The effect of financial technology and frugal living on financial management behavior of generation Z in Ponorogo Regency with gender as a moderating variable
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Adelita Dinar Noor Sakti(1*)
Department of Management, Faculty of Economics, University of Muhammadiyah Ponorogo
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Riawan Riawan(2)
Department of Management, Faculty of Economics, University of Muhammadiyah Ponorogo
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Titi Rapini(3)
Department of Management, Faculty of Economics, University of Muhammadiyah Ponorogo
(*) Corresponding Author
Keywords:
Financial Technology, Frugal Living, Financial Management Behavior, Gender
Abstract
This study aims to analyze the influence of financial technology and frugal living on the financial management behavior of Generation Z in Ponorogo Regency with gender as a moderating variable. This study uses the Theory of Planned Behavior (TPB) as its basis, which explains that individual behavior is influenced by attitudes, subjective norms, and perceived behavioral control. The method used is a quantitative approach with purposive sampling technique. The research sample consisted of 160 Generation Z respondents in Ponorogo Regency who had income and used financial technology. Data collection was conducted through an online questionnaire using Google Form and analyzed using the Partial Least Square (PLS) method with SmartPLS 4.0 software. The results showed that financial technology and frugal living had a significant effect on the financial management behavior of Generation Z, but gender did not moderate the effect of financial technology and frugal living on the financial management behavior of Generation Z in Ponorogo Regency.
Keywords: Financial Technology; Frugal Living; Financial Management Behavior; Gender
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References
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Xie, J., Ye, L., Huang, W., & Ye, M. (2021). Understanding fintech platform adoption: Impacts of perceived value and perceived risk. Journal of Theoretical and Applied Electronic Commerce Research, 16(5), 1893–1911.
https://doi.org/10.3390/jtaer16050106
Ajzen, I. (2020). The theory of planned behavior: Frequently asked questions. Human Behavior and Emerging Technologies, 2(4), 314–324.
https://doi.org/10.1002/hbe2.195
Alim, A. M., Margareta, A. M., Yuanna, D., & Maharani, A. (2025). Exploring The Role of Frugal Living and Digital Financial Inclusion to Saving’s Intention Within Indonesia’s Gen Z. Jurnal Manajemen, 16(1), 239–251. https://doi.org/10.32832/jm-uika.v16i1.18151
Andi, P. F., & Mustaqim, M. (2024). Financial technology, financial knowledge, and financial attitude of Generation Z: Determinants of financial behavior. Journal of Enterprise and Development (JED), 6(2). https://doi.org/10.20414/jed.v6i2.9836
Aqcahya, N., Safitri, H., & Hariyanto, D. (2025). The Influence of Fintech Payment, Financial Literacy, and Lifestyle on Financial Management of Shopee PayLater Users in Pontianak City with Income as a Moderating Variable. JHSS (Journal of Humanities and Social Studies), 08, 1024–1032.
https://doi.org/10.33751/jhss.v8i3.11850
Ashoer, M., Jebarajakirthy, C., Lim, X. J., Mas’ud, M., & Sahabuddin, Z. A. (2024). Mobile fintech, digital financial inclusion, and gender gap at the bottom of the pyramid: An extension of mobile technology acceptance model. Procedia Computer Science, 234, 1253–1260. https://doi.org/10.1016/j.procs.2024.03.122
Astungkara, A., Ciptaningtias, A. F., & Mahesti, T. (2025). Generasi Z dan Kemandirian Finansial? Peran Frugal Living dan Literasi Keuangan Terhadap Perilaku Manajemen Keuangan dengan Gender Sebagai Variabel Moderasi. JurnalAkuntansidanPajak, 1.
https://doi.org/http://jurnal.stie-aas.ac.id/index.php/jap
Dew, J. P., Jian Xiao, J., & Jian, J. (2011). The Financial Management Behavior Scale: Development and validation. In Journal of Financial Counseling and Planning (Vol. 22, Number 1).
https://scholarsarchive.byu.edu/facpub
Ganes, N., Utami, P., Isbanah, Y., Surabaya, U. N., & Surabaya, I. (2023). Pengaruh Financial Literacy, Financial Attitude, Financial Technology, Self-control, dan Hedonic Lifestyle Terhadap Financial Behavior. https://journal.unesa.ac.id/index.php/jim
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2019). Multivariate Data Analysis Eighth Edition. www.cengage.com/highered
Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2022). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM). Sage Publishing.
Hartantri, R., Setyadi, B., & Gunarto, M. (2024). Analysis of the Effect of Frugal Living on Employee Financial
Management in Achieving Financial Freedom. International Journal of Finance Research, 5(1), 103–113.
https://doi.org/10.47747/ijfr.v5i1.1700
Henseler, J., Ringle, C. M., & Sarstedt, M. (2016). Testing measurement invariance of composites using partial least squares. International Marketing Review, 33(3), 405–431. https://doi.org/10.1108/IMR-09-2014-0304
Humaidi, A., Khoirudin, M., Adinda, A. R., & Kautsar, A. (2020). The Effect of Financial Technology, Demography, and Financial Literacy on Financial Management Behavior of Productive Age in Surabaya, Indonesia. International Journal of Advances in Scientific Research and Engineering, 06(01), 77–81. https://doi.org/10.31695/ijasre.2020.33604
Jennifer, J., & Widoatmodjo, S. (2023). The Influence of Financial Knowledge, Financial Literacy, and Financial Technology on Financial Management Behavior Among Young Adults. International Journal of Application on Economics and Business, 1(1), 344–353. https://doi.org/10.24912/ijaeb.v1i1.344-353
Lastovicka, J. L., Bettencourt René, L. A., Hughner, S., & Kuntze, R. J. (1999). Lifestyle of the Tight and Frugal: Theory and Measurement.
https://doi.org/https://doi.org/10.1086/209552
Melisa, D. (2025). Gender Sebagai Variabel Moderasi Pada Pengaruh Gaya Hidup Terhadap Pengelolaan Keuangan. In Jurnal Riset Pendidikan Ekonomi (Number 10). https://doi.org/https://doi.org/10.21067/jrpe.v10i1.11666
Otoritas Jasa Keuangan. (2024). “Dorong Literasi dan Inklusi Keuangan Digital Serta Perkuat Ekosistem Fintech, OJK bersama AFTECH, AFSI dan AFPI Kembali Gelar The 6th Indonesia Fintech Summit & Expo (IFSE) dan Bulan Fintech Nasional (BFN) 2024.”
Rahayu, N., Agung, A. P. I. G., Anwar, A., & Bagas M. B. P. S. R. (2025). Analisis Literasi Keuangan, Fintech dan Gaya Hidup terhadap Pengelolaan Keuangan Milenial dengan Moderasi Jenis Kelamin. Jurnal Dinamika Ekonomi & Bisnis, 22(2). https://doi.org/10.34001/jdeb.v22i2.8706
Setiawati, N. T., & Primadineska, R. W. (2025). Financial Behavior of Generation Z in Indonesia: Impact of Literacy, Technology and Lifestyle. Telaah Bisnis, 26(1), 55. https://doi.org/10.35917/tb.v26i1.596
Suwandi, A. (2024, October 9). Gen Z Dominasi Penggunaan Fintech, Tak Melulu Buat Konsumsi. KumparanBISNIS. https://kumparan.com/kumparanbisnis/gen-z-dominasi-penggunaan-fintech-tak-melulu-buat-konsumsi-23gLYJv7qFf
Xie, J., Ye, L., Huang, W., & Ye, M. (2021). Understanding fintech platform adoption: Impacts of perceived value and perceived risk. Journal of Theoretical and Applied Electronic Commerce Research, 16(5), 1893–1911.
https://doi.org/10.3390/jtaer16050106
Published
2026-11-06
How to Cite
Sakti, A., Riawan, R., & Rapini, T. (2026). The effect of financial technology and frugal living on financial management behavior of generation Z in Ponorogo Regency with gender as a moderating variable. Journal of Management : Small and Medium Enterprises (SMEs), 19(3), 2359-2375. https://doi.org/10.35508/jom.v19i3.27794
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