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All Journal International Journal of Applied Finance and Business Studies
Natalia Setia
Sekolah Tinggi Ilmu Ekonomi YAPAN, Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Understanding generation z financial planning through literacy, lifestyle and socioeconomic factors Natalia Setia; Fida Oktafiani
International Journal of Applied Finance and Business Studies Vol. 14 No. 1 (2026): June: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v14i1.499

Abstract

This study aims to examine how financial literacy, parental socioeconomic status, and consumptive lifestyle influence the financial planning behavior of Generation Z in Surabaya Financial planning has become increasingly important for Generation Z due to the rapid growth of the digital economy and changing consumption patterns. This study uses a quantitative method with an explanatory research approach. The data collection technique was carried out through the distribution of questionnaires to 97 Generation Z respondents in Surabaya who were selected using a simple random sampling technique. The analysis was conducted with SPSS version 23, including validity and reliability tests, descriptive statistics, classical assumption tests, multiple linear regression, as well as t-test and F-test. The results show that parental socioeconomic status and consumptive lifestyle do not have a significant partial effect on financial planning. However, when tested simultaneously, financial literacy, parental socioeconomic status, and consumptive lifestyle together influence Generation Z’s financial planning in Surabaya. Financial literacy is the most dominant variable in influencing financial planning. The findings of this study show the importance of increasing financial literacy for the younger generation to be able to manage finances in a more wise, planned, and oriented manner towards financial welfare in the future.
Co-Authors Fida Oktafiani