Email this article The Influence of Financial Knowledge, Parental Financial Socialization, and Fear of Missing Out (FOMO) on The Financial Behavior of Gen Z students in Indonesia : Examining The Moderating Role of Gender
Abstract
This study aims to examine the role of gender in moderating the influence between financial knowledge, parental financial socialization, and FoMO on the financial behavior of Gen Z students in Indonesia.This research method uses a quantitative approach with a descriptive design that focuses on the statistical analysis of numerical data. The population of this study was students from the 2020 and 2021 intakes who were registered in the economics study program of the Faculty of Teacher Training and Education at Sebelas Maret University. The sampling technique employed combines probability sampling and proportionate random sampling. A total of 224 students participated in data collection, which involved distributing a Google Forms link and the questionnaire via messaging applications (such as WhatsApp) and social network chat features. IBM SPSS 26 software was used to analyze the data using Moderated Regression Analysis (MRA). The study's findings indicate financial behavior is influenced by financial knowledge, parental financial socialization, and FoMO (p<0.05). Additionally, while financial knowledge and FoMO are not moderated by gender (p>0.05), parental financial socialization's effect on financial behavior is moderated by gender (p<0.05). The implications of this study highlight the importance of integrating financial literacy into university education, using a more practical and technology-based approach. Lecturers are encouraged to design learning that not only focuses on theory but also involves financial simulations and technology to help students better understand financial concepts interactively. In addition, universities should offer training programs or financial literacy workshops to equip students with better financial skills.
Keywords
Full Text:
PDFReferences
’Ulumudiniati, M., & Asandimitra, N. (2022). Pengaruh Financial Literacy, Financial Self-Efficacy, Locus of Control, Parental Income, Love of Money terhadap Financial Management Behavior: Lifestyle sebagai Mediasi. Jurnal Ilmu Manajemen, 10(1), 51–67. https://doi.org/10.26740/jim.v10n1.p51-67
Adiputra, I. G., Suprastha, N., & Tania, L. (2021). The Influence Of Financial Knowledge, Financial Attitude Dan Locus Of Control On Financial Behavior Of E-Wallet Users In Jakarta. Journal of Contemporary Issues in Business and Government, 27(1), 2021. https://cibg.org.au/3318
Agus. (2017). The Influence of Financial Knowledge, Control and Income on Individual Financial Behavior. European Research Studies Journal, XX(Issue 3A), 635–648. https://doi.org/10.35808/ersj/734
Akbar, R. P., & Armansyah, R. F. (2023). Perilaku Keuangan Generasi Z Berdasarkan Literasi Keuangan, Efikasi Diri, Dan Gender. Jurnal Ilmiah Manajemen Dan Bisnis (JIMBis), 2(2), 107–124. https://doi.org/10.24034/jimbis.v2i2.5836
Alexander, R., & Pamungkas, A. S. (2019). Pengaruh Pengetahuan Keuangan, Lokus Pengendalian Dan Pendapatan Terhadap Perilaku Keuangan. Jurnal Manajerial Dan Kewirausahaan, 1(1). https://doi.org/10.24912/jmk.v1i1.2798
Amagir, A., Groot, W., van den Brink, H. M., & Wilschut, A. (2020). Financial literacy of high school students in the Netherlands: knowledge, attitudes, self-efficacy, and behavior. International Review of Economics Education, 34(April 2019), 100185. https://doi.org/10.1016/j.iree.2020.100185
Anthony, M., Sabri, M. F., Rahim, H. A., & Othman, M. A. (2022). Financial Socialisation and Moderation Effect of Gender in The Influence of Financial Behaviour on Financial Well-Being among Young Adults. Malaysian Journal of Consumer and Family Economics, 28(June), 68–99.
Antoni, X., & Saayman, M. (2021). The Influence of Financial Socialisation Mechanisms on Young Financial Professionals’ Financial Literacy Levels in the Eastern Cape. Academy of Accounting and Financial Studies Journal, 25(3), 1-15s.
Arellano, F. B. G. (2022). The effect of financial education on college students ’ knowledge and behavior. December.
Asih, S. W., & Khafid, M. (2020). Pengaruh financial knowledge, financial attitude dan income terhadap personal financial management behavior melalui locus of control sebagai variabel intervening. Economic Education Analysis Journal, 9(3), 748–767. https://doi.org/10.15294/eeaj.v9i1.42349
Ayanda, S., & Ayu, D. (2024). Studi Pengelolaan Keuangan pada iGeneration Pendahuluan Perkembangan ekonomi global menuntut. 13(2), 147–160. https://doi.org/10.32502/jimn.v13i2.7160
Boto-García, D., Bucciol, A., & Manfrè, M. (2022). The role of financial socialization and self-control on saving habits. Journal of Behavioral and Experimental Economics, 100(May 2021). https://doi.org/10.1016/j.socec.2022.101903
Brailovskaia, J., Ozimek, P., Rohmann, E., & Bierhoff, H. W. (2023). Vulnerable narcissism, fear of missing out (FoMO) and addictive social media use: A gender comparison from Germany. Computers in Human Behavior, 144(March), 107725. https://doi.org/10.1016/j.chb.2023.107725
Cahyasari, D., & Pahala, I. (2023). Systematic Literature Review: Analisis Perilaku Pengelolaan Keuangan pada Generasi Z di Indonesia. Jurnal British, 3(2), 1–09. https://repository.pradita.ac.id/id/eprint/60/1/Jurnal Britis gabungan-2-10.pdf
Clark, G. L., Marshall, J. C., & Strauss, K. (2009). Financial Knowledge. International Encyclopedia of Human Geography: Volume 1-12, 1–12, V4-159-V4-166. https://doi.org/10.1016/B978-008044910-4.00161-9
Dharma, S., Jadmiko, P., & Azliyanti, E. (2020). Aplikasi Spss Dalam Analisis Multivariates. In Angewandte Chemie International Edition, 6(11), 951–952.
Dwi Ambarsari, M., & Asandimitra, N. (2023). Pengaruh financial literacy, lifestyle, konformitas, money attitude, dan e-money terhadap perilaku konsumtif Generasi Z penggemar K-pop. Jurnal Ilmu Manajemen, 11(3), 550–564. https://journal.unesa.ac.id/index.php/jim
Fatimah, S. N., & Fathihani, F. (2023). Pengaruh Literasi Keuangan, Gaya Hidup, dan Locus of Control Terhadap Perilaku Keuangan Generasi Z pada Cashless Society. Jurnal Ilmu Manajemen Terapan, 4(6), 868–877. https://www.dinastirev.org/JIMT/article/view/1637
Furrebøe, E. F., Nyhus, E. K., & Musau, A. (2023). Gender differences in recollections of economic socialization, financial self-efficacy, and financial literacy. Journal of Consumer Affairs, 57(1), 69–91. https://doi.org/10.1111/joca.12490
Girón, A., Kazemikhasragh, A., Cicchiello, A. F., & Panetti, E. (2022). Financial Inclusion Measurement in the Least Developed Countries in Asia and Africa. Journal of the Knowledge Economy, 13(2), 1198–1211. https://doi.org/10.1007/s13132-021-00773-2
Gunawan, A., Mukmin, Wahyuni, S. F., & Sari, M. (2023). Factors affecting financial management behavior of Paylater users in Indonesia: Examining the moderating role of locus of control. Investment Management and Financial Innovations, 20(4), 171–181. https://doi.org/10.21511/imfi.20(4).2023.15
Gunawan, A., Pirari, W. S., & Sari, M. (2020). Pengaruh Literasi Keuangan dan Gaya Hidup Terhadap Pengelolaan Keuangan Mahasiswa Prodi Manajemen Universitas Muhammadiyah Sumatera Utara. Jurnal Humaniora : Jurnal Ilmu Sosial, Ekonomi Dan Hukum, 4(2), 23–35. https://doi.org/10.30601/humaniora.v4i2.1196
Hanson, T. A. (2022). Family Communication, Privacy Orientation, & Financial Literacy : A Survey of U.S. College Students.
Hussain, S., Raza, A., Haider, A., Ishaq, M. I., & Talpur, Q. ul ain. (2023). Fear of missing out and compulsive buying behavior: The moderating role of mindfulness. Journal of Retailing and Consumer Services, 75(July), 103512. https://doi.org/10.1016/j.jretconser.2023.103512
Jacobsen, C. (2019). Analysis of Financial Literacy in a College Population University of Massachusetts Dartmouth Joao Correia University of Massachusetts Dartmouth. 19(4), 11–18.
Jennifer, J., & Widoatmodjo, S. (2023). The Influence of Financial Knowledge, Financial Literacy, and Financial Technology on Financial Management Behavior Among Young Adults. International Journal of Application on Economics and Business, 1(1), 344–353. https://doi.org/10.24912/v1i1.344-353
Jenny Fernanda, Muhammad Faisal Azka, & Achmadiannisa Putri R.A. (2023). Analisis Perilaku FoMO Mahasiswa Universitas Jember Dalam Perspektif Masyarakat Konsumsi-Baudrillard. Journal of Creative Student Research, 1(6), 232–244. https://doi.org/10.55606/jcsrpolitama.v1i6.2967
Kaddouhah, M. (2024). An economic definition of ‘Fear of Missing Out’ (FOMO). Finance Research Letters, 63(April), 105344. https://doi.org/10.1016/j.frl.2024.105344
Khalisharani, H., Sabri, M. F., Johan, I. R., Burhan, N. A. S., & Yusof, A. N. M. (2022). The Influence of Parental Financial Socialisation and Financial Literacy on University Student’s Financial Behaviour. International Journal of Economics and Management, 16(3), 351–364. https://doi.org/10.47836/ijeam.16.3.06
Lep, Ž., Zupančič, M., & Poredoš, M. (2022). Saving of Freshmen and Their Parents in Slovenia: Saving Motives and Links to Parental Financial Socialization. Journal of Family and Economic Issues, 43(4), 756–773. https://doi.org/10.1007/s10834-021-09789-x
Li, Y., Zuiker, V. S., Mendenhall, T. J., & Montalto, C. P. (2020). Parental Financial Socialization, Financial Experiences, and Financial Behaviors: Comparing Asian American and International Asian College Students. Journal of Financial Counseling and Planning, March 2021, 1–21. https://doi.org/10.1891/JFCP-19-00008
Nave, J. M., Oliva, L., & Toscano, D. (2023). Financial knowledge and financial behavior: The moderating role of home ownership. Finance Research Letters, 57(May), 104208. https://doi.org/10.1016/j.frl.2023.104208
Nisa, F. K., & Haryono, N. A. (2022). Pengaruh Financial Knowledge, Financial Attitude, Financial Self Efficacy, Income, Locus of Control, dan Lifestyle terhadap Financial Management Behavior Generasi Z di Kota Surabaya. Jurnal Ilmu Manajemen, 10(1), 82–97. https://doi.org/10.26740/jim.v10n1.p82-97
Noh, M. (2022). Effect of parental financial teaching on college students’ financial attitude and behavior: The mediating role of self-esteem. Journal of Business Research, 143(January), 298–304. https://doi.org/10.1016/j.jbusres.2022.01.054
Nurfadillah, A. R., & Matoati, R. (2021). The influence of financial attitude, financial knowledge, and individual income on financial management behavior of the millennial generation in the special capital region of Jakarta. The Management Journal of Binaniaga, 6(2), 133–150. https://doi.org/10.33062/mjb.v6i2.460
Oktavia, T., Gunawan, M., Emor, G. P., Patricia, G., Poliman, L., & Valerie, M. (2023). Analysis of Ui/Ux Design in E-Commerce Online Loan Service That Affects User’s Decision. Journal of Theoretical and Applied Information Technology, 101(12), 4923–4938.
Patrisia, D., Abror, A., Dastgir, S., & Rahayu, R. (2023). GENERATION Z’s FINANCIAL BEHAVIOUR: THE ROLE OF ISLAMIC FINANCIAL LITERACY. ISRA International Journal of Islamic Finance, 15(2), 20–37. https://doi.org/10.55188/ijif.v15i2.540
Phung, T. M. T., & Tran, Q. N. (2023). The role of learning motivation on financial knowledge among Vietnamese college students. June 2021, 529–563. https://doi.org/10.1111/joca.12511
Robb, C. A. (2023). Undergraduate financial knowledge, attitudes, and behaviors: The impact of financial life skills course on college students. March 2022, 1–10. https://doi.org/10.1002/cfp2.1155
Rohayati, C. C. & S. (2015). Pengaruh Pendidikan Keuangan di Keluarga, Sosial Ekonomi Orang Tua, Pengetahuan Keuangan, Kecerdasan Spiritual, dan Teman Sebaya Terhadap Manajemen Keuangan Pribadi Mahasiswa S1 Pendidikan Akuntansi Fakultas Ekonomi Universitas Negeri Surabaya. Jurnal Pendidikan Akuntansi (JPAK), 3(2), 3.
Safitri, A. F., & Rinaldi, R. (2023). Pengaruh Fear of Missing Out (FoMO) terhadap Perilaku Konsumtif pada Mahasiswi Pembeli Barang Diskon Aplikasi Shopee. Ahkam, 2(4), 727–737. https://doi.org/10.58578/ahkam.v2i4.1987
Safitri, M., & Candra Sari, R. (2020). the Effect of Financial Knowledge and the Use of E-Money Toward Financial Behavior of Undergraduate Students Faculty of Economics Yogyakarta State University Penggunaan E-Money Terhadap Perilaku Keuangan Mahasiswa S1 Fakultas Ekonomi Universitas Negeri Yo.
Sahabuddin, Z. A., & Hadianto, B. (2023). Gender, financial literacy, and financial behavior among students. Humanities and Social Sciences Letters, 11(2), 203–212. https://doi.org/10.18488/73.v11i2.3367
Sianipar, B. A., Purnamasari, E. D., & Ulum, M. B. (2023). Pengaruh Literasi Keuangan dan Lifestyle Hedon Terhadap Perilaku Keuangan Gen-Z pada Mahasiswa Prodi Manajemen Angkatan 2020 Universitas Indo Global Mandiri Palembang. Ekono Insentif, 17(2), 84–95. https://doi.org/10.36787/jei.v17i2.1167
Sugiyono. (2015). METODOLOGI PENELITIAN KUANTITATIF.
Utami, D. S., & Sirine, H. (2016). Faktor-Faktor Yang Memengaruhi Perilaku Menabung Di Kalangan Mahasiswa. Jurnal Ekonomi Dan Bisnis, 19(1), 27–52.
Uyun, L. (2023). Generasi Z dan Milenial sebagai Pengguna Pinjaman Online Perspektif Hukum Islam. Generasi Z Dan Milenial Sebagai Pengguna Pinjaman Online Perspektif Hukum Islam, 3(2), 223–239.
Van Nguyen, H., Ha, G. H., Nguyen, D. N., Doan, A. H., & Phan, H. T. (2022). Understanding financial literacy and associated factors among adult population in a low-middle income country. Heliyon, 8(6). https://doi.org/10.1016/j.heliyon.2022.e09638
Wahyuni, S. F., Radiman1, Hafiz, M. S., & Jufrizen. (2023). Financial literacy and financial attitude on financial management behavior: An examination of the mediating role of the behavioral intention of students at private universities in Indonesia. Investment Management and Financial Innovations, 20(3), 239–250. https://doi.org/10.21511/imfi.20(3).2023.20
Widiantari dan Dewi. (2024). Pengaruh Literasi Keuangan, Kontrol Diri dan Perilaku FoMO terhadap Perilaku Pengelolaan Keuangan (Studi Kasus Mahasiswa Prodi Akuntansi FE Undiksha). Vokasi : Jurnal Riset Akuntansi, 13(1), 82–92. https://doi.org/10.23887/vjra.v13i1.75485
Zulfaris, M. D., Mustafa, H., Mahussin, N., Alam, M. K., & Daud, Z. M. (2020). Students and money management behavior of a Malaysian public university. Journal of Asian Finance, Economics and Business, 7(3), 245–251. https://doi.org/10.13106/jafeb.2020.vol7.no3.245
Zupančič, M., Poredoš, M., & Lep, Ž. (2023). Intergenerational Model of Financial Satisfaction and Parent-Child Financial Relationship. Journal of Social and Personal Relationships, 40(8), 2568–2591. https://doi.org/10.1177/02654075231153352
DOI: https://doi.org/10.33394/jk.v10i4.13561
Refbacks
- There are currently no refbacks.
Copyright (c) 2024 The Author(s)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Jurnal Kependidikan : Jurnal Hasil Penelitian dan Kajian Kepustakaan di Bidang Pendidikan, Pengajaran, dan Pembelajaran
E-ISSN: 2442-7667
Published by LPPM Universitas Pendidikan Mandalika
Email: [email protected]
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.