Gen-Z financial keys: the impact of self-control and financial literacy mediated financial behavior

Yandi Suprapto(1*), Sania Valentina(2), Hery Haryanto(3),

(1) Universitas Internasional Batam
(2) Universitas Internasional Batam
(3) Universitas Internasional Batam
(*) Corresponding Author

Abstract


This study investigates the relationship between self-control and financial literacy on the financial well-being of Generation Z, with financial behavior serving as a mediating variable. A quantitative research design was employed, utilizing a convenience sampling technique by distributing questionnaires to Gen-Z individuals residing in Batam. The final sample consisted of 415 respondents, and the data were analyzed using partial least squares structural equation modeling (PLS-SEM). The structural model assessment reveals that both financial literacy and financial behavior exert a significant positive influence on financial well-being, whereas self-control does not exhibit a direct significant impact. Nonetheless, financial behavior effectively mediates the relationship between self-control, financial literacy with financial well-being. These findings highlight the crucial role of enhancing financial literacy and fostering sound financial behavior to improve the financial well-being of the younger generation.

Keywords


Generation-Z, Financial well-being, Financial behavior, Financial literacy, Self-control.

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References


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DOI: https://doi.org/10.24123/mabis.v24i2.974

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