Analysis of The Influence of Financial Literacy on Consumptive Behavior: Self-Control as A Mediating Variable A Study on Generation Z

Abstract

This study aims to analyze the influence of financial literacy on the consumptive behavior of Generation Z students, with self-control as a mediating variable. This research employs a quantitative method with a Path Analysis approach. The research sample consists of Generation Z students selected using a Simple Random Sampling technique, with the sample size determined using Lemeshow's formula. Data were collected through a questionnaire distributed via Google Forms. The results indicate that financial literacy significantly influences consumptive behavior. However, this influence can be mediated by self-control. Students with good financial literacy tend to have higher self-control, enabling them to manage their consumptive behavior. Conversely, students with low financial literacy are more vulnerable to utilizing credit facilities such as pay-later services and credit cards without careful financial planning. These findings emphasize the importance of strengthening financial literacy and self-control among students to avoid excessive consumptive behavior. Universities and the government can play a role in enhancing financial education to foster more prudent consumption patterns among Generation Z.