Analysis of the financial literacy level of Micro, Small and Medium Enterprises (MSMEs) in Jember, East Java, Indonesia

The Micro, Small and Medium Enterprises (MSMEs) are the economic actors who can support the Indonesian economy. The MSMEs need to have the ability in the field of finance (financial literacy). Capabilities in finance include financial planning, financial management, financial products, and business financing. The phenomenon that exists in Jember, East Java is still few who understand about financial literacy. This study aims to analyze the level of financial literacy among MSMEs in Jember, East Java. This type of research is a descriptive study with a qualitative approach. The subjects of this study were 40 people who were MSMEs in Jember, East Java. Data collection methods used consisted of interview methods, document methods, and observation methods. Analysis of the data used by using descriptive qualitative analysis. The results showed that the financial literacy of MSMEs in Jember was in the medium category. They should improve their understanding of personal finance, especially in the area of investment.