UNDERSTANDING FINANCIAL BEHAVIOR OF GEN Z THROUGH FINANCIAL ATTITUDE, FINANCIAL SELF-EFFICACY, FINANCIAL PLANNING, AND SELF-CONTROL

Abstract

Financial behavior among Generation Z has become an important issue because many young adults still demonstrate low financial literacy, poor financial management, and irrational spending behavior. Although previous studies have examined the effects of financial literacy, financial attitude, financial self-efficacy, and financial planning on financial behavior, limited research has investigated the mediating role of self-control. Therefore, this study aims to examine the influence of financial literacy, financial attitude, financial self-efficacy, and financial planning on the financial behavior of Generation Z in Bekasi Regency, with self-control as a mediating variable. This study employed a quantitative approach using primary data collected through questionnaires distributed via Google Forms. The population comprised Generation Z aged 18–25 years in Bekasi Regency, with 400 respondents selected using purposive sampling. Data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS) with SmartPLS 3 software. The results indicate that financial literacy, financial attitude, financial self-efficacy, and financial planning significantly influence financial behavior, with financial self-efficacy having the strongest effect. Self-control also significantly mediates these relationships, although its effect size is relatively small (f² = 0.054). This study contributes to the literature by simultaneously examining financial self-efficacy and financial planning while incorporating self-control as a mediating variable.