Demographic and Socioeconomic Determinants Use of Financial Products/Service

The use of financial products/services in Indonesia is growing. And is one of the factors of economic growth. This study aims to investigate the demographic and socio-economic factors that influence the use of financial products/services. The data used are based on the 2023 National Socio-Economic Survey. The object of analysis is the population aged 15 years and over who use at least one financial product/service. There were 241,075,975 respondents in this study, of which 23.17% used at least one financial product/service. The dependent variable is the use of financial products/services. The independent variables used are Gender, Education, Island of residence, Urban/rural, and Marital status. The analysis was carried out using bivariate and multivariate methods. Multivariate analysis using a binary logistic regression model was used in the analysis. The results showed that higher use of financial products/services was associated with being male, college graduates, living in Java, living in urban areas, and being married.