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All Journal Fakultas Ekonomi Majapahit Journal of Islamic Finance and Management Majapahit Journal of Islamic Finance dan Management Al-Qawaid
Wakik, Wakik
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Religion Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

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Journal : Majapahit Journal of Islamic Finance dan Management

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Edu Finance to Improve Financial Literacy in Rengginang MSMEs in Sumenep Regency Syauqi, Ahmad; Mubarok, Imam Anas; Wakik, Wakik; Anshori, Syaiful
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 3 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i3.599

Abstract

This research aims to provide a comprehensive understanding of the basic concepts of financial management, such as transaction recording, budgeting, and cost calculations, which are expected to help MSMEs in making more appropriate business decisions. The population that is the focus of this study is all Rengginang MSMEs, totaling 42 MSMEs. The sampling technique used in this study is a saturated/census sample, the author took all respondents from the Rengginang MSME population, namely 42 respondents/MSMEs. Because it employs numerical data for descriptive statistical analysis, the research design employed in this study is quantitative. The outcomes of these computations will thereafter be contrasted with Chen and Volpe's standards for financial literacy. The study's findings indicate that financial behavior, financial awareness, and financial abilities are generally inadequate. Therefore, it is necessary to apply the Edu Finance Model for Rengginang MSMEs, which consists of Funding planning for rengginang MSMEs in Prenduan Village requires a clear written plan detailing the capital required and how the funds will be used. A profit and loss report can be prepared, providing information for rengginang MSMEs to manage their businesses. Furthermore, orderly financial record keeping will facilitate MSMEs. Feedback is needed to determine the extent to which budget allocations are in line with the plan. If not, the root cause of the discrepancy should be identified and incorporated into the next period's action plan to ensure sustainable financial management.
Co-Authors Ahmad Syauqi ahmad syauqi, ahmad Ainur Rofiq Anshori, Syaiful Mubarok, Imam Anas