The Influence of Digital Financial Literacy and Financial Attitudes on Online Loan Decisions and Financial Decision-Making Among Generation Z in Sidoarjo Regency
DOI:
https://doi.org/10.33019/equity.v14i1.737Keywords:
Digital Financial Literacy, Online Loan Decision, Generation ZAbstract
This study examines the role of digital financial literacy and financial attitude in shaping online loan decisions and financial decision-making among Generation Z in Sidoarjo Regency. Generation Z was selected as the focus of the study due to their intensive engagement with digital financial technologies and the growing use of online lending services. The research seeks to determine the extent to which digital financial literacy and financial attitude influence online borrowing decisions and overall financial decision-making behaviour. A quantitative method with a causal-associative approach was applied. Data were gathered through questionnaires distributed to Generation Z individuals who had experience with online lending platforms. The analysis was conducted using Partial Least Squares Structural Equation Modelling (PLS-SEM) with SmartPLS 4. The results indicate that digital financial literacy positively and significantly affects financial decision-making, suggesting that individuals with stronger digital financial competencies are more likely to make prudent financial choices. Financial attitude was also found to have a positive and significant impact on financial decision-making. Nevertheless, neither digital financial literacy nor financial attitude demonstrated a significant influence on online loan decisions. These findings imply that online borrowing behaviour among Generation Z is likely driven by external considerations, including convenience, lifestyle orientation, peer influence, and immediate financial pressures. Overall, improving digital financial literacy and encouraging responsible financial attitudes remain important in enhancing the financial decision-making quality of Generation Z.
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