The influence of financial literacy and fintech payment behavior on healthy financial management behavior the mediating role of financial self-control among generation Z
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Srikandi Pratama Agni Putri(1)
Department of Management, Faculty of Economics and Business, University of Swadaya Gunung Jati
-
Maiyaliza Maiyaliza(2*)
Department of Management, Faculty of Economics and Business, University of Swadaya Gunung Jati
(*) Corresponding Author
Keywords:
Financial Literacy;, Fintech Payment Behavior;, Financial Management Behavior;, Financial Self-Control;, Generation Z
Abstract
This study examines the influence of financial literacy and fintech payment behavior on healthy financial management behavior among Generation Z students, with financial self-control as a mediating variable. A quantitative approach was employed using a survey of 384 students in Cirebon. Data were analyzed using structural equation modeling to test the relationships between variables. The findings indicate that financial literacy and fintech payment behavior significantly influence healthy financial management behavior. Furthermore, financial self-control plays a crucial mediating role in strengthening these relationships. These results suggest that improving financial literacy and self-regulation are essential for developing responsible financial behavior. However, this study is limited to a specific geographic area, which may affect the generalizability of the results. Future research should expand the scope to diverse regions and include longitudinal data to better capture behavioral changes over time. Educational institutions and fintech providers should collaborate to promote financial education programs.
Keywords: Financial Literacy; Fintech Payment Behavior; Generation Z; Financial Management Behavior; Financial Self-Control
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References
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Ode, S. M. W., Sarita, B., Saleh, S., Hamid, W., & Masri, M. (2024). Pengaruh financial literacy, fintech payment, dan locus of control terhadap financial management behavior pada mahasiswa pascasarjana. Jurnal Manajemen dan Kewirausahaan. https://doi.org/10.55598/jmk.v16i2.12
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https://doi.org/10.24929/feb.v13i2.2792
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Rismaya, M., & Ullum, M. (2025). The role of financial literacy and self-control: risky credit behavior in using paylater. 24(2), 296.
https://doi.org/10.24123/mabis.v24i2.913
Rasyid, N., Goso, G., & Ikbal, M. (2025). The influence of financial technology and financial literacy on financial behavior in the digital era. International Journal of Management Science and Information Technology, 5(1), 116–123. https://doi.org/10.35870/ijmsit.v5i1.3578
Rey-Ares, L., Fernández-López, S., Castro-González, S., & Rodeiro-Pazos, D. (2021). Does self-control constitute a driver of millennials’ financial behaviors and attitudes? Journal of Behavioral and Experimental Economics, 93.
https://doi.org/10.1016/j.socec.2021.101702
Rinaldi, F., Samsudin., Mujab, S., Saryanto., Muzayyin, M. M., Mardikawati, B., Fathani, A. H., Gule, Y., Budiawan., & Anaktototy, K. (2024). Pendidikan untuk Gen Z: top 8 skills untuk Gen Z. Indramayu: Penerbit Adab.
Sulistiyani, T., Muthusamy, A., & Solihudin, A. R. (2023). The effect of financial technology, online shopping, and self-control on consumptive behavior. Jurnal Fokus Manajemen Bisnis, 13(2), 231–240. https://doi.org/10.12928/fokus.v13i2.9081
Sugiyono. (2019). Metode penelitian kuantitatif, kualitatif, dan r&d. Bandung: alfabeta.
Sholeha, A., & Sains Kharisma, A. (2024). Pengaruh financial technology (fintech) terhadap kinerja UMKM melalui mediasi akses keuangan di Provinsi Jawa Tengah, Indonesia. 17(2). https://doi.org/10.46306/jbbe
Septiana, P. E., & Ririn Indriastuti, D. (2025). Pengaruh financial literacy, fintech e-wallet dan financial attitude terhadap perilaku konsumtif pengguna e-commerce shopee pada mahasiswa fakultas ekonomi dan bisnis Universitas Slamet Riyadi Surakarta. 2(2), 158–171. https://doi.org/10.61722/jrme.v2i2.4200
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https://doi.org/10.31955/mea.v7i2.3056
Aziz, A., Pamungkas, G., Alifa, N. L., Wijaya, W., & Layaman. (2023). The role of digital literacy and financial literacy on the use of islamic fintech moderated by religiosity the impact on personal financial management. International Journal of Sustainable Applied Sciences, 1(6), 759–776. https://doi.org/10.59890/ijsas.v1i6.1019
Akib, R., & Jasman, J. (2022). Pengaruh financial technology terhadap perilaku keuangan dimoderasi dengan locus of control. SEIKO : Journal of Management & Business, 6(1), 558–572. https://doi.org/10.37531/sejaman.v6i1.3729
Amaliyah, A. R., Judijanto, L., Apriyanto, H., Rustam, H. A., Pardjono, N., Desi, D. E., & Risman, A. (2025). Manajemen keuangan (teori dan praktek dalam mencapai financial freedom). Jambi: PT. Sonpedia Publishing Indonesia.
Chin, W. W. (1998). The partial least squares approach to structural equation modeling. In G. A. Marcoulides (Ed.), Modern methods for business research (295–336). Lawrence Erlbaum Associates Publishers.
http://www.researchgate.net/publication/232569511
Erlangga, M. Y., & Krisnawati, A. (2020). Pengaruh fintech payment terhadap perilaku manajemen keuangan mahasiswa. Jurnal Riset Manajemen Dan Bisnis, 15(1), 53–62. https://doi.org/10.21460/jrmb.2020.151.348
Fahrianisa, N., Nugroho, S. W., Kurniawan, Y. D., Akuntansi, J., Madiun, N., & Timur, J. (2025). Pengaruh pajak pertambahan nilai (ppn), literasi keuangan, dan penggunaan e-wallet terhadap perilaku konsumtif mahasiswa di Kota Madiun. Journal Of Economic, Accounting And Management (Vol.3, Issue 1). https://doi.org/10.61994/equivalent.v3i1.661
Hair, J., & Alamer, A. (2022). Partial least squares structural equation modeling (PLS-SEM) in second language and education research: Guidelines using an applied example. Research Methods in Applied Linguistics, 1(3). https://doi.org/10.1016/j.rmal.2022.100027
Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. In European Business Review, 31(1), 2-24. Emerald Group Publishing Ltd. https://doi.org/10.1108/EBR-11-2018-0203
Hanifah, M., Manjaleni, R. (2025). Pengaruh financial technology dan literasi keuangan terhadap mental budgeting pada generasi zoomers di Kota Bandung. 10(2), 991–1007. https://doi.org/10.30651/jms.v10i2.25947
Hijir, P. S. (2022). Pengaruh literasi keuangan terhadap perilaku keuangan dengan financial technology (fintech) sebagai variabel intervening pada UKM di Kota Jambi. Jurnal Manajemen Terapan Dan Keuangan (Mankeu), 11(01). https://doi.org/10.22437/jmk.v11i01.17273
Idris, I. N. S. (2021). Pengaruh self control dan literasi keuangan terhadap financial satisfaction dengan financial behavior sebagai variabel intervening pada pekerja Kota Makassar. Universitas Islam Negeri Alauddin Makassar.
Jayanti, E., Desmintari, & Permadhy, Y. T. (2020). Determinan terhadap perilaku manajemen keuangan pada produsen tahu dan tempe di Kelurahan Semanan Kecamatan Kalideres. KORELASI: Konferensi Riset Nasional Ekonomi, Manajemen, Dan Akuntansi, 852–863.
https://ocs.upnvj.ac.id/index.php/kor elasi/2020/paper/view/1008
Kamilah, F. (2024). Pengaruh fintech payment dan literasi keuangan terhadap perilaku manajemen keuangan mahasiswa akuntansi Universitas Lancang Kuning. Daya Saing Jurnal Ilmu Manajemen. https://doi.org/10.35446/dayasaing.v10i2.1636
Lidiana. (2024). The effect of financial technology (fintech) and financial literacy on the financial behaviour of millennials in Indonesia: The mediating role of financial attitude. Journal of Business and Behavioural Entrepreneurship, 8(1), 60–68. https://doi.org/10.21009/JOBBE.008.1.08
Lubis, L., & Lubis, H. K. (2020). The relationship of self-control and conformity with consumptive behavior of network computer engineering students at SMK Negeri 2 Binjai. IJLRES-International Journal on Language, Research and Education Studies, 4(2), 2580–6785. https://doi.org/10.30575/2017/IJLRES-2020050802
Lemeshow, S., Hosmer, D. W., Klar, J., & Lwanga, S. K. (1990). Adequacy of sample size in health studies. John Wiley & Sons.
Marginingsih, R. (2021). Financial technology (fintech) dalam inklusi keuangan nasional di masa pandemi covid-19. Jurnal Akuntansi Dan Keuangan, 8(1). http://ejournal.bsi.ac.id/ejurnal/index.php/moneter56
Mukti, V. W., Rinofah, R., & Kusumawardhani, R. (2022). Pengaruh fintech payment dan literasi keuangan terhadap perilaku manajemen keuangan mahasiswa. https://doi.org/10.29264/jakt.v19i1.10389
Mulya, A. T., & Juwita, H. A. J. (2024). Pengaruh financial technology payment, financial knowledge dan financial attitude terhadap financial management behavior. Jurnal Management Risiko Dan Keuangan, 3(3), 275–287.
https://doi.org/10.21776/jmrk.2024.03.3.06
Mustikasari, A., & Septina, F. (2023). Pengaruh literasi keuangan, impulsive buying, dan pengendalian diri terhadap pengelolaan keuangan pribadi mahasiswa jurusan akuntansi Universitas Ciputra. Jae (jurnal akuntansi dan ekonomi), 8(2), 48–54. https://doi.org/10.29407/jae.v8i2.20179
Otoritas Jasa Keuangan. (2025). Siaran pers bersama: indeks literasi dan inklusi keuangan masyarakat meningkat. https://ojk.go.id/id/berita-dan-kegiatan/siaran-pers
Ode, S. M. W., Sarita, B., Saleh, S., Hamid, W., & Masri, M. (2024). Pengaruh financial literacy, fintech payment, dan locus of control terhadap financial management behavior pada mahasiswa pascasarjana. Jurnal Manajemen dan Kewirausahaan. https://doi.org/10.55598/jmk.v16i2.12
Putri, M., Dwi, H., Syariefful, I., Indah, D., & Slamet, B. (2025). Pengaruh financial technology dan sikap keuangan terhadap perilaku menabung dengan literasi keuangan sebagai variabel intervening pada karyawan Generasi Z. Jurnal Ilmu Manajemen, Ekonomi Dan Kewirausahaan, 5(3), 222–234. https://doi.org/10.55606/jimek.v5i3.7891
Pajrin, M. S., Malihah, L., & Karrimah, H. (2023). Pengaruh fintech payment dan literasi keuangan terhadap perilaku konsumsi mahasiswa febi iai darussalam martapura. performance : Jurnal Bisnis & Akuntansi (Vol. 13, Number 2).
https://doi.org/10.24929/feb.v13i2.2792
Putri, H., Titin, A., & Fitri, A. (2024). Analisis pengaruh literasi keuangan syariah, financial self efficacy dan fintech payment terhadap manajemen keuangan pribadi mahasiswa. Jurnal Bisnis, Ekonomi Syariah, Dan Pajak, 1(3), 200–216. https://doi.org/10.61132/jbep.v1i3.511
Pebriyanti, N. M. D. V., Laksmana, K. A. R. I., & Asmarajaya, I. G. N. A. (2023). Pengaruh literasi keuangan dan penggunaan teknologi digital dalam meningkatkan kinerja keuangan UMKM di Kota Denpasar (studi kasus UMKM bidang fashion di Kota Denpasar Barat). Jurnal Pendidikan Tambusai, 7(3), 23611–23619.
Risma, Y. C., & Esi, F. K. (2025). Pengaruh literasi keuangan, fintech payment dan perilaku konsumtif terhadap perilaku pengelolaan keuangan pribadi generasi z di Jawa Barat. Jurnal lentera bisnis, 14(1), 696–708.
https://doi.org/10.34127/jrlab.v14i1.1393
Rosa, I., & Listiadi, A. (2020). Pengaruh literasi keuangan, pendidikan keuangan di keluarga, teman sebaya, dan kontrol diri terhadap manajemen keuangan pribadi. Jurnal Manajemen, 12(2), 244–252. https://doi.org/10.30872/jmmn.v12i2.7468
Rismaya, M., & Ullum, M. (2025). The role of financial literacy and self-control: risky credit behavior in using paylater. 24(2), 296.
https://doi.org/10.24123/mabis.v24i2.913
Rasyid, N., Goso, G., & Ikbal, M. (2025). The influence of financial technology and financial literacy on financial behavior in the digital era. International Journal of Management Science and Information Technology, 5(1), 116–123. https://doi.org/10.35870/ijmsit.v5i1.3578
Rey-Ares, L., Fernández-López, S., Castro-González, S., & Rodeiro-Pazos, D. (2021). Does self-control constitute a driver of millennials’ financial behaviors and attitudes? Journal of Behavioral and Experimental Economics, 93.
https://doi.org/10.1016/j.socec.2021.101702
Rinaldi, F., Samsudin., Mujab, S., Saryanto., Muzayyin, M. M., Mardikawati, B., Fathani, A. H., Gule, Y., Budiawan., & Anaktototy, K. (2024). Pendidikan untuk Gen Z: top 8 skills untuk Gen Z. Indramayu: Penerbit Adab.
Sulistiyani, T., Muthusamy, A., & Solihudin, A. R. (2023). The effect of financial technology, online shopping, and self-control on consumptive behavior. Jurnal Fokus Manajemen Bisnis, 13(2), 231–240. https://doi.org/10.12928/fokus.v13i2.9081
Sugiyono. (2019). Metode penelitian kuantitatif, kualitatif, dan r&d. Bandung: alfabeta.
Sholeha, A., & Sains Kharisma, A. (2024). Pengaruh financial technology (fintech) terhadap kinerja UMKM melalui mediasi akses keuangan di Provinsi Jawa Tengah, Indonesia. 17(2). https://doi.org/10.46306/jbbe
Septiana, P. E., & Ririn Indriastuti, D. (2025). Pengaruh financial literacy, fintech e-wallet dan financial attitude terhadap perilaku konsumtif pengguna e-commerce shopee pada mahasiswa fakultas ekonomi dan bisnis Universitas Slamet Riyadi Surakarta. 2(2), 158–171. https://doi.org/10.61722/jrme.v2i2.4200
Zulfialdi, M, F., & Sulhan, M. (2023). Pengaruh literasi keuangan, gaya hidup dan pengendalian diri terhadap perilaku keuangan pada mahasiswa PTKIN di Jawa Timur. Jurnal Ilmiah Manajemen, Ekonomi, dan Akuntansi.
https://doi.org/10.31955/mea.v7i2.3056
Published
2026-07-02
How to Cite
Putri, S. P., & Maiyaliza, M. (2026). The influence of financial literacy and fintech payment behavior on healthy financial management behavior the mediating role of financial self-control among generation Z. Journal of Management : Small and Medium Enterprises (SMEs), 19(2), 765-776. https://doi.org/10.35508/jom.v19i2.27836
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Articles
