Financial Awareness Among the Teachers

People are vulnerable into economic difficulties if they do not have financial awareness. This study seeks to find out what the determinants of financial intelligence in junior and vocational school teachers in an area of West Java are. Our findings explain, in general, that teachers have relatively high financial awareness. Empirical tests suggest the financial awareness is influenced by an only one independent variable, namely a person's attitude. While the other independent variables such as family and individual perceptions are not significant at all. This finding proves the need for character education for everyone to have financial awareness. The reason is, the more mature a person, then the most determines everything in the life is his/ or her attitude, not anything coming from the family or something perceived so far.


INTRODUCTION
The book, Rich Dad Poor Dad, written by Robert Kiyosaki published in 1997, showed us about how to achieve financial success. He suggested that there is something wrong with the education system in the United States. It caused many people go bankrupt in their old age. One factor is because of ignorance of financial problems (Kiyosaki, 2011). In Indonesia, in the past we knew the proverb that "saving makes us rich". But now, it has changed into, "investing makes us rich". The progress of human mindset which distinguishes us from simple into modern way of thought. To become economically independent, a person should build his wealth through investing in the real sector, not just working and saving in a bank. Financial intelligence is needed to increase business profits, and read opportunities.
People can achieve a more prosperous life if they have financial awareness. They can arrange their financial future plans. Economic difficulties suffered by some people usually because of they do not aware about financial problems.
Financial awareness is a trend of economic studies that is increasingly in demand by many people. Today formal education to generate financial awareness is one of the important things. Even as the economy of the United States faces a recession with slowing economic growth and high unemployment, the demand for financial literacy education in the country has increased dramatically (Forté, 2014). It is because the government and society worry that many people failed in their old age because they lack ability to manage finance. It is an evidence of financial awareness.
If it is tracked further, interest in financial education in America has been widely discussed since the 1990s (Walstad, Rebeck, & MacDonald, 2010). Between 1998 and 2009, the state government wanted to increase the importance of financial awareness for secondary school students before they graduated. It is carried out because of the failure and bankruptcy of a number of older generation in economic terms. The teenagers who tend to spend money without planning will follow in their path to bankruptcy. The financial awareness in Indonesia should be given to the younger generation from an early age. Teachers play an important role in spreading this thought to their students.
Many factors are actually considered to underlie our weaknesses in terms of financial awareness. For example, education, easy access to financial products, or personal reluctance. It is possible that someone is greatly affected by his family in terms of spending his/ her money. However, sometimes actually the family has very little role, compared to the social environment when he/ or she grows adult. In other side, maybe the most important thing that determines his/ her awareness is the attitude and actions in financial matters.
By referring to the situation above, we want to examine what factors influence financial awareness among the educators (teachers). Teachers are educational people whose role is to educate our young generation in school, so that they become persons starting to build knowledge characteristic in someone's life. We feel it is important to examine this because there are many cases of financial fraud in the community. The other main factor for this importance was because most of us underestimated financial education, so that they were caught up in scams and fraud that led to losses.
We deliberately chose teachers who educate children in Junior High Schools (SMP) and Vocational High Schools (SMK), because they play a major role in delivering young students to become knowledgeable people later on. The middle level is actually the hardest education phase, besides basic education, which is experienced by a child. At this stage there was a transition from childhood to adulthood, the students began to face various exercises and lessons to hone their intellectual acuity. Middle school teachers, thus have not a little burden, and require extra patience in educating. We hope that with the discovery of factors that influence their financial awareness, we can find solutions to overcome financial problems that often occur among educators.
Financial awareness in this context is a synonym of the word financial literacy, always closely related to two things: a collection of knowledge (stock of knowledge) about financial products and how to use them (Huston, 2010). Many of us do not understand what financial products have circulated in the community. They do know money and banks, but their knowledge is nothing more than shopping and saving money. This ignorance causes access to increase the welfare to be hampered. While the financial planning is the ability to divide funds into various financial posts or channels. Starting from urgent and very important needs, to allocation of shortterm, medium-term and long-term needs. So that families or individuals can fulfill all their needs proportionally if they have good financial management awareness. Without that ability, it is not impossible for someone to spend their money just to fulfill a hobby or momentary pleasure that is not needed at all.
Indeed, there are actually many economists, sociologists, or planning makers who disagree and dispute about what really financial literacy means. But if it is explored deeply, financial literacy is someone's competence in managing their finances (Remund, 2008). There are at least 5 dimensions so that someone can be said to have financial awareness: 1) knowledge of financial concepts; 2) able to communicate about financial matters; 3) agility in managing personal finance; 4) good ability to make financial problem decisions; 5) the ability to make effective planning in financial matters in the future.
Generally those who are mired in poverty are caused by ignorance and unconsciousness of good financial management. When we want to make good financial planning in the future, the important thing that is also worth noting, is inflation prediction (De Bruin et al., 2010). Financial planning is not only savings, investment, or guarantees in old age, but also involves expectations of price increases, even if only a simple estimate. De Bruin et al. (2010) observed that a number of people who have high inflation estimates in the future generally come from low-income communities, and are accustomed to rising prices as something burdensome.
A study shows that the average population of the United States, especially low-income people, is not prepared to face recession between 2007 and 2009 (Robles, 2014). They spend assets that have been collected by hard work for years. From examples of the empirical findings, it is clear that financial awareness is not determined by the amount of money that is owned, but as one of one's special abilities in managing his income.
Other research states that weak economic community tend to experience income instability, both in good economic conditions and during recessions (Gennetian & Shafir, 2015). That is, whatever the economic situation, they still have difficulties. They are certainly difficult to have savings. It was also found that around 38 percent of poor households said that winning the lottery was one way to obtain wealth. Though the lottery is a detrimental gamble.
On other side, the poor households generally can do to save, but facing several problems. The study conducted by Karlan et al. (2014) concludes 5 things as the main causes that prevent poor people from saving: 1) transaction costs. Generally these fees apply to opening account, withdrawing money, and maintaining savings; 2) lack of trust and regulatory barriers. The lack of public trust in financial institutions incur theim to feel reluctant to save. Especially if added to the burden of burdensome regulations, the tendency of the poor is increasingly reluctant to save their money in banks; 3) information and knowledge gaps. The poor are usually ignorant and lack information, especially financial literacy; 4) social constraints. Intra household relationships sometimes cause poor people to remain poor, unable to save. Very close family relationships sometimes require that we have to help other family members or relatives who need money in cash. So that we can understand that family and community networks sometimes carry risks that must be paid attention; 5) behavioral biases. This behavior occurs in a person, who usually reflects odd behavior. For example, overoptimism, mistakes in planning, procrastinating, and so on. Interestingly, if we pay attention to the point three (3), it is the lack of information actually as burden of undersaving. It can be eradicated with the program of financial education that seduces people to manage their wealth properly. Anyone from any background economically and geographically can get insight to become rich by mastering the proper ways.
Those who are poor tend to get out hardly of poverty. According to Schwittay (2014), one effective way to end poverty is through a financial inclusion program. Microfinance institutions need to be made into the poverty alleviation program. Although there are many different obstacles in the actualization of the microfinance program, but it is proven as Muhammad Yunus did, poverty has dropped. Poverty is always associated with a person's weak financial resources and inability to access formal financial institutions (Schwittay, 2014). Then microfinance, with a semi-informal pattern, can reach them to be able to rise from the economic downturn.
Financial awareness is basically not related to a lot of money, or material. No matter how much income, if the owner does not have the ability to allocate wealth well, surely it will not be able to fulfill all of needs. Monticone (2010) found that wealth is not a major factor in households having good financial awareness. In his research in Italy, he did find the influence of a household's initial wealth as a trigger for family members' financial awareness, but the value was very small. Nevertheless, the findings still reinforce the view that financial education is related to human capital, which can have a positive effect on improving economic welfare (Monticone, 2010).
Based on the researchers' records, it is believed that the following factors greatly determine a person's financial awareness: social background, education, gender, and culture (Forté, 2014). Therefore, a financial instructor is encouraged to know more about the conditions of life of his students in teaching. Because the socio-cultural conditions, including family background, race, language skills, their mother tongue, gender also determine their attitudes in financial matters (Forté, 2014). By exploring the most sublime aspects of each student, teaching will be more effective in touching the heart, so the results are more effective.
Findings from Howlett et al. (2008) concluded that self-regulation or control, knowledge of a number of financial problems, and the future orientation of a consumer, had a significant effect on involvement in pension fund programs. This indicates that high financial awareness makes people think clearly about their life planning in the long term (Howlett, Kees, & Elyria, 2008). They are used to pondering deeply before deciding something. Clark et al. (2016) found that workers at the Federal Reserve had higher financial awareness than the average population in general. They actively contribute to financial planning held at work place. The investment menu opened for them includes stocks, bonds, and various other financial products such as housing (real estate) (Clark, Lusardi, & Mitchell, 2017). This finding is understandable because Federal Reserve employees are familiar with various financial products in their daily lives.
Unique findings were obtained by Simon et al. (2015) who examined soldiers with the viewpoint of PDRs (Personal Discount Rates). Their research presents the fact that enlistees who want a cash payment are greater than officers. The officers actually want a more genereous retirement pension. Enlistees who save regularly every month amount to fewer than officers. So even for financial instability problems, the enlistees are more than officers, although the levels of both of them from their respective totals are relatively low. Based on their findings, it was reported that around 24.4% of enlistees had the least one financial problem. Meanwhile only 8.1% of officers got the problem (Simon, Warner, & Pleeter, 2015). Another interesting thing, many in the army do not understand about retirement programs. A number of male respondents are more aware of the program than women. Those who were married were also found to have a better understanding than unmarried.
Black soldiers have less understanding than their white counterparts. The army of the Hispanic group is lower than the non-Hispanic. Personal financial problems of soldiers are important, because providing them with welfare after their duty will make them happier in their old age. Thomas & Spataro (2016) traced a number of literature regarding empirical research on the effect of pension funds on labor markets, financial markets, and economic growth. Their findings indicate that the pension funds failed to explain the phenomenon of job mobility. The occurrence of job mobility mostly due to technological changes, which accelerates access to information. The effect of pension funds on financial development is quite clear, determined primarily by some preconditions, such as financial education, financial development rates, openness to trade, shareholder protection, and size of pension funds itself. While the effect of pensions on economic growth is proven and found in various empirical literature. The role of pension funds in encouraging economic growth runs through funding various productive investment activities (Thomas & Spataro, 2016). Empirical research states that pension funds can generally support the development of small and medium businesses, when conventional banking financing is difficult to access. In addition to these matters, their research also concluded that financial literacy of workers played a major role in determining the attitudes of workers to invest, save, and plan pensions. Murendo and Musonziwa (2017) found that financial literacy in women was lower than men. Likewise, villagers have a lower literacy rate than city residents. Their findings support the view that high financial literacy helps individuals to save more actively, whether formal savings in banks, or informal savings at home. Their research supports the government's efforts to create a program to strengthen financial literacy in various levels of society, because it is believed to make their lives better (Murendo & Musonziwa, 2017).
From the explanation above, we understand that financial education programs are very necessary, especially for low-income communities. Servon and Kaestner (2008) tested online banking services for financial awareness among people with minimal income in cities. The results found that the influence of communication technology accompanied by financial literacy made them more financially profitable actors (Servon & Kaestner, 2008). Walstad et al. (2010) succeeded in proving that the financial literacy curriculum introduced to high school students was able to increase their knowledge of financial planning issues. This is a sign that the financial curriculum should be presented to students early on, so that they are accustomed to making careful planning of tomorrow's finances. For this reason, it is very important for educators to be able to inspire them to make good financial planning. Because with good teacher quality, the teaching-learning process will be more effective in producing graduates.
This research has advantages rather than the others due to capture phenomenon of financial awareness based on the educators' perspective. This study can add literatures regarding financial problems broadly.

RESEARCH METHODS
This study aims to find out how the financial awareness of teachers is formed in themselves. This research is quantitative, using primary data obtained from the survey results of 40 respondents. This number is enough and can be representative for population in the region where we conduct research. They are all teachers who serve in junior high and vocational schools. A total of 11 people were male, and 29 were female. A total of 37 people were educated in tertiary education. The remaining 3 people did not graduate from university and under the age of 20 years old. Those aged between 21-30 years are 17 people. Those 31 -40 years old are 14 people. While those over the age of 40 are 6 people.
Data retrieval is done by using purposive sampling. This method was chosen because it made easier for us to carry out research without the need for strict restrictions. The data in the study are ordinal, which we then convert into intervals with a Likert Scale to facilitate analysis (Vanderstoep, 2009).
In order to get an overview of the phenomena observed, we use a number of tools as follows. Independent variables consist of family influence, individual perceptions, and person's attitude. While the dependent variable is financial awareness.
Financial awareness ( ) is characterized by an awareness of earning income, managing, and investing it to grow more and more. Several statements are submitted as measures to explain this variable: 1) I save because it is fun; 2) I shop as needed; 3) In addition to savings, I also have investment in stocks, and or bonds, and or mutual funds, and or businesses managed by others; 4) Aside from working, I also have other sources of income: shops, and or rent, and or gardens, and or other services paid; 5) Whatever my income, I will save it; 6) I have arranged the budget every time I go for a walk, even out of town; 7) I managed to refrain and keep frugality, even though I was sometimes ashamed of others; 8) When I decided to save money, I always managed to do it; 9) For me, money obtained can be a business capital, not just shopping; 10) I have short, medium and long term financial targets.
The influence of the family environment ( 1 ) is interpreted as the environmental influence of the family that affects someone in financial matters. In this study we compiled a number of statements to be answered by the respondents, namely: 1) My parents gave a good example in financial matters; 2) I often talk about finance with my parents; 3) As a child, parents forced me to set aside the remaining pocket money to save; 4) My family is capable of living well; 5) I learn what money is, how to find and manage it from my family; 6) I have had savings when I was a child; 7) Parents encourage me to be materially successful.
Individual perception ( 2 ) is interpreted as someone's perception of money. For some people, money has a certain position in their lives, some judge it is important and some do not. In this study we compiled the following statements: 1) For me money is not a source of crime; 2) People who like saving are great; 3) Smart in the academic world is not enough, if you do not understand managing money; 4) I think, poor financial planning can make my life miserable; 5) I intend to save money from unexpected expenses; 6) I dare to take risks, in pursuit of a large investment advantage; 7) I consider wealth to be one way to achieve success and happiness.
A person's attitude ( 3 ) is understood as a form of behavior that explains how someone acts in the face of money. The statement in capturing this phenomenon is structured as follows: 1) I am willing to spend money (buying books, magazines, or journals) to learn to manage wealth; 2) I like to read info about investment; 3) I understand well various banking products; 4) I want to learn from those who are good at managing their money, even though they are younger than me; 5) I often attend seminars on financial planning and or investment; 6) I am very careful about choosing investment products, so as to avoid fraud or scam; 7) I invest, because I am sure it will reap benefits; 8) The money earned, needs to be saved, then developed so that it increases in number; 9) I prioritize refraining from using money, for the sake of the future.
After the data is obtained, we conduct a number of tests to detect the feasibility of the data that will be used: validity test and reliability test. Based on the analysis, it was found that all data was valid. The pearson correlation value shows a number that is greater than the critical r value which is 0.3. The reliability test results also show that there is no violating data, as evidenced by the cronbach alpha value greater than 0.6 indicating reliability is being accepted. After being sure that the data obtained meets the standards, the survey data will be analyzed using Ordinary Least Square (OLS) multiple regression. This analysis model was chosen because we aim to find a causal relationship of several independent variables on the dependent variable (Wooldridge, 2009). In this analysis, a number of classical assumptions will be applied to avoid bias result (Gujarati & Porter, 2009). The classical assumption tests consist of normality, heteroskedasticity, aucorrelation and multicollinearity test. The model for analysis in this study is organized as follows: = error term

RESULTS AND DISCUSSION
The results of the study in model 1 show that only the variable attitude of person who has a positive impact affects financial intelligence. Other variables such as family environment and individual perceptions do not show a significant impact. Calculations using the OLS (Ordinary Least Square) method with the Eviews9 tool show the following results: Based on table 1 above, we know that financial awareness is influenced only by one independent variable, namely a person's attitude ( 3 ). The t-statistic value of 3.870740 is greater than t-table with the number of denominators as many as 40 and nominees as many as 3 in the error degrees of 1%, 5% and 10%, which are 2.750, 2.042 and 1,697 respectively. This indicates that the person's attitude has a significant effect on financial awareness. The positive sign on the coefficient shows that when there is an increase of 1 unit person's attitude, financial awareness will increase by 0.644574 units, assuming other variables are considered constant (ceteris paribus).
Meanwhile, constant (C) shows positive sign, which means when all independent variables are constant, the financial awareness will increase. But in the table 1, the t-statistic value of 1.024781 is smaller than t-table with the number of denominators as many as 40 and nominees as many as 3. Therefore we can ignore, and not to discuss it further. The other independent variables in this study, namely family influence and individual perception do not significantly affect financial awareness. The variable family environment influence ( 1 ) only shows t-statistic value of 0.886636 which is smaller than t-table with the number of denominators as many as 40 and nominees as many as 3. This finding may not be too surprising, considering several things. The respondents we studied here were adults who had lived independently and apart from their parents. It can be plausible that because of that maturity, the determinant of financial awareness is not the influence of the family-parents ultimately. Presumably even though financial education in the family is given, when adults later some of us will decide something on our own consideration. In other side, maybe they have influence to their spouses and children.
The statistic value of variable individual perception ( 2 ) is 0.298611. It is smaller than ttable with the number of denominators as many as 40 and nominees as many as 3. Therefore, the individual perception also does not determine financial awareness.
We suspect that the absence of the influence of perception is due to their not-soaggressive financial mindset. Mature financial awareness needs to be supported by views and understanding that encourage someone to pursue R-squared 0.423004 Adjusted R-squared 0.374921 Durbin-Watson stat 2.565447 wealth to the maximum extent of their abilities. In Indonesia, somehow people who like to discuss and eager to obtain much money can be labelled with materialism. It is jeopardy. It is not surprising if some people in our society will be shy to express their whises about money. In this study, our respondents are teachers. They certainly have a higher sensitivity regarding financial matters. The value of 2 : 0.423 indicates that the variation in the dependent variable can be influenced by the independent variable 42.3%. While the rest, which amounted to 57.7%, was influenced by other things outside the model. This research model has also been aligned with classical assumptions. The result of normality test, found that the data have been normally distributed. The null hypothesis shows that there are no problems in terms of data normality. While the alternative hypothesis addresses that data is not normally distributed. From the empirical findings it was found that the null hypothesis was accepted. The probability value of 0.642507 is greater than 1 percent, 5 percent, and even 10 percent. Thus, the alternative hypothesis is rejected. The test table can be seen below: The autocorrelation test results did find any problem. The calculated Durbin-Watson value was found at 2.565447. The table value _ with a predictor variable of 3 is 1.15. While the table value _ with a predictor variable of 3 is 1.46. Thus it can be concluded that the data is free from the problem of autocorrelation. The calculated results can be seen in table 1 above.
The result of heteroscedasticity test also did not show any problems. The estimation result show that the calculated chi-square value is 5.826653. This value is smaller than the value of the chi-square table with a degree of freedom of 37, at 5 percent, which is 43.77. The test results can be seen as follow: Multicollinearity testing also shows the absence of variables that have a very close relationship. From the calculations, the biggest is the relationship between 3 and which is 0.640627849. The rests have a smaller relationship than it. The calculation table can be seen below: The findings in this study show interesting things, because some of the respondents involved were educators who played a vital role in educating the young generation of Indonesia. Therefore, directing them to be financially aware, can produce a significant impact on their students. The successful people have always financial awareness in their inner heart. They can manage their wealth wisely and allocate it into investment smartly. Teachers, both directly and indirectly, will be able to transmit their knowledge and attitude to their students in or out of the class.
Based on this study, we need to direct people to understand the usefulness of money. It is accompanied by the introduction of intensive supporting instruments such as banking products and investments-especially in the real sector. We found that some of the respondents answered the statement of family influence ( 1 ) for item 1: "My parents gave a good example in terms of finance", strongly agreeing to 36 people. While the remaining 4 people answered agree. This shows that all respondents get financial lessons from their parents at home. But in the empirical analysis, it turned out that their financial awareness was not at all determined by family influence.
In the individual perception statement ( 2 ) for item 3: "Smart in the academic circumstances is not enough, if you do not understand managing money", the respondents who answered very agree were 17 people. Those who answered agreed as many as 17 people. While the remaining 6 people chose neutral. This finding reminds us that it is not entirely among educators in junior high and vocational schools who think intelligence in managing finances is indispensable. In fact, it needs to be realized that the science of managing finance is useful in accumulating wealth so that in old age we will not be miserable. This prominent knowledge is not taught at school.
From the empirical findings it is interesting to look at the respondent's answers regarding the statement of financial awareness ( ) point 10: "I have short-term, medium-term and long-term financial targets". A total of 21 respondents answered strongly agree. 11 people answered agree. 7 people answered doubtfully. The remaining 1 person answered disagree. This finding warns us that not all educators have sound financial planning. We initially hoped they would answer the first choice: strongly agree. But the facts found were not as expected. Luckily none of them answered strongly disagree.
Many people misunderstand that financial intelligence is always related much money or huge income. In fact, just big earning is not a guarantee that someone can feel fulfilled. Financial intelligence is related to the ability to manage money wisely, in the form of money management by prioritizing needs and delaying desires.
The root problem of the emergence of poverty, if not because of the difficulty of employment, can come from a false understanding of wealth. People often always want to shop when they have money, and do not think about how to make it increase through investment-real sector. Consumptive attitude suddenly arises. As a result, many of us turn poor when income does not increase, while expenditure continues to increase. Some people are not able to manage personal income well.
Personal income cannot be understood in the form of only one source of income. Most people do not see opportunities around them that can be used as a source of income. For example, utilizing the surrounding grounds to be planted with various kinds of vegetables and or fruits for daily consumption. They focus too much on regular monthly salary or income received as the main earning. It could also be due to prestige and feeling embarrassed if someone else sees us looking for part-time jobs. Even though any kind of works, as long as it does not violate the law, is worth doing. Personal income is the income of each person that can be obtained from the main job in the form of salary, or inheritance, or investment. The meaning of personal income is not only narrow in the form of salary.
Our income can be increased by looking for other opportunities available. Suppose that salary income is permanent income, while the rest can be considered as additional income. Sometimes those who are highly educated, for example, are embarrassed to just run a smallscale home business. Though small businesses that are run routinely with fixed income, can increase our income every month. We suggest that our income not just depends on one source. We can spread our earning from one employment and the other jobs.
Through that way, we can make our personal income diversification. We do not lose a lot of time at work place because our monthly income supported by other incomes. With that other incomes, we do not lack to fulfill our daily and monthly needs. Even that extra income can be an investment for wealth accumulations.
From the findings in this research, some respondents answered that they were unfamiliar with financial products. Respondents answered the statement 3 point 3, namely: "I understand enough about various banking products", only 4 people choose very well. 12 others answered well. 16 others answered doubtfully. 3 people answered that they did not know. It is quite surprising that some theachers did not know well about bangking products. It can be reminder for us to educate people about financial matters.
It seems that in our country financial education is very low and necessary to be given officially in school, so that people are increasingly aware of the role of various financial products circulating in our midst. We want people not only understand about savings, but various services offered by banks in general. The findings of this study also show that it is very necessary to socialize banking products to the public more intensely.
The findings in this study are in line with our concerns about fraud incidents in Indonesia. Any cases of financial matters in Indonesia is because many Indonesians do not understand how to manage their finances; weak financial awareness. They lack ability to obtain, keep and invest it. In more extreme point, they do not know that money is very important.
This study has the same result, although it is not exactly the same as previous research. For example, Walstad et al. (2010) who prove that the financial literacy curriculum that introduced to high school students was able to increase students' knowledge of financial planning. This is a sign that the financial curriculum should be given to students early, so that they are accustomed to making careful financial planning. The views in this finding are not the same, but have the same goal with Walstad et al. (2010), namely the importance of financial awareness.
The anxiety about bankcrupty in the old age has encouraged many governments around the world to provide financial literacy education. It is phenomenon that has resonated everywhere, as a concern of many people. Not only in developing countries, but also in developed countries, it has become an important issue. The factor is because many people who look successful when they are young, but when they are older, they plunged into poverty. The money he had raised since he was young, could not be maintained until they entered old age. There is something that causes them to fail to get happiness in their old age.
Many of us usually face problems when entering old age and not productive physically again. Some people depend their life on the pension fund and still have to work even in old age. Many people should live with their children or family that give care of them. Children become a hope of the future, when they no longer work. The worst fo all is they become homeless because they do not have anyone to support their needs.
That situation above interestingly happened not because they were unable to work at a young age, or vacant jobs. They are actually busy people to raise money, and very productive when young. But the big problem of poverty faced by people in old age, due to their weak financial awareness. They forget that work has a time limit. The work time productively is a phase in someone's life that will end someday. Our age is not always young, so we need to allocate assets as best as we can do, so that it can be used until we are old.
One action of financial awareness is to prepare ourselves to enter the pension time. The teachers involved in our research are mostly civil servants (PNS), so they do not need to worry very much about retirement plans later. The government already had a pension plan that they will accept. Although civil servants are guaranteed by the State about their pension plans, they still face a bad situation of declining monthly income.
If their spending patterns when entering retirement are the same as when they still in productive time, then what will happen is financial disruption; their spending greater than income. The pension fund that they will receive is not the same as the monthly salary when they were still working; pension fund value is smaller than salary. Therefore, the spending must also be adjusted to the amount of money they receive when retire. This is a rational choice that they must make.
It has become commonplace that pensioners live on severance pay (in the case of private employees) or government pension funds (in the case of civil servants). However, sometimes these funds are not enough to support themselves and family members. We still need income as earning to sustain our lives. So, before entering retirement time, we should prepare ourselves.
During our retirement time, we will surely experience many changes. The first is our routine changes. We used to work early in the morning suddenly have to spend more times at home. This activity is not impossible to have a negative impact on health. Because, the absence of busyness sometimes makes our minds stressed. We need to be busy after retirement in order not to get stressed.
If we are used to productive work, we must prepare the need to be empowered when it has stopped working. Productivity can be in the form of being an entrepreneur, or other activities that bring benefits to continue to make money continuously. We can do anything to sustain our lives even though we are not working anymore.
Another crucial issue related to financial awareness is the ability to save. Many people around the world are unable to save money and often spend their salary or income at the same time they obtain it. They do not think clearly that one day that income will stop. The worst is they do not have adequate reserves of money they have raised every month. Though this action is very careless and detrimental to themselves.
It has been common that savings actually are trivial, but very important. If we do not collect saving early, we will not get any money from work. In fact, with these savings we can finance important urgent needs. By saving we can also have capital to finance investments that can bring benefits in the future. The case of bankruptcy of professionals who have worked for a long time is the result of weak financial awareness. They do not think that collecting money is important. They maybe work every day, but do not have any financial reserves at all.
By considering the difficulty of saving, one program has been created in the USA that makes it easy for teens to save. Through a number of electronic devices, the teenagers' account will be deducted to be allocated to a savings bank that they cannot take until a certain age. Any time their parents send money, in one month some funds will be deducted and entered into the special savings account. Teenagers feel helped by the program because they do dot feel disturbed. They do not have to save their money by themselves. When in fact their money has been cut off in the beginning since it was first sent by their parents.
We can imitate this kind of program, and implemented as a form of financial education for young people in Indonesia. The number of oconomists found that many young people today do not care about savings and prefer fun like traveling, recreation, and so on from various activities that are just a waste of money. This action will make them poor. The lack of financial reserves can make their live miserable and hard.
Saving money is a form of financial intelligence. Because by saving, we can allocate money for more urgent needs. Saving activities are formed from habits which have been formed form our attitude in seeing money. When we consider money as very important, and valuable, we will keep it well. Because money is so valuable, we place it in a safe place. Bank is one such safe place. For some people who do not have financial awareness, saving at the bank is difficult due to complicated requirements. Fortunately people like this in Indonesia have now begun to diminish, because the government is aggressively promoting banks in all regions and even remote areas in Indonesia. The banking access is one of the important mechanisms to achieve success in making people aware of financial matters. When people like to save their money in formal institutions, their economy is getting better.
The last issue of financial awareness is ability to develop money. In this context the goal is to invest; by investing we can grow more money. The act of investing is actually intended to get a profit. But, sometimes we faced by fraud or scam. The crime of investment is a form of extraordinary crime that is happening because of the weak financial literacy among our society. People do not aware that the company is fictive company. The investment crime is a high level of crime that manipulates a person's ignorance. Those who have a weak understanding of the world of investment, are easily fooled. People who have financial awareness will not be easily fooled by fake investments. We really need to educate the public about this problem.
Investments can actually be a source of income and make us being rich. The wealth obtained from investing is considered legal according to norms and law by any country and any religion.
The form of investment can take many forms. Investment can be in the form of investment in the money market. We, for example, buy shares traded on a stock exchange and then get benefit from dividends or capital gains. Many experts have reviewed the procedures and strategies for investing in this sector. We can read it in a more specific guidebook. Investments can also be conducted by retirees in the form of profit-sharing with business owners. We only need to invest for business owners to manage our money. Then from these efforts we get the profit-sharing. When the company losses, we will also bear the same loss as the business owner. In the investment sector, profit and loss are shared between investors and owner of business. Therefore, action of investment like this require high vigilance, because we not directly involved in the business we are in.
Even if the business owner is our own brother, we should be careful. Because in business, anything can happen. One of financial awareness concern is being vigilant about the possibility of investment misappropriation. Investment is not a gamble, so that we can measure the value of the profits and losses although not pricesly. Gambling is a very highrisk act of speculation, which benefits one person and harms another. Gambling is strictly prohibited under our national or religious law.

CONCLUSION
This study succeeded in summing up a number of things. First, financial awareness is influenced by someone's attitude. Regression analysis showed a positive significant effect. Second, other variables, namely the influence of the family (especially from the parents), did not show any sign of significance. These findings can be understood because the respondents involved in our study were all adults. They no longer depend on their parents in determining something, Third, the individual perception variable apparently also has no significant effect on financial awareness. Individual perception is intended as how we perceive money and wealth. From the results of this study it seems we need to change people's perceptions so that they have a more positive view of money. However, this research has a number of weaknesses. For example, this research was carried out only in the junior high school (SMP) and vocational high school (SMK) environments with only targeting a number of teachers. Other studies can involve more respondents so that the study can get a broader picture.