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Financial behavior of Generation Z in Surabaya city: Analysis of the relationship between financial literacy and lifestyle

Author

Listed:
  • Erna Retna Rahadjeng

    (Univesity of Muhammdiyah Malang)

  • Bagas Prayogi Harsono

    (University of Muhammadiyah Malang)

Abstract

This research aims to determine and analyze the influence of financial literacy and lifestyle on financial behavior. This type of research is explanatory research using a quantitative approach method. The sampling technique uses probability sampling with the proportionate stratified random sampling method with a sample size of 395 people. The data analysis technique used in this research is multiple linear regression analysis using SPSS tools. The results of this research show that financial literacy has a positive and significant effect on the financial behavior of generation Z. Lifestyle has a negative and significant effect on the financial behavior of generation Z. Financial literacy and lifestyle simultaneously have a positive and significant effect on the financial behavior of generation Z in Sawahan District, Surabaya City. The results of this study suggest that generation Z must have qualified financial literacy and have a healthy lifestyle in order to form good financial management so that generation Z has an awareness of the importance of doing good financial planning as early as possible to achieve financial well-being. Key Words:Financial Literacy, Lifestyle, Financial Behavior, Generation Z.

Suggested Citation

  • Erna Retna Rahadjeng & Bagas Prayogi Harsono, 2024. "Financial behavior of Generation Z in Surabaya city: Analysis of the relationship between financial literacy and lifestyle," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 13(9), pages 113-123, December.
    • Handle: RePEc:rbs:ijbrss:v:13:y:2024:i:9:p:113-123
    DOI: 10.20525/ijrbs.v13i9.3796
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