Financial Wellness of Generation Z in the Digital Era: Integrating Digital Financial Literacy, Financial Behavior, and Self-Control

Garin Pratiwi Solihati; Hizbul Khootimah Az Zaakiyyah

doi:10.61100/tacit.v4i3.416

Authors

Garin Pratiwi Solihati Universitas Mercu Buana
Hizbul Khootimah Az Zaakiyyah Universitas Mandiri

DOI:

https://doi.org/10.61100/tacit.v4i3.416

Keywords:

Financial Wellness, Digital Financial Literacy, Financial Behavior, Self- Control, Generation Z

Abstract

The development of digital financial services offers convenience while introducing new risks to Generation Z's financial well-being. This study aims to integrate digital financial literacy, financial behavior, and self-control to understand the financial wellness of Generation Z in the digital era. Using a narrative literature review approach, the study synthesizes 30 scholarly publications from 2010 to 2026. The findings indicate that digital financial literacy enhances individuals' understanding of financial products, benefits, and risks. Meanwhile, self-control helps individuals regulate consumption impulses and maintain financial discipline. Financial behavior potentially serves as a mediating mechanism linking these capabilities to financial wellness. The review also highlights the importance of contextual factors, including income, employment, living costs, and social environments. This study contributes by developing an Integrated Financial Wellness Framework that combines cognitive, behavioral, and psychological dimensions. Further empirical testing is needed to validate the proposed relationships across different Generation Z contexts.

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