FINANCIAL PLANNING FOR MILLENNIALS AND GEN-Z (STUDY OF MILLENNIALS AND GEN-Z FINANCIAL BEHAVIOR)

  • Yosef Budi Susanto Faculty of Business, Universitas Multimedia Nusantara
  • Johan Setiawan Faculty of Engineering and Informatics, Universitas Multimedia Nusantara
  • Stefanus Ariyanto Faculty of Business, Universitas Multimedia Nusantara
DOI: https://doi.org/10.31937/manajemen.v14i1.2533

Abstract

Abstract - Covid19 pandemic made many people lose their jobs, and many have no enough savings, so that they had to reduce their living standards. This should not happen if they did financial planning.  The aim of this research to look for factors affecting interest in financial planning adoption by Millennials and Z generation. Exploratory investigation is used to identify the research problem, objectives, and framework. Quantitative approach, is used to process data from 100 respondents, using SmartPLS to test the proposed hypothesis.  The result shows that level of financial planning literacy and benefit expectancy, had a significant effect on the adoption of financial planning, and on the positive attitude towards financial planning.  In addition, Millennials and Z have high enough expectations that financial planning will provide well-being; and there is no mediation effect of Attitude Towards Financial Planning. As a conclusion, Millennials and Generation Z have not done adequate financial planning to ensure to meet their future living needs, such as the need to marry, have children, buy a house, continue their education, and emergency funds. Financial planning literacy and the expectation of the benefits are the factors that most influence the adoption of financial planning by millennials and Generation Z.

Keywords: Financial Planning Literacy; Financial Health Examination; UTAUT; Social Influence; Facilitating Condition

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Published
2022-06-30
How to Cite
Susanto, Y., Setiawan, J., & Ariyanto, S. (2022). FINANCIAL PLANNING FOR MILLENNIALS AND GEN-Z (STUDY OF MILLENNIALS AND GEN-Z FINANCIAL BEHAVIOR). Ultima Management : Jurnal Ilmu Manajemen, 14(1), 156-168. https://doi.org/https://doi.org/10.31937/manajemen.v14i1.2533
Issue
Vol 14 No 1 (2022): Ultima Management : Jurnal Ilmu Manajemen
Section
Articles
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