Sentiment Analysis of Financial Literacy Based on Digital Folklore: A Virtual Ethnographic Study of the “Finance Simp” Community on TikTok
Article Sidebar
Main Article Content
Abstract
This study explores how digital folklore shapes the sentiments and meanings of financial literacy among members of the “Finance Simp” community on TikTok. Unlike conventional financial literacy approaches that measure objective knowledge, this study uses virtual ethnography to capture the narrative and affective dimensions of consuming viral financial content. The study was conducted over five months (August-December 2025) through passive participant observation, the collection of digital archival data consisting of 120 video contents and 450 comments, and in-depth virtual interviews with 12 key informants. Data were analyzed using thematic analysis (Braun & Clarke, 2006) and sentiment analysis based on a validated custom lexicon. The results show that three digital folklore archetypes dominate this community: warning narratives, false-hope narratives, and conspiracy narratives. The main paradoxical finding is that negative sentiment dominates interactions (67.1%), yet engagement is higher than the TikTok average. The function of consuming viral financial content is not rational learning, but emotional regulation or a “financial pacifier” that provides social validation for collective anxiety. The study concludes that financial literacy cannot be separated from the narrative ecosystem in which young people learn about money; therefore, financial education interventions must consider emotional and narrative aspects, not only cognitive ones
Downloads
Article Details
Section
How to Cite
References
Allcott, H., & Gentzkow, M. (2017). Social media and fake news in the 2016 election. Journal of Economic Perspectives, 31(2), 211-236. https://doi.org/10.1257/jep.31.2.211
Anggraeni, D., & Maulida, S. (2024). The influence of financial literacy and herding bias on investment decisions among Generation Z TikTok users in DKI Jakarta. Jurnal Bisnis dan Manajemen, 11(2), 145-158.
Banerjee, A. V. (1992). A simple model of herd behavior. The Quarterly Journal of Economics, 107(3), 797-817. https://doi.org/10.2307/2118364
Bikhchandani, S., Hirshleifer, D., & Welch, I. (1992). A theory of fads, fashion, custom, and cultural change as informational cascades. Journal of Political Economy, 100(5), 992-1026. https://doi.org/10.1086/261849
Blagojević, J., & Kakampoura, R. (2025). Digital folklore: Continuity and transformation of vernacular culture in cyberspace. Glasnik Etnografskog Instituta SANU, 73(1), 15-32.
Braun, V., & Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2), 77-101.
de Seta, G. (2020). Digital folklore. In J. Hunsinger, M. M. Allen, & L. Klastrup (Eds.), Second International Handbook of Internet Research (pp. 167-183). Springer. https://doi.org/10.1007/978-94-024-1555-1_36
Fadlan, M. R., & Mutasowifin, A. (2025). The influence of social media and risk tolerance on Generation Z investment decisions. Jurnal Manajemen dan Keuangan, 14(1), 88-102.
Geertz, C. (1973). The Interpretation of Cultures. Basic Books.
Ghadafi, A., & Andriotis, N. (2025). Finfluencers and the democratization of financial literacy: Between education and promotion. University of Birmingham Business Review, 8(2), 45-62.
Gupta, S., & Shrivastava, M. (2022). Herding and loss aversion in stock markets: Mediating role of fear of missing out (FOMO) in retail investors. International Journal of Emerging Markets, 17(7), 1720-1737. https://doi.org/10.1108/IJOEM-08-2020-0933
Hayes, A. S. (2024). Under the finfluence: Financial influencers, economic subjectivity and the social media investing boom. Economy and Society. https://doi.org/10.1080/03085147.2024.2381980
Hine, C. (2015). Ethnography for the Internet: Embedded, Embodied and Everyday. Bloomsbury.
Horton, D., & Wohl, R. R. (1956). Mass communication and para-social interaction. Psychiatry, 19(3), 215-229.
Iramani, R., & Lutfi, L. (2021). The gap between financial knowledge and financial behavior among Gen Z in Indonesia. Jurnal Akuntansi dan Keuangan, 23(2), 89-98.
Kaplan, A. M., & Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of social media. Business Horizons, 53(1), 59-68. https://doi.org/10.1016/j.bushor.2009.09.003
Kietzmann, J. H., Hermkens, K., McCarthy, I. P., & Silvestre, B. S. (2011). Social media? Get serious! Understanding the functional building blocks of social media. Business Horizons, 54(3), 241-251. https://doi.org/10.1016/j.bushor.2011.01.005
Lazuardi, A. F. (2025). The influence of financial literacy, social media influencers, and FOMO on Generation Z investment interest. Jurnal Ekonomi dan Bisnis Digital, 4(1), 55-70.
Li, T., Chen, H., Liu, W., Yu, G., & Yu, Y. (2023). Understanding the role of social media sentiment in identifying irrational herding behavior in the stock market. International Review of Economics & Finance, 87, 163-179. https://doi.org/10.1016/j.iref.2023.04.016
Lusardi, A., & Mitchell, O. S. (2014). The economic importance of financial literacy: Theory and evidence. Journal of Economic Literature, 52(1), 5-44. https://doi.org/10.1257/jel.52.1.5
Mahardhika, A. S., & Zakiyah, N. (2023). Public trust level toward financial influencers on social media. Journal of Financial Literacy and Education, 2(2), 112-125.
Manurung, R. (2025). Financial literacy and herding bias toward investment decisions among Generation Z social media users in DKI Jakarta. Jurnal Bisnis, Manajemen, dan Keuangan, 6(1), 78-92.
Novitasari, D. (2025). Financial literacy, financial attitude, and locus of control toward financial management behavior among Generation Z. Jurnal Manajemen dan Bisnis, 12(1), 34-48.
Otoritas Jasa Keuangan. (2024). Survei Nasional Literasi dan Inklusi Keuangan (SNLIK) 2024. Jakarta: OJK.
Putri, F. A. (2025). The influence of financial literacy on Generation Z investment interest with motivation as an intervening variable. Jurnal Akuntansi dan Investasi, 16(1), 23-38.
Rachmawanti, D., & Yuningsih, Y. (2023). Folklor performance in digital art space: Maintaining existence in the metaverse era. Jurnal Seni dan Budaya, 11(2), 98-112.
Ramadhani, N. (2024). The relationship between digital financial literacy and online shopping consumptive behavior among Generation Z. Jurnal Psikologi Sosial, 18(1), 45-59.
Shiller, R. J. (2017). Narrative economics. American Economic Review, 107(4), 967-1004.
Wulandari, S., & Susanti, R. (2022). Development of folklore-based learning media to improve understanding of abstract concepts. Jurnal Pendidikan Dasar, 13(2), 156-170.