How Financial Behavior Relates to Financial Satisfaction of Gen Z?
Keywords:
Financial Knowledge, Hedonistic Lifesyle, Financial Satisfaction and Financial BehaviourAbstract
Research aims:
To determine the influence of financial knowledge and hedonistic lifestyle on financial satisfaction through financial behavior as a mediating variable among Millennial Generations In Pekanbaru
Design/Methodology/Approach: Primary data obtained from questionnaires. This study consisted of 150 sample respondents. The sampling method used was purposive sampling, and analyzed using the SmartPLS 4 application.
Research findings: The results of this study indicate that the variables of financial knowledge, hedonistic lifestyle and financial behavior have a positive and significant effect on financial satisfaction. Financial knowledge and hedonistic lifestyle have a positive and significant effect on financial behavior. Financial behavior mediates the relationship between financial knowledge and lifestyle on financial satisfaction.
Theoretical Contribution/Originality: Financial satisfaction refers to several theories, namely the theory of planned behavior, subjective well-being, financial satisfaction, financial behavior, financial literacy, financial knowledge and hedonistic lifestyle.
Practical/Policy/Social Implications: To achieve financial satisfaction, financial knowledge is very important in increasing awareness of applying good financial practices because it can control a hedonistic lifestyle and encourage healthy financial behavior.
Research Limitations/Implications:
This study has a weakness, namely that in the results of this study all independent variables have a small influence on the dependent variable. It is expected that research on financial satisfaction can reconsider the determination of variables and the addition of research samples.
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