The Influence of Lifestyle Trends on Generation Z's Financial Decisions

Florentina Panjaitan; Wardayani

doi:10.63922/ijebir.v5i04.4274

Florentina Panjaitan Program Studi Manajemen, Sekolah Tinggi Ilmu Manajemen Sukma, Medan, Indonesia
Wardayani Program Studi Manajemen Perusahaan, Sekolah tinggi Ilmu manajemen Sukma Medan, Indonesia

DOI: https://doi.org/10.63922/ijebir.v5i04.4274

Keywords: trend-based lifestyle; financial decisions; Generation Z; social media; influencers; FOMO

Abstract

The development of social media and digital trends has influenced the consumption patterns and financial behavior of Generation Z. Exposure to trends disseminated through social media, influencers, and the Fear of Missing Out (FOMO) phenomenon may affect how individuals make financial decisions. This study aims to analyze the influence of a trend-based lifestyle on the financial decisions of Generation Z in Medan City. The research employed a quantitative approach using a survey method. Data were collected through questionnaires distributed to 100 Generation Z respondents in Medan City selected using purposive sampling. Data analysis was conducted using SPSS through validity testing, reliability testing, Pearson Product Moment correlation, simple linear regression, t-test, and coefficient of determination analysis. The novelty of this study lies in the measurement of a trend-based lifestyle through indicators of social media trend following, influencer influence, and the tendency to purchase viral products or engage in FOMO-related behavior in relation to the financial decisions of Generation Z. The results indicate that a trend-based lifestyle has a positive and significant effect on the financial decisions of Generation Z, with a significant value of 0.034 and a correlation coefficient of 0.213. However, the magnitude of the effect is relatively low, as indicated by a coefficient of determination of 4.5%. These findings suggest that a trend-based lifestyle is one of the factors influencing the financial decisions of Generation Z, although most variations in financial decisions are explained by other factors beyond the scope of this study. This research contributes to the growing literature on the financial behavior of Generation Z in the digital era.

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