The Influence of Financial Literacy and Digital Literacy on the Financial Behavior of Generation Z in Indonesia

Abstrak

This study aims to analyze the influence of financial literacy and digital literacy on the financial behavior of Generation Z in Indonesia. Using a quantitative approach, data were collected through a survey of 30 respondents aged 18–28 years who actively use digital financial services. The variables measured include financial literacy (knowledge, attitudes, awareness, experience, and skills), digital literacy (social networking, privacy management, content handling, and broadcasting), and financial behavior (consumption, cash flow management, credit, saving, and investment). Multiple linear regression analysis was conducted using SPSS. The results show that both financial literacy and digital literacy simultaneously have a significant effect on financial behavior (R² = 0.54). Partially, financial literacy has a significant positive effect on financial behavior (p = 0.004), while digital literacy does not significantly affect financial behavior (p = 0.375). These findings indicate that financial literacy plays a more dominant role in shaping the financial behavior of Generation Z compared to digital literacy. This study contributes to consumer behavior and financial management literature by highlighting the importance of strengthening financial education, supported by digital innovation, to improve the financial well-being of young generations in Indonesia.