The influence of financial socialization, financial attitude and locus of control on financial behavior with financial literacy as a mediating variable: study on Generation Z in Malang City

Zida Fitrotus Salsabila and Sumiati
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Zida Fitrotus Salsabila: Department of Management, Faculty of Economic and Business, Brawijaya University, Malang, Indonesia
Sumiati: Department of Management, Faculty of Economic and Business, Brawijaya University, Malang, Indonesia

International Journal of Research in Business and Social Science (2147-4478), 2025, vol. 14, issue 3, 187-197

Abstract: The study aims to examine and analyze the role of financial socialization, financial attitude, and locus of control on financial behavior with financial literacy as a mediating variable. This study uses quantitative data. The object of this research is generation z in Malang city. The sample size in this study was determined using a purposive sampling technique with a total sample of 240 generation z in Malang city. The data collection method uses a questionnaire, data is analyzed using PLS-SEM. The research results show (i) financial socialization not influences financial behavior, (ii) financial attitude influences financial behavior, (iii) locus of control influences financial behavior, (iv) financial socialization, financial attitude and locus of control influences financial literacy, and finally (v) financial literacy mediates between financial socialization, financial attitude, locus of control and financial behavior. The importance of financial behavior cannot be ignored, as it plays a crucial role in achieving individual well-being and overall economic stability. Good financial behavior helps individuals manage their spending, savings, and investments wisely, so that they can achieve their short-term and long-term financial goals. This research makes a theoretical contribution by supporting the theory of Planned Behavior and for educational institutions, non-governmental organizations and other related parties can take the initiative to provide training related to financial literacy. It is hoped that future research can add new variables to influence financial behavior. Key Words: Financial Socialization, Financial Attitude, Locus of Control, Financial Literacy, Financial Behavior

Date: 2025
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