The Influence of Financial Literacy, E-Money, Consumptive Lifestyle and Financial Distress on Gen Z's Personal Financial Management Behavior with Mental Accounting as a Moderation Variable

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Quantitative analysis shows financial literacy and e-money usage improve financial management, highlighting mental accounting's role.

Financial literacy and e-money usage significantly enhance financial management behavior in Gen Z.
The study found that while financial distress had no significant effect, mental accounting positively influences rational financial decision-making.
Data collected through surveys were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM).
These findings underline the need for improving financial knowledge and self-regulation in the digital economy.

Nursasi et al. (2025) studied this question.

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