Digital Financial Literacy Moderates The Effect Of Financial Capability and Behavior on Financial Well-Being
DOI:
https://doi.org/10.31000/k0pn5525Keywords:
Financial Capability, Financial Behavior, Digital Financial Literacy, Financial Well-BeingAbstract
This study was conducted to analyze the influence of financial capability and financial behavior on students’ financial well-being, as well as to assess the role of digital financial literacy as a moderating variable in these relationships. The research background stems from the increasing economic pressure experienced by Generation Z in Indonesia, particularly university students, who face low income, financial dependence on family, and high usage of digital financial services. The study employed a quantitative approach with an explanatory method, involving 98 undergraduate accounting students from three campuses of Universitas Pembangunan Nasional “Veteran.” Data were collected through questionnaires and analyzed using validity tests, reliability tests, classical assumption tests, and moderated regression analysis. The findings indicate that both financial capability and financial behavior significantly affect financial well-being. Digital financial literacy strengthens the effect of financial capability on financial well-being but does not strengthen the effect of financial behavior. These results highlight that proficiency in financial technology is a crucial factor that enhances the effectiveness of financial capability in supporting students’ financial well-being. This study provides empirical contributions regarding the importance of digital literacy in the modern financial ecosystem and its relevance for the development of financial education programs in higher education.
References
Abdurrahman A, Nugroho DA. 2024. The Role Of Digital Financial Literacy On Financial Well-Being With Financial Technology, Financial Confidence, Financial Behavior As Intervening And Sociodemography As Moderation. Jurnal Ekonomi Dan Bisnis 27: 191–220.
Ajzen I. 1991. The Theory Of Planned Behavior. Organ Behav Hum Decis Process 50: 179–211.
Apriliani R. 2024. Literasi Keuangan Berbasis Teknologi Digital. 65 P.
Awaningsih N. 2022. Pengaruh Optimisme, Tawakal, Financial Capability, Dan Parental Financial Socialization Terhadap Financial Well-Being Guru TK Dan PAUD Di Masa Pandemi.
Basrowi, Utami P. 2021. Teori-Teori Perilaku Keuangan. Eureka Media Aksara .
Choung Y, Chatterjee S, Pak T-Y. 2023. Digital Financial Literacy And Financial Well-Being. Financ Res Lett 58: 104438.
Comerton-Forde C, De New J, Salamanca N, Ribar DC, Nicastro A, Ross J. 2022. Measuring Financial Wellbeing With Self-Reported And Bank Record Data*. Economic Record 98: 133–151.
Gandi T, Fikri S. 2024. The Role Of Financial Capability And Non-Impulsive Behavior In Moderated Mediation Model On The Effect Of Financial Literacy On Financial Well-Being. International Journal Of Education, Language, Literature, Arts, Culture, And Social Humanities 2: 33–56.
Garg N, Priyadarshi P, Malik A. 2024. Financial Well-Being: An Integrated Framework, Operationalization, And Future Research Agenda. Journal Of Consumer Behaviour 23: 3194–3212.
Gosal GG, Nainggolan R. 2023. The Influence Of Digital Financial Literacy On Indonesian Smes’ Financial Behavior And Financial Well-Being. International Journal Of Professional Business Review 8: E04164.
Guo B, Huang J. 2023. Financial Well-Being And Financial Capability Among Low-Income Entrepreneurs. Journal Of Risk And Financial Management 16.
Hartono. 2019. Metodologi Penelitian, 1e. Zanafa Publishing.
Herdjiono I, Siswantoyo S, Sukiyono K, Hutama PS, Hakim AR, Nggaruaka T, Awotkay AS, Lola MA. 2023. Effect Of Financial Behavior, Childhood Consumer Experience, And Financial Wellness On Financial Well-Being. Management:Journal Of Sustainable Business And Management Solutions In Emerging Economies.
Hitesh K, Sandhu S. 2024. Digital Financial Literacy And Perceived Financial Well-Being Among Indian Adolescents And Young Adults: The Importance Of Financial Capability And Resilience. The Review Of Finance And Banking 16: 231–247.
IDN Media. 2024. Indonesia Gen Z Report.
Kumar P, Pillai R, Kumar N, Tabash MI. 2023. The Interplay Of Skills, Digital Financial Literacy, Capability, And Autonomy In Financial Decision Making And Well-Being. Borsa Istanbul Review 23: 169–183.
Lyons A, Hanna K. 2021. A Methodological Overview To Defining And Measuring “Digital†Financial Literacy. Financial Planning Review 4: E1113.
Margasari N, Murti Andhini M, Seetha Bandara Ra. 2024. Student Financial Well-Being: Personal Factors And Financial Behavior As Antecedents Of Financial Well-Being.
Marsh Ba, Debard R, Gonzalez A, Coomes Md, Knight We. 2006. Examining The Personal Finance Attitudes, Behaviors, And Knowledge Levels Of First-Year And Senior Students At Baptist Universities In The State Of Texas.
Muat S, Fachrurrozi F, Sari N. 2024. How Do Digital Financial Literacy, Financial Behavior, And Skills Affect Financial Well-Being? An Exploratory Study On Gen Z. IJBE (Integrated Journal Of Business And Economics) 8: 728.
Pandey P, Kapoor A. 2025. Cybercrime In The Digital Era: Impacts, Awareness, And Strategic Solutions For A Secure Future. Sachetas 4: 32–37.
Prameswari S, Nugroho M, Pristiana U. 2023. Pengaruh Literasi Keuangan, Kesadaran Keuangan, Pendapatan Terhadap Kesejahteraan Keuangan Dengan Perilaku Keuangandan Inklusi Keuangan. Cakrawala.
Ranta M, Aro K. 2017. Subjective Financial Situation And Financial Capability Of Young Adults In Finland. Int J Behav Dev 42: 525–534.
Sajid M, Mushtaq R, Murtaza G, Yahiaoui D, Pereira V. 2024. Financial Literacy, Confidence And Well-Being: The Mediating Role Of Financial Behavior. J Bus Res 182: 114791.
Sehrawat K, Vij M, Talan G. 2021. Understanding The Path Toward Financial Well-Being: Evidence From India. Front Psychol 12.
Siregar SR, Zulpahmi, Larasati M, Enciso RC, Sumardi, Setiawan E, Nugroho AW. 2024. Measuring Financial Well-Being In Generation Z In Indonesia. Salud, Ciencia Y Tecnologia - Serie De Conferencias 3.
Stockdale E, Sanders M. 2023. Financial Well-Being And Capability Of Widening Participation Students And A Text Message Intervention To Improve It. Widening Participation And Lifelong Learning 25: 153–184.
Subedi DP, Bhandari DR. 2024. Impact Of Financial Behaviors On The Financial Wellbeing Of Vegetable Farmers In Bhaktapur District. The Batuk 10: 1–16.
Downloads
Published
Issue
Section
License
pernyataan bahwa pemegang hak artikel
Authors who publish with International Journal of Advances in Intelligent Informatics agree to the following terms: Authors retain copyright and grant the International Journal of Advances in Intelligent Informatics right of first publication with the work simultaneously licensed under a Creative Commons Attribution License (CC BY-SA 4.0) that allows others to share (copy and redistribute the material in any medium or format) and adapt (remix, transform, and build upon the material) the work for any purpose, even commercially with an acknowledgement of the work's authorship and initial publication in International Journal of Advances in Intelligent Informatics. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in International Journal of Advances in Intelligent Informatics. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
