Analysis of the Relationship Between Financial Literacy, Financial Technology, and the Financial Well-Being of Generation Z
Keywords:
Financial Literacy, Financial Technology, Financial Well-Being, Generation Z, SEM-PLSAbstract
Financial literacy and financial technology have become two important factors influencing the financial well-being of Generation Z amid the rapid development of the digital economy. However, differences in financial knowledge and the intensity of financial technology utilization may produce varying impacts on individuals' financial well-being. This study aims to analyze the relationship between financial literacy, financial technology, and the financial well-being of Generation Z. The research employed a quantitative approach using a survey method involving Generation Z respondents selected through purposive sampling. Data were collected using a structured questionnaire and analyzed with Structural Equation Modeling–Partial Least Squares (SEM-PLS). The findings indicate that financial literacy has a positive and significant effect on financial well-being. Financial technology also demonstrates a positive and significant relationship with financial well-being by facilitating more effective financial management. Simultaneously, financial literacy and financial technology contribute significantly to improving the financial well-being of Generation Z. Therefore, strengthening financial literacy and promoting the responsible use of financial technology are essential strategies for enhancing the financial well-being of Generation Z
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