Digital Natives, Financial Novices (An Insight into Gen Z’s Financial Behavior)

the effect of financial literacy, social media, and financial technology to financial behavior

Abstrak

Abstract. Referred to as digital natives, Generation Z has grown up in an age of fast knowledge and technology development. Having rapid technological access, though, does not guarantee they have excellent financial management abilities. With a focus on their saving, investing, debt management, and how social media influences their financial choices, this study tries to examine the financial habits of Gen Z. Employing a quantitative methodology, the research sends surveys to Gen Z members between 17 and 28. Though Gen Z appreciates the significance of financial literacy, many people find it difficult to consistently follow wise financial management habits. Factors including impulse buying, a tendency toward consumerism, and the impact of internet influences particularly define their financial conduct. The findings underscore the importance of a multidimensional approach to understanding and fostering healthy financial behavior. The combination of financial literacy and advancements in financial technology should be the primary focus for policymakers, educators, and financial industry practitioners in supporting sustainable financial well-being among the public.

Keywords: Gen Z, financial habits, financial behavior, financial awareness, social media, personal money management, financial technology, financial literacy