The Influence of Cognitive, Behavioral, Lifestyle, and Socioeconomic Factors on the Personal Financial Management of Generation Z

Marlinaya Delia; Ratih Kusumastuti; Dica Lady Silvera

doi:10.55681/jige.v7i3.6788

Authors

Marlinaya Delia Department of Accounting, Faculty of Economics and Business, Universitas Jambi, Jambi, Indonesia
Ratih Kusumastuti Department of Accounting, Faculty of Economics and Business, Universitas Jambi, Jambi, Indonesia
Dica Lady Silvera Department of Accounting, Faculty of Economics and Business, Universitas Jambi, Jambi, Indonesia

DOI:

https://doi.org/10.55681/jige.v7i3.6788

Keywords:

Accounting, Lifestyle, Financial, Management

Abstract

This study aims to examine the effect of mental accounting, lifestyle, impulsive buying, and socioeconomic status on personal financial management among Generation Z students of the Accounting Department, Faculty of Economics and Business, Jambi University, Class of 2023. The increasing phenomenon of consumptive behavior among Generation Z driven by the rapid development of digital platforms, the ease of transactions through the Quick Response Code Indonesian Standard (QRIS), and the strong influence of social media on student lifestyle serve as the basis for conducting this research. The data used in this study are primary data obtained through the distribution of questionnaires to students with a total population of 143 students. The sampling technique used was purposive sampling with sample size determination through the Slovin formula at a 5% margin of error, resulting in 105 respondents who met the research criteria. Data analysis was performed using IBM SPSS software version 32. The results of this study indicate that simultaneously, mental accounting, lifestyle, impulsive buying, and socioeconomic status have a significant effect on personal financial management of Generation Z. Partially, mental accounting and socioeconomic status have a positive and significant effect on personal financial management, while lifestyle and impulsive buying do not have a significant effect on personal financial management. These findings indicate that the better an individual's ability to categorize and allocate financial resources cognitively and the more stable the family's socioeconomic condition, the better their personal financial management will be.

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