13th Annual International Conference on Industrial Engineering and Operations Management

Frugal Behavior Potential and Development for Community Financial Stability in Crisis Times

0 Paper Citations
Track: Business Analysis and Marketing

During this pandemic, some nations have used frugal living to achieve economic stability, improve well-being, and protect the environment. This study examines how Indonesian frugal behavior might be used to stabilize the economy amid the crisis. This study will analyze frugal behavior surveys and interview respondents. This mixed-methods study found that frugal and pro-environmental behavior can be developed, but the public needs easy-to-access financial literacy knowledge. This study's fit model shows that frugal actors profit from pro-environmental action. Adherents of frugal conduct have inherent motives to adopt it after learning how to manage resources wisely and sparingly. The majority of people are still unfamiliar with the term "frugal behavior" and merely grasp the concept, which is less relevant to their needs. This is an opportunity to promote frugal and pro-environmental behavior based on the concept of frugal behavior. More knowledge and skills in financial management that are consistent with frugal behavior are needed.

Published in: 13th Annual International Conference on Industrial Engineering and Operations Management, Manila, Philipines

Publisher: IEOM Society International
Date of Conference: March 7-9, 2023

ISBN: 979-8-3507-0543-0
ISSN/E-ISSN: 2169-8767