Financial Literacy, Financial Knowledge, and Financial Socialization as Determinants of Financial Management Behavior: The Mediating Role of Perceived Usefulness of Financial Technology

Abstract

This study aims to examine the influence of financial literacy, financial knowledge, and financial socialization on financial management behavior among Generation Z in Banyumas Regency, with the perceived usefulness of financial technology as a mediating variable. A quantitative approach with a cross-sectional survey design was employed. Data were collected through an online questionnaire from Generation Z respondents aged 17–30 years and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results show that financial knowledge and financial socialization have a positive and significant effect on financial management behavior, whereas financial literacy does not. Financial literacy positively and significantly affects the perceived usefulness of financial technology, while financial knowledge and financial socialization do not. Perceived usefulness of financial technology has a positive and significant effect on financial management behavior and mediates the relationship between financial literacy and financial management behavior. These findings indicate that Generation Z’s financial management behavior is primarily shaped by financial knowledge and financial socialization through direct pathways, while financial literacy contributes indirectly by enhancing perceptions of the usefulness of financial technology.