Factors Influencing Financial Well-Being Among Gen Z in the Digital Era

This study investigates the factors influencing the financial well-being of Generation Z in the digital era, focusing on the mediating role of financial inclusion behavior. A quantitative survey was adopted to collect data from 390 Gen Z respondents. The findings reveal that both Financial Attitude and Social Influence have a strong direct impact on financial well-being. These two factors, along with Digital Financial Literacy, also significantly drive Financial Inclusion Behavior. A key finding is that while digital literacy strongly influences behavior, it has no direct effect on financial well-being, instead, its positive impact is fully channeled through active use of digital financial services. The study confirms that financial inclusion behavior successfully mediates the relationship between all three independent variables and financial well-being. This research underscores that while attitudes and social influence can directly improve a sense of well-being, financial knowledge must be actively applied through financial behaviors to achieve a similar result. The findings provide valuable insights for financial educators and financial companies, highlighting the importance of promoting not just knowledge but also the active use of digital tools to enhance the financial security of young adults.