Financial Literacy, Lifestyle, and Self-Control in Generation Z's Saving Behavior: The Mediating Role of Financial Attitude

Abstract

Purpose: This study examines the effects of financial literacy, lifestyle, and self-control on saving behavior among Generation Z in Pontianak City, with financial attitude as a mediating variable. Research Method: Using a quantitative associative design, the study analyzed questionnaire data from 150 Generation Z respondents selected through purposive sampling in Pontianak City. Partial least squares structural equation modeling (PLS-SEM) with SmartPLS 4.0 was used to evaluate the measurement and structural models and to test direct and indirect effects. Results and Discussion: Financial literacy and lifestyle positively and significantly affect financial attitude and saving behavior. Self-control has no significant effect on either financial attitude or saving behavior. Financial attitude positively affects saving behavior and significantly mediates the effects of financial literacy and lifestyle, but not self-control, on saving behavior. Implications: The cross-sectional, purposive sample limits generalizability, and financial literacy is self-assessed rather than objectively tested. The findings support initiatives that strengthen financial literacy and constructive financial attitudes while recognizing the role of lifestyle in saving behavior. Originality: The study integrates financial literacy, lifestyle, self-control, financial attitude, and saving behavior in a single mediation model for Generation Z in Pontianak City, distinguishing direct and indirect pathways to saving behavior.