Determinants of Generation Z's Financial Behavior: The Role of Financial Self-Efficacy, Mental Accounting, Financial Literacy and Knowledge
DOI:
https://doi.org/10.24905/icobis.v2i1.102Keywords:
financial self-efficacy, mental accounting, financial literacy, financial knowledge, financial behaviorAbstract
This study aims to analyze the effect of financial self-efficacy, mental accounting, financial literacy, and financial knowledge on the financial behavior of Generation Z, with social media as a moderating variable, in Tegal Regency. A quantitative descriptive approach was used, involving 400 respondents selected through random sampling, with data collected via offline and online questionnaires. Data were analyzed using Moderated Regression Analysis (MRA) processed with SPSS 22. The findings show that financial self-efficacy, mental accounting, financial literacy, and financial knowledge each have a positive and significant effect on financial behavior, while social media fails to strengthen or weaken these relationships. These results suggest that healthy financial behavior among Generation Z is shaped more directly by internal psychological and cognitive factors than by exposure to social media content. This study contributes to the behavioral finance literature by testing an integrated model that combines self-efficacy, mental accounting, financial literacy, and financial knowledge within the Theory of Planned Behavior framework, and it offers practical implications for individuals, financial authorities, and financial service providers seeking to strengthen sound financial habits among young people.
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