Self management and entrepreneurial mindset to support the MSMEs owner’s financial well-being

Figures & data

Figure 1. Research model.

Table 1. Variables and Questionnaire Items

Variable	Questionnaire Items
Financial Well-Being	What is the level of financial stress?
	How happy and satisfied are you with your current financial situation?
	How often do you worry about being able to meet normal monthly living expenses?
	How often does this happen? Wanting to go out to eat, go on vacation, or do something else and not going because you can’t afford it?
	How often do you find yourself just surviving financially and living paycheck to paycheck?
	How stressed do you feel about your personal finances in general?
Money Attitude	Using money to influence others to do something
	Emphasizing the amount of money one has as a sign of success
	Behave as if money is the ultimate symbol of success
	Trying to find out if other people make more money
	When buying something, complain about the price paid
	Hesitant to spend money, even on basic necessities
	Showing signs of nervousness when not having enough money
	Shows worrying behavior when it comes to money
Self-Mangement	Make a to-do list for each task
	Create a schedule to help yourself complete tasks on time
	Think often about how to manage my time better.
	Pay special attention to developing skills that are important for a future career
	Set long-term goals for myself.
	Controlling my mood very well.
	Control my emotions very well, even when I am angry with someone.
	Looking positively at every situation, even when in trouble.
	When depressed, do something to make myself happy.
	Good at handling problems that arise in relationships with others.
Entrepreneurial Mindset	Frequently seek information about entrepreneurial activities
	Feel reasonably confident that I have or can acquire the necessary knowledge to undertake entrepreneurial activities.
	Feel that the right time to undertake entrepreneurial activities is now.
	Decided to undertake an entrepreneurial activity.
	Have a plan/strategy on how to undertake entrepreneurial activities.
	When I see an opportunity, I will take advantage of it and carry out entrepreneurial activities.
	When having a business idea, trying to realize it into entrepreneurial activities.

Table 2. Characteristics of respondents

		(N = 150)
Variables		N	%
Business Category
Micro		37	24.67%
Small		112	74.67%
Medium		1	0.67%
Business Product
Culinary		42	28.00%
Craft		15	10.00%
Automotive		7	4.67%
Fashion		29	19.33%
Others (Printing, Daily Shop etc)		57	38.00%
Education
High School		144	96.00%
Bachelor’s Degree		6	4.00%
Gender
Male		66	44.00%
Female		84	56.00%

Source: Authors

Table 3. Normality test results

	Unstandardized Residual
N	150
Asymp. Sig. (2-tailed)	.060

Source: The Processed Secondary Data (2023)

Table 4. Multicollinearity test results

Variable	Tolerance	Variance Inflation Factor (VIF)
Money Attitude (X)	0.944	1.060
Self-Management (Z1)	0.907	1.102
Entrepreneurial Mindset (Z2)	0.937	1.068

Source: The Processed Secondary Data (2023)

Table 5. Heteroscedasticity test results

Model		t	Sig.
1	(Constant)	2.057	.041
	X	−1.200	.232

Source: The Processed Secondary Data (2023)

Table 6. First hypothesis Testing results

Model		t	Sig.
1	(Constant)	7.493	.000
	X	3.168	.002

Source: The Processed Secondary Data (2023)

Table 7. Second hypothesis Testing results

Model	Sig.
Money Attitude(X)	0.006
Self-Management (Z1)	0.000
Money Attitude * Self-Management (X*Z1)	0.000

Source: The Processed Secondary Data (2023)

Table 8. Third hypothesis Testing results

Model	Sig.
Money Attitude(X)	0.000
Entrepreneurial Mindset (Z2)	0.000
Money Attitude * Entrepreneurial Mindset (X*Z2)	0.000

Source: The Processed Secondary Data (2023)