The Influence of Financial Skills, Digital Financial Literacy, Financial Autonomy, and Impulsivity in Financial Decision Making and Financial Well-being (A Comprehensive Study on Generation Z in Indonesia)

Afifah Ghaysani, Putri (2025) The Influence of Financial Skills, Digital Financial Literacy, Financial Autonomy, and Impulsivity in Financial Decision Making and Financial Well-being (A Comprehensive Study on Generation Z in Indonesia). S1 thesis, Universitas Andalas.

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Abstract

This study aims to analyze the influence of financial skills, digital financial literacy, financial autonomy, and impulsivity on financial decision-making and financial well-being of Generation Z in Indonesia. The data collection technique was carried out through a survey, by distributing closed questionnaires online via Google Form. The number of samples in this study was 953 respondents selected using the simple random sampling technique. The data were analyzed using a two-stage approach in the Partial Least Squares (PLS) model, which is a component of the Structural Equation Model (SEM) using SmartPLS v4.0.9.9 software. The results showed that financial skills and financial autonomy had a positive and significant effect on financial decision-making, while digital financial literacy had a positive but insignificant effect. On the other hand, impulsivity had a negative and insignificant effect on financial decision-making. Furthermore, financial skills and financial autonomy had a positive and significant effect on financial well-being through the mediation of financial decision-making. Digital financial literacy also had a positive but insignificant effect on financial well-being through financial decision-making. Impulsivity was shown to have a negative and insignificant effect on financial well-being with financial decision-making as a mediating variable. In addition, financial decision-making has a positive and significant impact on financial well-being. This study emphasizes the importance of strengthening the financial capacity of the younger generation, especially generation Z, as a provision in building sustainable financial well-being. Keywords: Financial Skills, Digital Financial Literacy, Financial Autonomy, Impulsivity, Financial Decision Making, Financial Well-being, Generation Z, Indonesia

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