The Influence of Financial Literacy, Fintech and Lifestyle on Financial Management Behavior of Generation Z in Cimahi City

Abstract

Financial management behavior reflects how individuals independently handle, utilize, and organize their financial resources. This study aims to determine the influence of financial literacy, fintech payment usage, and a hedonistic lifestyle on the financial management behavior of Generation Z in Cimahi City, both partially and simultaneously. A quantitative approach utilizing multiple regression analysis was employed. Descriptive analysis was also applied to outline the state of financial literacy, fintech payment usage, hedonistic lifestyles, and financial management behavior among Generation Z in Cimahi City. Prior to hypothesis testing, the data underwent classical assumption testing to ensure the validity of the regression model. The study population consisted of Generation Z individuals residing in Cimahi City. A purposive sampling technique was used, with respondents required to be aged 17–29 and belong to the Generation Z demographic in Cimahi City. Sample size determination was conducted using G-Power software, resulting in a total sample of 155 respondents. Data processing was performed using IBM SPSS 27. The findings confirm that financial literacy, fintech payment usage, and a hedonistic lifestyle each have a positive influence on financial management behavior. Furthermore, financial literacy, fintech payment usage, and a hedonistic lifestyle simultaneously a positive influence on financial management behavior. The study's implications suggest that improving financial literacy, utilizing fintech payments wisely, and aligning one's lifestyle can foster more optimal financial management behavior among Generation Z in Cimahi City. Consequently, Generation Z needs to continuously enhance their financial understanding, leverage financial technology to monitor expenses, maintain balance fulfilling their lifestyle.