Digital financial literacy, financial behavior on financial well-being among Generation Z

Mu'awanah, Risalatul and Mardiana, Mardiana ORCID: https://orcid.org/0000-0003-1722-0248 (2026) Digital financial literacy, financial behavior on financial well-being among Generation Z. Economics & Business Solutions Journal, 10 (1). pp. 171-190. ISSN 2580-6084

Preview

Text 29199.pdf - Published Version Available under License Creative Commons Attribution. Download (480kB) | Preview

Abstract

Financial well-being has become a challenge for Generation Z, who are in the early stages of their careers amid the rapid advancement of digital technology. Low levels of digital financial literacy have the potential to influence irrational financial behavior, which in turn affects financial well-being. This study aims to analyze the effect of digital financial literacy on financial well-being, with financial behavior serving as a mediating variable among Generation Z in Pasuruan Regency. This study employs a quantitative approach, using primary data as the main source of information. Data were collected through questionnaires distributed to Generation Z respondents who have earned income and reside in Pasuruan Regency. The sample consisted of 234 respondents. Data analysis was conducted using the Structural Equation Modeling Partial Least Squares (SEM-PLS) method with SmartPLS software. The results indicate that digital financial literacy has a positive effect on financial well-being. Financial behavior also has a positive effect on financial well-being and plays a significant mediating role in the relationship between digital financial literacy and financial well-being. These findings suggest that the level of financial well-being can be influenced by both digital financial literacy and financial behavior. The novelty of this study lies in examining the mediating role of financial behavior among Generation Z and focusing on Pasuruan Regency, a semi-urban area with socio-economic characteristics distinct from urban regions

Item Type:	Journal Article
Keywords:	digital financial literacy; financial behavior; financial well-being; generation z
Subjects:	14 ECONOMICS > 1402 Applied Economics > 140207 Financial Economics
Divisions:	Faculty of Economics > Department of Management
Depositing User:	mardiana mardiana
Date Deposited:	13 Oct 2026 10:40

Downloads

Origin of downloads

Actions (login required)

View Item