Pengaruh Literasi Keuangan Digital dan Gaya Hidup Terhadap Perilaku Pengelolaan Keuangan Pribadi Generasi Z di STIEPARI Semarang

Intan Purnama Halawa; Bayu Ade Prabowo

doi:10.55606/jaemb.v6i2.10686

Authors

Intan Purnama Halawa Sekolah Tinggi Ilmu Ekonomi Pariwisata Indonesia
Bayu Ade Prabowo Sekolah Tinggi Ilmu Ekonomi Pariwisata Indonesia https://orcid.org/0009-0000-7103-2032

DOI:

https://doi.org/10.55606/jaemb.v6i2.10686

Keywords:

digital financial literacy, lifestyle, financial management behavior, Generation Z, STIEPARI Semarang, multiple linear regression

Abstract

Generation Z students, as digital natives, face unique challenges in personal financial management amid rapid digital financial service growth. This study examines the influence of digital financial literacy and lifestyle on personal financial management behavior among Generation Z students at STIEPARI Semarang. Using a quantitative causal approach with census sampling technique, data were collected from 29 respondents through structured questionnaires distributed online during January 19–22, 2026. Multiple linear regression analysis reveals that digital financial literacy has a significant positive effect on personal financial management behavior (β = 1.180, t = 4.991, p < 0.001), while lifestyle does not significantly influence financial management behavior (β = −0.102, t = −0.503, p = 0.619). Simultaneously, both variables significantly affect personal financial management behavior (F = 29.670, p < 0.001) with an R² of 69.5%, indicating a strong predictive model. These findings confirm the Theory of Planned Behavior and Financial Literacy Theory in the digital context, demonstrating that digital financial literacy is the dominant factor shaping Generation Z's financial management behavior. A key theoretical contribution is the confirmation that digital competency extends traditional financial literacy frameworks, while the practical contribution lies in evidence-based recommendations for curriculum integration in small private higher education institutions. Research limitations include small sample size (n = 29) and high multicollinearity between independent variables, suggesting future research should expand samples across multiple institutions and incorporate moderating variables such as financial attitude and financial self-efficacy.

References

[1] C. Nurlaila, Q. Aini, S. Setyawati, and A. Laksana, “Dinamika Perilaku Gen Z Sebagai Generasi Internet,” Konsensus J. Ilmu Pertahanan, Huk. dan Ilmu Komun., vol. 1, no. 6, pp. 95–102, Nov. 2024, doi: 10.62383/konsensus.v1i6.464.

[2] Badan Pusat Statistik, “Hasil Sensus Penduduk 2020,” BPS RI. Accessed: Mar. 03, 2026. [Online]. Available: https://sensus.bps.go.id/topik/tabular/sp2020/2/0/0

[3] P. A. K. Weda, I. G. N. O. Ariwangsa, I. G. A. Tirtayani, and P. P. Dewi, “Pengelolaan Keuangan Gen Z yang Dipengaruhi Inkusi Keuangan, Dompet Digital dan Literasi Keuangan sebagai Moderasi,” INOVASI, vol. 12, no. 2, pp. 407–419, Dec. 2025, doi: 10.32493/Inovasi.v12i2.p407-419.54307.

[4] OJK, “Survei Nasional Literasi dan Inklusi Keuangan (SNLIK) 2024,” 2024, Otoritas Jasa Keuangan, Jakarta. [Online]. Available: https://ojk.go.id/id/berita-dan-kegiatan/publikasi/Pages/Survei-Nasional-Literasi-dan-Inklusi-Keuangan-(SNLIK)-2024.aspx

[5] Bank Indonesia, “Laporan Perekonomian Indonesia Triwulan III 2023,” Jakarta, 2023. [Online]. Available: https://www.bi.go.id/id/publikasi/laporan/Documents/LKBI-Tw.III-2023.pdf

[6] M. Dimock, “Defining generations: Where Millennials end and Generation Z begins,” Pew Research Center. Accessed: Jan. 10, 2026. [Online]. Available: https://www.pewresearch.org/short-reads/2019/01/17/where-millennials-end-and-generation-z-begins/?gad_source=1&gad_campaignid=22378837192&gbraid=0AAAAA-ddO9Gvds6rp4h8GxuexEhc7YSDO&gclid=Cj0KCQiA-NHLBhDSARIsAIhe9X3uxiSBp7mv2RY847A_Z0K_fLXETlzVocQp_nbECzhEj

[7] A. C. Lyons, J. Kass-Hanna, and A. Fava, “Fintech development and savings, borrowing, and remittances: A comparative study of emerging economies,” Emerg. Mark. Rev., vol. 51, p. 100842, Jun. 2022, doi: 10.1016/j.ememar.2021.100842.

[8] R. Rahayu, “Analisis Faktor-Faktor yang Mempengaruhi Tingkat Literasi Keuangan Digital: Studi pada Generasi Z di Indonesia,” Reviu Akunt. dan Bisnis Indones., vol. 6, no. 1, pp. 74–87, May 2022, doi: 10.18196/rabin.v6i1.14268.

[9] D. K. Respati, U. Widyastuti, T. Nuryati, A. M. Musyaffi, B. D. Handayani, and N. R. Ali, “How do students’ digital financial literacy and financial confidence influence their financial behavior and financial well-being?,” Nurture, vol. 17, no. 2, pp. 40–50, Mar. 2023, doi: 10.55951/nurture.v17i2.154.

[10] J. M. Rodriguez, D. C. Labong, and L. Palallos, “The Mediation of Financial Behavior to Financial Literacy and Spending Habits of Gen Z: An Exploratory Factor Analysis,” J. Glob. Aware., vol. 5, no. 2, pp. 1–21, Dec. 2024, doi: 10.24073/jga/5/02/05.

[11] Y. Choung, S. Chatterjee, and T.-Y. Pak, “Digital financial literacy and financial well-being,” Financ. Res. Lett., vol. 58, p. 104438, Dec. 2023, doi: 10.1016/j.frl.2023.104438.

[12] A. Gunawan, W. S. Pirari, and M. Sari, “Pengaruh Literasi Keuangan dan Gaya Hidup Terhadap Pengelolaan Keuangan Mahasiswa Prodi Manajemen Universitas Muhammadiyah Sumatera Utara,” J. Hum. J. Ilmu Sos. Ekon. dan Huk., vol. 4, no. 2, pp. 23–35, Oct. 2020, doi: 10.30601/humaniora.v4i2.1196.

[13] R. Paramitalaksmi, W. Astuti, and H. D. Aviva, “The Influence of Financial Literacy and Lifestyle Against Consumptive Behavior of Generation Z during the Covid-19 Pandemic,” Ilomata Int. J. Soc. Sci., vol. 3, no. 4, pp. 418–428, Oct. 2022, doi: 10.52728/ijss.v3i4.589.

[14] M. J. Silverstein, A. Singhi, C. Liao, and D. Michael, THE $10 TRILLION PRIZE: Captivating the Newly Affluent in China and India. Harvard Business Review Press, 2012.

[15] Suyanto and Y. M. V. Kenale Sada, “Pengaruh Literasi Keuangan, Gaya Hidup dan Lingkungan Sosial Terhadap Perilaku Keuangan Mahasiswa,” J. Literasi Akunt., vol. 2, no. 2, pp. 86–99, May 2022, doi: 10.55587/jla.v2i2.35.

[16] M. F. Zulfialdi and M. Sulhan, “PENGARUH LITERASI KEUANGAN, GAYA HIDUP DAN PENGENDALIAN DIRI TERHADAP PERILAKU KEUANGAN PADA MAHASISWA PTKIN DI JAWA TIMUR,” J. Ilm. Manajemen, Ekon. Akunt., vol. 7, no. 2, pp. 807–820, Jun. 2023, doi: 10.31955/mea.v7i2.3056.

[17] H. Sugiharti and K. A. Maula, “Pengaruh Literasi Keuangan Terhadap Perilaku Pengelolaan Keuangan Mahasiswa,” Accounthink J. Account. Financ., vol. 4, no. 2, Oct. 2019, doi: 10.35706/acc.v4i2.2208.

[18] J. H. Napitupulu, N. Ellyawati, and R. F. Astuti, “Pengaruh Literasi Keuangan dan Sikap Keuangan Terhadap Perilaku Pengelolaan Keuangan Mahasiswa Kota Samarinda,” J. Pendidik. Ekon., vol. 9, no. 3, pp. 138–144, Sep. 2021, doi: 10.26740/jupe.v9n3.p138-144.

[19] K. Kahfi and A. Risman, “Pengaruh Literasi Keuangan, Gaya Hidup, dan Lingkungan Sosial terhadap Perilaku Keuangan Mahasiswa di Jakarta,” J. Ilmu Ekon. dan Sos., vol. 12, no. 2, 2023, doi: https://dx.doi.org/10.22441/jies.v12i2.24507.

[20] C. T. Widiastuti, N. Universari, and I. N. Setiawan, “DETERMINAN PERILAKU KONSUMTIF BELANJA ONLINE GENERASI Z DI KOTA SEMARANG,” J. Manaj. Bisnis dan Terap., vol. 1, no. 2, pp. 121–133, Jul. 2023, doi: 10.20961/meister.v1i2.748.

[21] A. Demirgüç-Kunt, L. Klapper, D. Singer, and S. Ansar, The Global Findex Database 2021. The World Bank, 2022. doi: 10.1596/978-1-4648-1897-4.

[22] L. W. P. Y. Arta, D. Prapanca, and Sriyono, “The Influence Of Financial Knowledge, Financial Attitudes, Locus Of Control And Self-Efficacy On The Financial Behavior Of Generation Z In Sidoarjo,” J. Econ. Bus. Account., vol. 7, no. 5, pp. 1840–1849, 2024.

[23] B. T. Gultom, S. R. HS, and L. Siagian, “Dampak Literasi Keuangan Terhadap Perilaku Keuangan Mahasiswa (Studi Kasus di Universitas HKBP Nommensen Pematang Siantar),” J. Pendidik. Ekon. Undiksha, vol. 14, no. 1, pp. 135–145, Jun. 2022, doi: 10.23887/jjpe.v14i1.46896.

[24] S. Arikunto, Prosedur Penelitian. Jakarta: Rineka Cipta, 2019.

[25] I. Ajzen, “The theory of planned behavior,” Organ. Behav. Hum. Decis. Process., vol. 50, no. 2, pp. 179–211, Dec. 1991, doi: 10.1016/0749-5978(91)90020-T.

[26] A. Lusardi and O. S. Mitchell, “The Economic Importance of Financial Literacy: Theory and Evidence,” J. Econ. Lit., vol. 52, no. 1, pp. 5–44, Mar. 2014, doi: 10.1257/jel.52.1.5.

[27] J. J. Xiao and B. O’Neill, “Consumer financial education and financial capability,” Int. J. Consum. Stud., vol. 40, no. 6, pp. 712–721, Nov. 2016, doi: 10.1111/ijcs.12285.

[28] I. Ajzen, “Constructing a Theory of Planned Behaviour Questionnaire: Conceptual and Methodological Consideration,” 2006. [Online]. Available: https://people.umass.edu/aizen/pdf/tpb.measurement.pdf

[29] A. Lusardi and O. S. Mitchell, “Baby Boomer retirement security: The roles of planning, financial literacy, and housing wealth,” J. Monet. Econ., vol. 54, no. 1, pp. 205–224, Jan. 2007, doi: 10.1016/j.jmoneco.2006.12.001.

[30] H. Prasad, D. Meghwal, and V. Dayama, “Digital Financial Literacy: A Study of Households of Udaipur,” J. Bus. Manag., vol. 5, pp. 23–32, Dec. 2018, doi: 10.3126/jbm.v5i0.27385.

[31] U. Widyastuti, D. K. Respati, V. I. Dewi, and A. M. Soma, “The nexus of digital financial inclusion, digital financial literacy and demographic factors: lesson from Indonesia,” Cogent Bus. Manag., vol. 11, no. 1, Dec. 2024, doi: 10.1080/23311975.2024.2322778.

[32] W. R. Wan Nawang and S. Abdul Shukor, “Digital Financial Literacy Among Young Adults in Malaysia,” Int. Bus. Educ. J., vol. 16, no. 2, pp. 115–126, Dec. 2023, doi: 10.37134/ibej.Vol16.2.9.2023.

[33] B. Jhonson, R. Andriani, I. Noviana, and D. Tamara, “INFLUENCE OF DIGITAL FINANCIAL LITERACY ON FINANCIAL WELL-BEING THROUGH SPENDING, SAVING, AND INVESTMENT BEHAVIOR IN INDONESIA,” J. Bus. Stud. MANGEMENT Rev., vol. 6, no. 2, pp. 157–168, Jun. 2023, doi: 10.22437/jbsmr.v6i2.24793.

[34] G. G. Gosal and R. Nainggolan, “The Influence of Digital Financial Literacy on Indonesian SMEs’ Financial Behavior and Financial Well-Being,” Int. J. Prof. Bus. Rev., vol. 8, no. 12, p. e04164, Dec. 2023, doi: 10.26668/businessreview/2023.v8i12.4164.

[35] J. T. Plummer, “The Concept and Application of Life Style Segmentation,” J. Mark., vol. 38, no. 1, p. 33, Jan. 1974, doi: 10.2307/1250164.

[36] M. R. Solomon and C. A. Russell, Consumer Behavior: Buying, Having, Being, 14th ed. Pearson, 2024.

[37] M. Z. Pohan, T. A. Nasution, and S. Pohan, “Gaya Hidup Konsumtif Generasi Z dalam Era Belanja Daring Indonesia),” J. Ilmu Sos. Hum. Indones., vol. 4, no. 2, pp. 237–246, Jan. 2025, doi: 10.52436/1.jishi.205.

[38] Y. Wiranti, G. Goso, and M. Halim, “THE INFLUENCE OF FINANCIAL LITERACY, LIFESTYLE, AND SOCIAL ENVIRONMENT ON STUDENT FINANCIAL BEHAVIOR,” Sci. J. Reflect. Econ. Accounting, Manag. Bus., vol. 6, no. 4, pp. 898–909, Oct. 2023, doi: 10.37481/sjr.v6i4.751.

[39] F. Eko Saputra and A. R. Amani, “The Effect of Social Media Marketing on Hedonic Shopping Value Through Online Impulsive Buying of Fashion Products (Research On Generation Z In Bandung),” Asian J. Soc. Humanit., vol. 1, no. 11, pp. 941–948, Aug. 2023, doi: 10.59888/ajosh.v1i11.89.

[40] A. Setiawan, M. Rahmattullah, Nurlaila, and R. Adawiyah, “The Influence of Financial Behavioral Dimensions on Student Financial Management,” Pegem J. Educ. Instr., vol. 15, no. 1, pp. 171–180, Jan. 2025, doi: 10.47750/pegegog.15.01.15.

[41] J. Dew and J. J. Xiao, “The Financial Management Behavior Scale: Development and Validation,” J. Financ. Couns. Plan., vol. 22, no. 1, pp. 43–59, 2011, [Online]. Available: http://afcpe.org/journal-articles.php?volume=387&article=403

[42] J. J. Xiao, “Applying Behavior Theories to Financial Behavior,” in Handbook of Consumer Finance Research, New York, NY: Springer New York, 2008, pp. 69–81. doi: 10.1007/978-0-387-75734-6_5.

[43] D. Novitasari, J. Juliana, M. Asbari, and A. Purwanto, “The Effect of Financial Literacy, Parents’ Social Economic and Student Lifestyle on Students Personal Financial Management,” Econ. Educ. Anal. J., vol. 10, no. 3, pp. 522–531, Oct. 2021, doi: 10.15294/eeaj.v10i3.50721.

[44] F. Rohmanto and A. Susanti, “PENGARUH LITERASI KEUANGAN, LIFESTYLE HEDONIS, DAN SIKAP KEUANGAN PRIBADI TERHADAP PERILAKU KEUANGAN MAHASISWA,” ECOBISMA (JURNAL Ekon. BISNIS DAN MANAJEMEN), vol. 8, no. 1, pp. 40–48, Sep. 2021, doi: 10.36987/ecobi.v8i1.2057.

[45] Sugiyono, Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung: Alfabeta, 2019.

[46] I. Ghozali, Aplikasi Analisis Multivariate Dengan Program IBM SPSS 25 (Edisi 9), 9th ed. Semarang: Badan Penerbit Universitas Diponegoro, 2018.

[47] B. G. Tabachnick and L. S. Fidell, Using multivariate statistics, 5th ed. Boston, MA: Allyn & Bacon/Pearson Education, 2007.

[48] M. Setiawan, N. Effendi, T. Santoso, V. I. Dewi, and M. S. Sapulette, “Digital financial literacy, current behavior of saving and spending and its future foresight,” Econ. Innov. New Technol., vol. 31, no. 4, pp. 320–338, May 2022, doi: 10.1080/10438599.2020.1799142.