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The research of this study investigates financial management behavior among adolescents aged 9 to 24 years or referred to as Generation Z in the city of Surabaya, it also analyzes the relationship between financial knowledge, financial attitude, financial self-efficacy, income, locus of control, and lifestyle. Theobject of this research is Generation Z in Surabaya and used the technique of purposive sampling and snowball sampling. The number of respondents obtained was 320 respondents by distributing questionnaires online. This research is conclusive causality and uses the Structural Equation Modeling (SEM) analysis technique in the AMOS software. The results show that financial knowledge, financial attitude, and financial self-efficacy have no effect on financial management behavior, it proves that although financial knowledge, financial attitude, and financial self-efficacy of respondents in a good category cannot guarantee that their financial management behavior will be good and vice versa. While the income, locus of control and lifestyle has asignificant impact on financial management behavior. because the sample dominant is 18 to 22 year-olds and almost all of them have the highest income <Rp1.500.000 in one month or it can be said that they are not financially independent so they can not manage financial independence to the greatest extent and do not have much experience related to finance. It was also caused by female respondents who often engage in implusive buying. This study could be useful references for various parties, especially Generation Z, to be responsible for making financial decisions and wise in managing their finances.
Nisa et al. (Thu,) studied this question.