Digital Financial Literacy, Financial Technology Adoption, and MSME Financial Management on Financial Well-Being (EKOMBIS REVIEW Jurnal Ilmiah Ekonomi dan Bisnis)

Summary

• MSMEs in Indonesia comprise more than 65 million business units, contributing around 61% to national GDP and absorbing up to 97% of the national workforce.p.2
• The study gathered data from a sample of at least 200 Generation Z MSME respondents in Medan City using an online questionnaire with a 1–5 Likert scale.p.1
• Evaluating the structural model revealed an R-Square value of 0.290 for Financial Resilience and 0.316 for Financial Well-Being.p.9

Key insights

1. Digital financial literacy, financial technology adoption, and MSME financial management have a positive and significant effect on financial resilience.p.1
2. Financial technology adoption and MSME financial management do not exert a direct significant effect on financial well-being.p.1
3. Financial resilience acts as a significant mediator between digital financial literacy, technology adoption, financial management, and financial well-being.p.1
4. Generation Z MSME owners frequently prioritize reallocating earnings into business capital over improving personal financial well-being directly.p.11