Dinamika Personal Financial Management Behavior Mahasiswa Generasi Z: (Peran Financial Knowledge dan Financial Attitude dengan Moderasi Fear of Missing Out (FOMO))

Ari Siswati; Yeni Indraningtyas; Tri Imaliya; Dian Novitasari

doi:10.30640/digital.v5i2.7138

Authors

Ari Siswati Universitas Ngudi Waluyo
Yeni Indraningtyas Universitas Ngudi Waluyo
Tri Imaliya Universitas Sains Dan Teknologi Komputer
Dian Novitasari Institut Teknologi dan Bisnis Nasional

DOI:

https://doi.org/10.30640/digital.v5i2.7138

Keywords:

Financial Attitude, Financial Knowledge, Generation Z, Moderated Regression Analysis, Ungaran Regency

Abstract

The development of social media has given rise to the Fear of Missing Out (FOMO) phenomenon, which has the potential to influence the financial behavior of Generation Z. This study aims to analyze the influence of financial knowledge and financial attitude on personal financial management behavior with FOMO as a moderating variable in Generation Z students. The study used a quantitative approach with a survey method on 250 Generation Z students in Ungaran Regency who were selected through purposive sampling. Data were analyzed using Moderated Regression Analysis (MRA) using SPSS 26. The results showed that FOMO and financial attitude had a significant positive effect on personal financial management behavior. FOMO was proven to weaken the influence of financial knowledge on personal financial management behavior, but did not moderate the influence of financial attitudes. This study enriches the Theory of Planned Behavior and Financial Socialization Theory in explaining the financial behavior of Generation Z.

References

Aisyah, R. N., Widagdo, B., & Warsono, W. (2023). Antecedent Factors of Financial Management Behavior: Evidence from a S tudy on E-Wallet User Students. Business Innovation Management and Entrepreneurship Journal. https://doi.org/10.22219/bimantara.v2i02.29751

Ardona, T., & Khumairoh, S. (2025). Personal financial management among university students and its impact on consumeristic behavior. Retrieved https://ejournal.uinsaid.ac.id/academica/article/view/14375

Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211. https://doi.org/10.1016/0749-5978(91)90020-T

Azizeh, N., Widyastuti, U., & Yusuf, M. (2022). Determinant of Financial Management Behavior and Impact on Financial S atisfaction in Generation Z. Pedagogi: Jurnal Penelitian Pendidikan. https://doi.org/10.21009/jdmb.05.2.4

Bado, B., Hasan, M., Tahir, T., & Hasbiah, S. (2023). How do Financial Literacy, Financial Management Learning, Financial At titudes and Financial Education in Families Affect Personal Financial Management in Generation Z? International Journal of Professional Business Review. https://doi.org/10.26668/businessreview/2023.v8i5.2001

Badan Pusat Statistik. (2023). Proyeksi penduduk Indonesia 2020-2050. Jakarta: BPS.

Griffin, L., Hosking, W., Gill, P. R., Shearson, K., Ivey, G., & Sharples, J. (2022). The Gender Paradox: Understanding the Role of Masculinity in Suicidal Ideation. American Journal of Men’s Health, 16(5), 15579883221123853. https://doi.org/10.1177/15579883221123853

Hernawati, R., & Manek, A. M. (2025). Peran literasi keuangan dalam memoderasi pengaruh doom spending dan fe ar of missing out terhadap perilaku pengelolaan keuangan generasi z di kota kupang. Analisis (Fakultas Ekonomi Universitas Flores). https://doi.org/10.37478/als.v15i02.5456

Hidayat, T., Wahjoedi, W., & Wahyono, H. (2026). Financial Socialization Among Generation Z: How Children of Millennial Parents Internalize Money Values. Retrieved https://jurnal.ulb.ac.id/index.php/eduscience/article/view/8403

Jordan, A., & Nuringsih, K. (2023). Understanding financial behavior in Generation Z. https://doi.org/10.24912/ijaeb.v1i4.2535-2546

Maheshwari, C. (2025). Chasing Financial Goals: How Social Media Engagement, Fear of Missing Out (FoMO), and Digital Financial Literacy Shape Investment Behaviour of Gen Z? Retrieved https://www.researchgate.net/profile/Charu-Maheshwari2/publication/400621711

Mayori, C., & Hidayat, A. M. (2025). Shaping financial futures: Exploring the impact of financial literacy, inclusion, and behavior on financial planning in Telkom University’s Generation Z. Jurnal Siasat Bisnis. https://doi.org/10.20885/jsb.vol29.iss2.art6

Mukti, A. H., Sastrodiharjo, I., & Hariyanto, O. I. B. (2024). Financial Literacy, Financial Management, Social Legitimacy and Being FOMO on Impulsive Buying: Evidence on Leisure Activity Coldplay Concer t Euphoria on Indonesian Gen Z Generation. Atestasi. https://doi.org/10.57178/atestasi.v7i1.843

Puspasari, E., Pravitasari, C. F., & Kurniawan, R. (2025). Swipe, Scroll, Spend: Uncovering the Impact of FOMO and Digital Litera cy on Generation Z’s Financial Behaviour. https://doi.org/10.32424/icsema.1.1.374

Risqina, F. S., & Puspita, V. A. (2025). Pengaruh Literasi Keuangan Terhadap Perilaku Fear Of Missing Out (FOMO ) dalam Pengelolaan Keuangan Pribadi pada Generasi-Z di Kota Bandung. Jurnal Akuntansi, Ekonomi Dan Manajemen Bisnis. https://doi.org/10.55606/jaemb.v5i2.6766

Saleh, W. (2026). The Influence of Financial Literacy, Fomo Behavior, Income and Self-Co ntrol on Generation Z’s Personal Financial Planning in Palu City. Retrieved https://pusdig.web.id/akuntansi/article/view/726

Wahyuni, H., Erwantiningsih, E., & Pudyaningsih, A. R. (2025). Analysis Financial Management Behavior through Financial Literacy: Gen Z’s Preferences Fintech, FoMO, Love of Money. Jurnal Manajemen Dan Kewirausahaan. https://doi.org/10.26905/jmdk.v13i1.15526

Wulansari, D., & Safitri, H. (2026) The Impact of Hedonistic Lifestyle, FOMO, and Financial Literacy on Personal Financial Management among Gen Z Students in Pontianak with Self-Control as a Moderating Variable. Retrieved https://e-journal.uac.ac.id/index.php/iijse/article/view/9799