variables

Picture 5
Output Path Analysis Source: Data Processing Results, 2023 a.The amount of partial effect of pocket money (X1) on financial management (Y), based on the figure shows the result of a coefficient of 0.307 with t count of 3.421 > t table 1.666 and a significant value of 0.001 < 0.05.So it can be concluded that Ho rejected means that pocket money (X1) has a partial effect on financial management (Y).b.The amount of partial peer influence (X2) on financial management (Y), based on the figure shows the results of a coefficient of 0.210 with t count 2.657 > t table 1.666 and a significant value of 0.01 < 0.05.So it can be concluded that Ho rejected means that peers (X2) have a partial effect on financial management (Y).c.The amount of partial influence of selfcontrol (X3) on financial management (Y), based on the figure shows the result of a coefficient of 0.467 with t count of 5.457 > t table

Figure 10
Figure 10 Path Analysis Model Source: Researcher Processing Results, 2023

4.1 Validity Test Test
validity using the Pearson Product Moment (PPM) method.The validity test in this study uses the SPSS V.26 program, each instrument is categorized as valid if r counts > 0.223.

Picture 1 Output Nilai Cronbach's Alpha if Item Deleted
[23] Processing Results, 2023From the table, it can be seen that the variable allowance (X1) is not reliable because the value of Cronbach alpha with a magnitude of 0.483 > less than 0.6.One way to overcome reliable data is to eliminate statement items on the questionnaire that have the highest Cronbach's Alpha if Item Deleted value.[23] Source: Data Processing Results, 2023