FINANCIAL MANAGEMENT OF GENERATION Z: A LITERATURE REVIEW ON FINANCIAL INDEPENDENCE AMID THE DIGITAL LIFESTYLE
DOI:
https://doi.org/10.56244/jimia.v19i2.1134Keywords:
Generation Z, personal financial management, digital lifestyle, financial literacy, systematic literature reviewAbstract
The development of digital technology has significantly influenced the way Generation Z manages personal finances. Easy access to digital financial applications, social media, and various online consumption services has driven changes in their spending patterns and financial decision-making. This study aims to provide an in-depth review of the dynamics of Generation Z’s personal financial management in the midst of a digital lifestyle, employing a Systematic Literature Review approach. From a total of 670 articles retrieved through the ScienceDirect database, filtering was conducted based on publication year (2020–2025), article type (research article), topic relevance, and open access availability. This process resulted in 15 articles eligible for further analysis. Thematic synthesis revealed four key issues: (1) the importance of financial literacy in supporting decision-making, (2) the influence of social media on consumptive behavior, (3) the high adoption of financial technologies such as e-wallets and PayLater services, and (4) the relationship between financial management and psychological well-being. These findings indicate that although Generation Z is immersed in a digital environment filled with consumptive temptations, technology-based financial education approaches hold great potential in fostering financial independence. Accordingly, this study makes an important contribution to the development of digital financial literacy strategies and more contextual behavioral interventions for the younger generation.
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