Digital Financial Literacy, Financial Behaviors, and Well-Being: Evidence from Rural Millennial Families in Lumajang East Java

Authors

  • Rizqi Khoirunisa Politeknik Negeri Malang
  • Ahmad Mustofa Politeknik Negeri Malang
  • Bimo Setyawan Politeknik Negeri Malang
  • Lely Indah Kurnia Politeknik Negeri Malang
  • Subekhi Hadi Purnomo Politeknik Negeri Malang

DOI:

https://doi.org/10.31102/equilibrium.13.02.98-113

Keywords:

Digital Financial Literacy, Financial Behavior, Financial Well-Being, Rural Areas

Abstract

Millennial families in rural areas play an important role in driving the digital economy but still face gaps in financial literacy and access to digital financial services. This study aims to analyse the effect of Digital Financial Literacy (DFL) on Financial Well-Being (FWB) through Spending Behavior, Saving Behavior, and Investment Behavior among millennial families in rural areas of Lumajang, East Java. The research employed a quantitative survey method involving 400 respondents selected using quota sampling and analyzed with PLS-SEM. The results indicate that DFL does not directly affect FWB but has an indirect effect through the mediating variables of spending, saving, and investment behaviors. These findings highlight the importance of enhancing digital financial literacy accompanied by positive changes in financial behavior to improve the financial well-being of millennial families in rural areas

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Published

2025-12-09

How to Cite

Khoirunisa, R., Mustofa, A., Setyawan, B., Kurnia, L. I., & Purnomo, S. H. (2025). Digital Financial Literacy, Financial Behaviors, and Well-Being: Evidence from Rural Millennial Families in Lumajang East Java. Wacana Equiliberium (Jurnal Pemikiran Penelitian Ekonomi), 13(02), 98–113. https://doi.org/10.31102/equilibrium.13.02.98-113

Issue

Vol. 13 No. 02 (2025): Wacana Equiliberium (Jurnal Pemikiran Penelitian Ekonomi) : Desember 2025

Section

Articles