Al-Kharaj: Journal of Islamic Economic and Business
Vol. 8 No. 3 (2026): All articles in this issue include authors from 3 countries of origin (Indonesi

The Influence of Financial Literacy and Social Media on the Investment Interest of Millennials in the TDA (Tangan Di Atas) Community

Muh Subroto (Universitas Muhammadiyah Palopo)
Jumawan Jasman (Universitas Muhammadiyah Palopo)
Jabid Ramadhan (Universitas Muhammadiyah Palopo)



Article Info

Publish Date
24 Sep 2026

Abstract

The development of investment among millennials shows a rapid increasing trend along with the ease of access to information through digital platforms and social media. However, although the level of investment participation continues to grow, many millennials still have limited understanding of financial concepts and investment risks. Low financial literacy can lead to inappropriate investment decisions, especially when the information obtained comes from social media, which is not always reliable. Based on this phenomenon, this study aims to analyze the effect of financial literacy and social media usage on investment interest among millennials in the Tangan Di Atas (TDA) community. This study uses a quantitative method with a survey approach. Data were collected through questionnaires distributed to 50 members of the TDA community selected using purposive sampling technique. Data analysis was conducted using multiple linear regression analysis supported by partial test (t-test), simultaneous test (F-test), and coefficient of determination (R²). The results show that financial literacy has a positive and significant effect on investment interest, while social media also has a positive and significant effect on investment interest. Simultaneously, financial literacy and social media have a significant effect on millennials’ investment interest in the TDA community. These findings indicate that both variables play an important role in increasing investment interest. Therefore, more effective financial education strategies and the optimal use of social media as a credible investment education medium are needed to enhance investment interest among millennials

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Journal Info

Abbrev

alkharaj

Publisher

Subject

Economics, Econometrics & Finance

Description

Al-Kharaj, Journal of Islamic Economic and Business is peer-reviewed journal published by program studi ekonomi syariah , Institut Agama Islam Negeri (IAIN) Palopo. Al-Kharaj focus on the research of Islamic Economic and Business. The aims of this journal is to explore and develop economic related ...