Inkubis: Jurnal Ekonomi dan Bisnis
Vol. 8 No. 2 (2026): INKUBIS Jurnal Ekonomi Dan Bisnis

Financial Literacy and Human Capital Readiness among Vocational Students in Yogyakarta

Novi Diah Wulandari (Universitas Nahdlatul Ulama Yogyakarta)
Zulfatun Ruscitasari (Universitas Nahdlatul Ulama Yogyakarta, Indonesia)
Suroya 'Izzatul Mustafidah (Universitas Nahdlatul Ulama Yogyakarta, Indonesia)
Budi Sutiono (Universitas Nahdlatul Ulama Yogyakarta, Indonesia)



Article Info

Publish Date
09 Jul 2026

Abstract

Background: Preparing students for the workforce is a key priority in vocational education, requiring graduates to possess occupational skills, social competencies, personal development, and financial management abilities. Objective: This research investigates how self-efficacy, soft skills, and financial literacy contribute to work readinessamong vocational high school students in Yogyakarta, with self-confidence serving as an intermediary variable. Methods: This research adopted a quantitative approach through a cross-sectional survey administered to 348 vocational high school students. Analysis was carried out using the Partial Least Squares Structural Equation Modeling (PLS-SEM) technique. Results: The results reveal that self-efficacy (β = 0.467, p < 0.001), soft skills (β = 0.201, p < 0.001), financial literacy (β = 0.193, p = 0.013), and self-confidence (β = 0.096, p = 0.042) positively predict work readiness (R² = 0.859). Notably, self-efficacy did not significantly influence self-confidence (β = −0.044, p = 0.565), suggesting that task-based capability beliefs do not automatically translate into social-evaluative confidence. Financial literacy had the strongest effect on self-confidence (R² = 0.813) and mediated the financial literacy–work readiness pathway (β = 0.076, p = 0.046). The indirect effect of soft skills through self-confidence was near-significant (p = 0.052) and should be interpreted cautiously. Conclusion: This study contributes to vocational education scholarship by revealing that financial literacy acts both as an independent determinant and as an antecedent of self-confidence, which subsequently boosts work readiness, whereas self-efficacy exerts its influence through a direct performance-oriented pathway rather than through a confidence-based mediating route.

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Journal Info

Abbrev

ink

Publisher

Subject

Economics, Econometrics & Finance

Description

INKUBIS: Jurnal Ekonomi dan Bisnis is a scientific periodical published twice a year or 6 months. INKUBIS: Jurnal Ekonomi dan Bisnis is managed by the Politeknik Siber Cerdika Internasional which publishes scientific manuscripts in the family of economics and ...