Saving with the Hallyu Wave: Exploring the Saving Money Challenge Among K-Pop Fans in the Digital Age

The phenomenon of the Saving Money Challenge among K-Pop fans in Jabodetabek presents a unique cultural context to explore saving behavior influenced by digital integration and social dynamics. This study aims to identify the factors influencing saving behaviors among K-Pop fans, focusing on digital financial literacy, financial inclusion, peer influence, and lifestyle. Employing a quantitative approach, the research utilizes purposive sampling with the Lemeshow formula to select 100 respondents. Data collection was conducted via an online questionnaire distributed through Google Forms on various social media platforms. The Partial Least Square (PLS) method was applied for data analysis. The study provides novel insights into the saving behaviors of K-Pop fans, highlighting how digital financial literacy does not impact saving behavior, whereas financial inclusion, peer influence, and lifestyle factors positively influence saving behaviors. This suggests that while digital skills are pervasive, their effectiveness in fostering saving habits depends on broader social and financial integration. The results underscore the significant role of socio-cultural factors in shaping financial behaviors. Financial inclusion, peer dynamics, and lifestyle choices are crucial in promoting saving habits among young consumers, particularly within interest-based communities like K-Pop fans in urban settings.