How do Financial Literacy, Financial Management Learning, Financial Attitudes and Financial Education in Families Affect Personal Financial Management in Generation Z?

Abstract

Purpose: This study aims to reveal how the influence of financial literacy, financial management learning, financial attitudes and financial education in the family on personal financial management in generation Z. Theoretical framework: The influence of digitization is of course also felt by Generation Z as a generation that certainly has various needs, both consumption needs, clothing, internet quotas, education, and so on. and other personal needs. Financial problems can be faced by Generation Z when they are not or have not been able to manage their personal finances effectively, especially with increasing digitization in every aspect of life encouraging people to behave consumptively Design/methodology/approach: This study uses quantitative research. The data collection method applied is through observation, questionnaires and documentation. The population in this study is Generation Z, and the sample is 54 respondents taken from students who are Generation Z. The data analysis used is multiple linear regression analysis. Findings: it is shown that the simultaneous testing of the four variables (X) has a significant effect on personal financial management in Generation Z (Y). However, based on a partially significant test of financial literacy variables (X1), financial attitude variables (X3) and financial education variables in the family (X4) did not have a significant effect, while the other independent variable, namely financial management learning (X2) had a significant effect on Generation Z (Y) personal finance management. Research, Practical & Social implications: Based on the conclusion, the implications in this study are (1) it is expected that the Z generationcan further improve their financial literacy and attitude in order to carry out more effective personal financial management. (2) it is hoped that parents can provide financial education to their children. Originality/value: (1) the characteristics of financial literacy do not have a positive and substantial effect on the personal financial management of generation Z. (2) The learning variables of financial management have a positive and significant effect on the personal financial management of generation Z.

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