Bandung, West Java— The Effect of
Financial Socialization and Self-Control on Financial Welfare with Financial
Management Behavior as a Mediation in Generation Z Paylater Users in Bandung.
This research was conducted by Siti Sabila Zulfia Maulana and Ferikawita
Magdalena Sembiring from Jenderal Achmad Yani University in a scientific
article published in the East Asian Journal of Multidisciplinary Research
(EAJMR) in 2026.
Research conducted by Siti Sabila
Zulfia Maulana and Ferikawita Magdalena Sembiring revealed that financial
management behavior is an important bridge that connects financial
socialization and self-control with long-term financial well-being.
Paylater:
financial convenience that brings new risks
The development
of financial technology has changed the way the younger generation conducts
transactions. The Paylater feature allows consumers to buy first and pay later
without a physical credit card, making it a quick solution for short-term
funding needs. Generation Z who are familiar with digital technology is the
group that is the fastest to adopt this service.
However, this
convenience also increases the potential for consumptive behavior. In the city
of Bandung, which is an area with high growth of Paylater users, the use of
this service is often not accompanied by adequate financial management skills. Some
respondents in this study admitted to experiencing stress due to monthly bills,
late payments, and financial pressure due to excessive use of Paylater.
This phenomenon
shows that Paylater is not only a practical transaction tool, but also a factor
that can affect financial well-being if not managed wisely.
The role of
financial socialization in shaping financial habits
Research has
found that financial socialization has a significant influence on financial
management behavior. This socialization includes the learning process from the
family, social environment, formal education, to digital media.
Individuals who
are used to discussing finances with their parents or getting financial
education early on tend to have better money management habits. They are better
able to budget, save, and weigh risks before making financial decisions.
For Generation
Z of Paylater users, financial socialization serves as a foundation in
understanding the long-term consequences of consumption decisions. Without this
learning, the use of Paylater risks turning into a pattern of harmful impulsive
consumption.
Self-control
as a determining psychological factor
In addition to
financial socialization, self-control is an important variable in this study.
Self-control describes the ability of individuals to resist impulses,
distinguish between needs and wants, and make rational financial decisions.
The results of
the study show that the higher the level of self-control a person, the better
his financial management behavior will be. In the context of Paylater,
self-control helps users avoid impulse purchases driven by the ease of digital
transactions. The ability to delay satisfaction and consider long-term impacts
has been proven to contribute to better financial stability.
Financial
management behavior as a key factor
The study's key
findings place financial management behavior as a key factor that mediates the
relationship between financial socialization, self-control, and financial
well-being.
This behavior
includes real practices such as:
- Budget planning and expense management.
- Debt control and timely payments.
- Habit of saving and evaluating financial conditions
regularly.
Research notes
that financial socialization and self-control do not automatically improve
financial well-being if they are not embodied in concrete actions. In other
words, knowledge and intent must translate into consistent financial habits.
There are at
least three main findings from the study:
- Financial socialization and self-control have a
positive effect on financial management behavior.
- Financial management behavior improves the financial
well-being of Generation Z of Paylater users.
- Financial management behavior acts as a mediator that
connects social and psychological factors with real financial outcomes.
Impact on
financial education and the fintech industry
The findings of
this study provide important implications for the world of education,
regulators, and the fintech industry. Financial education is not enough to just
emphasize literacy or knowledge, but it must also develop self-control skills
and financial management practices.
Educational
institutions and financial institutions are advised to develop training
programs that involve debt management simulations, long-term financial
planning, and strengthening healthy financial habits.
In addition,
fintech companies also need to consider an educational approach in Paylater's
services so that young users understand the risks and financial
responsibilities that come with it.
Wider social
implications
More broadly,
this study shows that the financial well-being of Generation Z is not only
influenced by income or access to technology, but also by social and
psychological factors. Financial socialization from the surrounding environment
and the ability to control themselves are important capital in facing a
fast-paced digital economy ecosystem.
With the
increasing use of Paylater in Indonesia, the results of this study can be a
reference for policymakers in designing more effective and sustainable national
financial education strategies.
Author
profile
•
Siti Sabila Zulfia Maulana – Jenderal Achmad
Yani University.
•
Ferikawita Magdalena Sembiring – Jenderal Achmad
Yani University.
Research
source
Maulana, S. S. Z., &
Sembiring, F. M. (2026). The Effect of Financial Socialization and
Self-Control on Financial Well-Being Mediated by Financial Management Behavior
among Generation Z Paylater Users in Bandung.
East Asian
Journal of Multidisciplinary Research (EAJMR), Vol. 5 No. 2, pp. 431–446.
DOI: https://doi.org/10.55927/eajmr.v5i2.9
Official URL : https://journaleajmr.my.id/index.php/eajmr
0 Komentar