18 CHAPTER III RESEARCH METHODOLOGY III.1 Design of The Research This research starts with the topic findings process within financial sectors, specifically about financial literacy and digital financial inclusion. After several journal reviews, there is an interested problem about the digital divide that often be encountered among elderly which is related to the digital financial inclusion topics of finance. This research then explores more about the problems that is potentially can be used for the basis of this research. After recognizing the problem of the research, the researcher doing a literature review from previous study which similar with the topics that is going to be brought up within this research. This process aims to consider more about the possibility connection between this research’s variables. After doing the literature review, this research then focuses on constructing the comprehensive outlook of this research. The details of the outlook of this research can be seen on the table III.1 below. Table III.1 Research Outlook Element Description Research Qualifications Quantitative Research Research Objectives Examining the direct and indirect effect of the independent variables (digital literacy and financial literacy) and the mediating variable (digital financial inclusion) towards the Indonesia’s elderly subjective well-being which includes health, psychological, and life satisfaction. Type of Data Descriptive data, 5-point Likert scale, 7-point Likert scale, dichotomies scale, multiple choices. Data Gathering Methods Online questionnaire using Google Form and paper-based questionnaires. Data Analysis Quantitative analysis Data Processing Method Partial Least Squares – Structural Equation Modeling (PLS – SEM) Instrument 3 exogenous variables and 2 endogenous variables. The Data Population Indonesia people with the age ≥ 55 years old. 19 Number of Needed Sample ≥ 150 respondents Instrument for Data Processing Microsoft Excel, SPSS, SmartPLS4 This research uses two independent variables which are the digital literacy and financial literacy. Other than that, this research also uses the digital financial inclusion as the mediating variable. For the dependent variable, this research uses health, psychological, and life satisfaction variables as part of the subjective well-being. In order to measure the causal effect of each variable, this research uses the quantitative approach for the research methodology and results analysis. Because of that, the researchers do a literature review about each variable within this research and formulate some hypothesis for the relation of each variable within this research. The next step that is taken is to search for the questionnaires that can measured each of variables within this research. This research uses several types of data such as descriptive statistics, 5-point Likert scale, 7-point Likert scale, and Dichotomies scale. After that, the online and paper-based questionnaires were being made and distributed to the target respondents, which are Indonesian’s people with the age ≥ 55 years old.