Abstract
Purpose: This study aims to examine the effect of e-wallet use on the personal financial management of Generation Z, with financial literacy as a moderating variable. The theoretical framework employed is the Theory of Planned Behavior (TPB).
Design/Methodology/Approach: Data were collected through a questionnaire using a five-point Likert scale. The population consisted of Accounting students at Sunan Gresik University. The sample was selected using purposive sampling, based on the criteria of being a Generation Z Accounting student at Sunan Gresik University who has used an e-wallet, resulting in a final sample of 36 respondents. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0.
Findings: The results indicate that e-wallet use has no significant effect on the personal financial management of Generation Z. Financial literacy, however, was found to significantly affect personal financial management. Furthermore, financial literacy does not significantly moderate the relationship between e-wallet use and personal financial management, suggesting that theoretical financial knowledge alone is insufficient to shape financial behavior without adequate self-control.
Research Implications: Sound financial management contributes to long-term financial well-being; therefore, financial literacy needs to be reinforced by strong self-control so that Generation Z, accustomed to the convenience of e-wallets, can manage their finances according to actual needs rather than impulsive wants. These findings highlight the importance of collaboration between higher education institutions and fintech providers in fostering responsible financial behavior through education and supportive digital features.