PENGARUH LITERASI KEUANGAN DAN PERILAKU KEUANGAN TERHADAP PERILAKU KONSUMTIF GENERASI Z DENGAN PEMBAYARAN DIGITAL SEBAGAI VARIABEL MODERASI

This study aims to analyze the influence of financial literacy and financial behavior on Generation Z's consumer behavior, with digital payments as a moderating variable. Generation Z is an age group born in the 1997–2012 range and grew up in a digital environment, which makes them very familiar with technology, including in financial matters such as the use of digital wallets. The phenomenon of increasing digital transactions and easy access to payments raises concerns about excessive consumer behavior. This study uses a quantitative approach with a asosiative method. Data collection was carried out through a survey using a questionnaire to 200 Generation Z respondents who live in West Java and actively use digital payments. The sampling technique used was cluster random sampling. The data obtained were analyzed using the Structural Equation Modeling (SEM) method through the SmartPLS application. The results of the study show that: (1) financial literacy has a positive and significant effect on Generation Z's consumer behavior; (2) financial behavior also has a positive and significant effect on consumer behavior; (3) digital payments have a negative effect on consumer behavior; (4) digital payments have not been proven to moderate the influence of financial literacy on consumer behavior, although it shows a positive direction in the relationship but is not significant; and (5) digital payments also do not moderate the influence of financial behavior on consumer behavior, and the overall direction is negative.
Keywords: Financial Literacy, Financial Behavior, Consumptive Behavior, Digital Payment, Generation Z