The Influence of Financial Literacy, Financial Self-Efficacy, and Financial Technology on Generation Z's Financial Behavior in Makassar
Keywords:
Keywords: Financial Literacy, Financial Self-Efficacy, Financial Technology
Abstract
Financial behavior refers to an individual’s ability to manage finances and make appropriate financial decisions to achieve financial well-being. Generation Z in Makassar City has broad access to digital information and technology-based financial services, requiring adequate financial literacy and financial self-efficacy to utilize financial technology effectively. This study aims to analyze the effects of financial literacy, financial self-efficacy, and financial technology on the financial behavior of Generation Z in Makassar City and provide empirical evidence by examining these factors simultaneously. This quantitative study used primary data collected through questionnaires distributed to Generation Z in Makassar City. The sampling technique employed non-probability sampling with purposive sampling. Based on Hair et al.’s Rule of Thumb, 160 respondents were selected from 16 indicators. Data were analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS) with SmartPLS version 4.1.1.6. The results show that financial literacy, financial self-efficacy, and financial technology have positive and significant effects on financial behavior. The R-square value of 0.686 indicates that these variables explain 68.6% of the variation in financial behavior.
References
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Putri, A. E. J., & Octavatiya, A. J. (2023). Perilaku Keuangan Pengguna E-Wallet di Kudus: Financial Technology, Demografi, Literasi Keuangan Dan Lifestyle Sebagai Prediktor. Jurnal Ekonomi Dan Bisnis Digital (Ekobil), 2(2), 8–15. https://doi.org/10.58765/ekobil.v2i2.154
Radianto, W. E. D., & Pramudita, N. A. (2024). Interaction of mental accounting, financial self-efficacy, and financial attitude on financial behavior. (2).
Rasyid, N., Goso, L., & Ikbal, M. (2025). The Influence of Financial Technology and Financial Literacy on Financial Behavior in the Digital Era. International Journal of Management Science and Information Technology, 5(1), 116–123. https://doi.org/10.35870/ijmsit.v5i1.3578
Rusnawati, R., Farild, M., & Ms, E. I. (2022). The Fintech E-Payment: The Impact to Financial Behavior. LAA MAISYIR: Jurnal Ekonomi Islam, 9(1), 20–32. https://doi.org/10.24252/lamaisyir.v9i1.23793
Sabrin, Nur Afiat, M., & Aso, L. (2025). The Effect of Financial Knowledge and Self-Efficacy on Students’ Financial Management Behavior in Indonesia. International Journal of Research and Review, 12(1), 351–359. https://doi.org/10.52403/ijrr.20250144
Santika, R. & Yuhasril. (2025). Pengaruh Digital payment, Literasi Keuangan, dan Sikap Keuangan Terhadap Perilaku Keuangan Generasi Z. Jurnal Akuntansi, Manajemen, dan Perencanaan Kebijakan, 3(1), 17. https://doi.org/10.47134/jampk.v3i1.903
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Siregar, M. A., & Pratiwi, P. D. (2024a). Pengaruh Literasi Keuangan Terhadap Perilaku Keuangan Generasi Z Dengan Gaya Hidup Sebagai Variabel Intervening. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 8(3), 3068–3083. https://doi.org/10.31955/mea.v8i3.4862
Sufyati Hs & Alvi Lestari. (2022). Pengaruh Literasi Keuangan, Inklusi Keuangan dan Gaya Hidup Terhadap Perilaku Keuangan Pada Generasi Milenial. Jurnal Multidisiplin Madani, 2(5), 2415–2430. https://doi.org/10.55927/mudima.v2i5.396
Wahyuni, E. D., & Raprayogha, R. (2021). Pengaruh Financial Knowledge, Financial Attitude, Financial Experience, Dan Income Terhadap Financial Behavior Pada Nasabah Kpn Al-Muawwanah Uin Alauddin Makassar.
Wardani, A. K., & Lutfi, L. (2019). Pengaruh literasi keuangan, experienced regret, risk tolerance, dan motivasi pada keputusan investasi keluarga dalam perspektif masyarakat Bali. Journal of Business & Banking, 6(2). https://doi.org/10.14414/jbb.v6i2.996
Widyakto, A., Liyana, Z. W., & Rinawati, T. (2022). The influence of financial literacy, financial attitudes, and lifestyle on financial behavior. Diponegoro International Journal of Business, 5(1), 33–46. https://doi.org/10.14710/dijb.5.1.2022.33-46
BPS. (2025). Mengenal Gen Z, Generasi Rawan Depresi hingga Si Paling Self Reward-Berita dan Siaran Pers. https://kotabarukab.bps.go.id/id/news/2025/05/19/345/mengenal-gen-z-generasi-rawan-depresi-hingga-si-paling-self-reward.html
Cahyatullah, S., & Hambali, D. (2024). Pengaruh Financial Self Efficacy Dan Mental Accounting Terhadap Perilaku Keuangan Generasi-Z Di Kabupaten Sumbawa. 09.
Chong, K. F., Sabri, M. F., Magli, A. S., Abd Rahim, H., Mokhtar, N., & Othman, M. A. (2021). The Effects of Financial Literacy, Self-Efficacy and Self-Coping on Financial Behavior of Emerging Adults. The Journal of Asian Finance, Economics and Business, 8(3), 905–915. https://doi.org/10.13106/JAFEB.2021.VOL8.NO3.0905
DataIndonesia. (2024). Hasil Survei Jenis Fintech yang Paling Banyak Dimiliki Warga Indonesia. Data Indonesia: Data Indonesia for Better Decision. Valid, Accurate, Relevant. https://dataindonesia.id/ekonomi-digital/detail/hasil-survei-jenis-fintech-yang-paling-banyak-dimiliki-warga-indonesia
Desilfa, Y., & Suriyanti, L. H. (2025). Pengaruh Literasi Keuangan, Inklusi Keuangan, dan Gender Terhadap Perilaku Keuangan pada Generation (Z).
Dew, J., & Xiao, J. J. (2011). The Financial Management Behavior Scale: Development and Validation. 22(1).
Dewi, L., & Sandriana, R. (2025). The Influence of Financial Literacy, Financial Self-Efficacy and Locus of Control on the Financial Behavior of Ciputra University Students. Dinasti International Journal of Economics, Finance & Accounting, 6(1), 673–683. https://doi.org/10.38035/dijefa.v6i1.4104
Elsalonika, A., & Ida, I. (2025b). Perilaku keuangan Generasi Z: Peran penerapan financial technology, literasi keuangan, dan efikasi diri. Jurnal Manajemen Bisnis Dan Kewirausahaan, 9(2), 365–379. https://doi.org/10.24912/jmbk.v9i2.32838
Farid, Misbah, M., Siti Mazilatus Sholikha, Deddy Setiawan, Vina Budiarti Mustika Sari, M. Riadhos Solichin, & Naning Eko Noviana. (2024). The Role of Fintech as a Mediator in the Influence of Economic Literacy on Impulsive Buying Behavior. Akuntansi Pajak Dan Kebijakan Ekonomi Digital, 1(4), 65–76. https://doi.org/10.61132/apke.v1i4.534
Fauziyah, N., Rachmaniyah, F., Shoimah, S., & Rosyid, S. S. (2025). Pengaruh Financial Literacy, Financial Inclusion Dan Financial Technology Terhadap Perilaku Keuangan Pada Generasi Z. Bisman (Bisnis Dan Manajemen): The Journal of Business and Management, 8(3), 739–754. https://doi.org/10.36815/bisman.v8i3.4414
Fitri, N. A., & Sulkiah, S. (2025). The Influence Of Financial Literacy, Financial Technology (Fintech) And Social Environment On Financial Behavior Of Students Of The Faculty Of Economics, Class 2022-2023. EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi Dan Bisnis, 13(4). https://doi.org/10.37676/ekombis.v13i4.8341
Ghozali, I. (2015). Aplikasi analisis multivariate dengan program SPSS (Ed. 4). Badan Penerbit Universitas Diponegoro.
Kusnandar, D. L., & Kurniawan, D. (2020). Literasi Keuangan Dan Gaya Hidup Ibu Rumah Tangga Dalam Membentuk Perilaku Keuangan Di Tasikmalaya. Sains: Jurnal Manajemen dan Bisnis, 13(1), 123. https://doi.org/10.35448/jmb.v13i1.7920
Kusumawati, R., Ginting, M. B. B., & Jagad, D. J. (2025). Financial Technology as a Strengthening Factor in Shaping Financial Behavior: Teknologi Keuangan sebagai Faktor Penguat dalam Pembentukan Perilaku Keuangan. Indonesian Journal of Innovation Studies, 26(4). https://doi.org/10.21070/ijins.v26i4.1805
Lown, J. M. (2011). 2011 Oustanding AFCPE® Conference Paper: Development and Validation of a Financial Self-Efficacy Scale. 22(2).
Nogueira, M. C., Almeida, L., & Tavares, F. O. (2025). Financial Literacy, Financial Knowledge, and Financial Behaviors in OECD Countries. Journal of Risk and Financial Management, 18(3), 167. https://doi.org/10.3390/jrfm18030167
Nurika, D. (2025). Pengaruh Financial Technology, Literasi Keuangan, dan Gaya Hidup Terhadap Perilaku Keuangan. JIBEMA: Jurnal Ilmu Bisnis, Ekonomi, Manajemen, dan Akuntansi, 2(4), 234–250. https://doi.org/10.62421/jibema.v2i4.125
Pramedi, A. D., & Haryono, N. A. (2021). Pengaruh Financial Literacy, Financial Knowledge, Financial Attitude, Income dan Financial Self Efficacy terhadap Financial Management Behavior Entrepreneur Lulusan Perguruan Tinggi di Surabaya. Jurnal Ilmu Manajemen, 9(2), 572. https://doi.org/10.26740/jim.v9n2.p572-586
Putri, A. E. J., & Octavatiya, A. J. (2023). Perilaku Keuangan Pengguna E-Wallet di Kudus: Financial Technology, Demografi, Literasi Keuangan Dan Lifestyle Sebagai Prediktor. Jurnal Ekonomi Dan Bisnis Digital (Ekobil), 2(2), 8–15. https://doi.org/10.58765/ekobil.v2i2.154
Radianto, W. E. D., & Pramudita, N. A. (2024). Interaction of mental accounting, financial self-efficacy, and financial attitude on financial behavior. (2).
Rasyid, N., Goso, L., & Ikbal, M. (2025). The Influence of Financial Technology and Financial Literacy on Financial Behavior in the Digital Era. International Journal of Management Science and Information Technology, 5(1), 116–123. https://doi.org/10.35870/ijmsit.v5i1.3578
Rusnawati, R., Farild, M., & Ms, E. I. (2022). The Fintech E-Payment: The Impact to Financial Behavior. LAA MAISYIR: Jurnal Ekonomi Islam, 9(1), 20–32. https://doi.org/10.24252/lamaisyir.v9i1.23793
Sabrin, Nur Afiat, M., & Aso, L. (2025). The Effect of Financial Knowledge and Self-Efficacy on Students’ Financial Management Behavior in Indonesia. International Journal of Research and Review, 12(1), 351–359. https://doi.org/10.52403/ijrr.20250144
Santika, R. & Yuhasril. (2025). Pengaruh Digital payment, Literasi Keuangan, dan Sikap Keuangan Terhadap Perilaku Keuangan Generasi Z. Jurnal Akuntansi, Manajemen, dan Perencanaan Kebijakan, 3(1), 17. https://doi.org/10.47134/jampk.v3i1.903
Setiawati, N. T., & Primadineska, R. W. (2025). Financial Behavior of Generation Z in Indonesia: Impact of Literacy, Technology and Lifestyle. Telaah Bisnis, 26(1), 55. https://doi.org/10.35917/tb.v26i1.596
Siregar, M. A., & Pratiwi, P. D. (2024a). Pengaruh Literasi Keuangan Terhadap Perilaku Keuangan Generasi Z Dengan Gaya Hidup Sebagai Variabel Intervening. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 8(3), 3068–3083. https://doi.org/10.31955/mea.v8i3.4862
Sufyati Hs & Alvi Lestari. (2022). Pengaruh Literasi Keuangan, Inklusi Keuangan dan Gaya Hidup Terhadap Perilaku Keuangan Pada Generasi Milenial. Jurnal Multidisiplin Madani, 2(5), 2415–2430. https://doi.org/10.55927/mudima.v2i5.396
Wahyuni, E. D., & Raprayogha, R. (2021). Pengaruh Financial Knowledge, Financial Attitude, Financial Experience, Dan Income Terhadap Financial Behavior Pada Nasabah Kpn Al-Muawwanah Uin Alauddin Makassar.
Wardani, A. K., & Lutfi, L. (2019). Pengaruh literasi keuangan, experienced regret, risk tolerance, dan motivasi pada keputusan investasi keluarga dalam perspektif masyarakat Bali. Journal of Business & Banking, 6(2). https://doi.org/10.14414/jbb.v6i2.996
Widyakto, A., Liyana, Z. W., & Rinawati, T. (2022). The influence of financial literacy, financial attitudes, and lifestyle on financial behavior. Diponegoro International Journal of Business, 5(1), 33–46. https://doi.org/10.14710/dijb.5.1.2022.33-46
Published
2026-09-02
How to Cite
Hamida, H., Eka Indriyani, & Fauziah Bakhtiar. (2026). The Influence of Financial Literacy, Financial Self-Efficacy, and Financial Technology on Generation Z’s Financial Behavior in Makassar. International Journal of Economics, Business and Innovation Research, 5(05), 2962-2978. https://doi.org/10.63922/ijebir.v5i05.6024
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