The Effect of Financial Literacy, Financial Technology Literacy, and Risk Perception on The Decision To Use Online Loans Among Generation Z
DOI:
https://doi.org/10.24256/kharaj.v8i3.11168Keywords:
Financial Literacy, Financial Technology Literacy, Risk Perception, Online Loan Decisions, Generation ZAbstract
This study aims to analyze the influence of financial literacy, financial technology literacy, and risk perception on the decision to use online loans among Generation Z. The study used a quantitative approach with a survey method. Primary data were obtained by distributing questionnaires to 131 Generation Z respondents who met the research criteria using a purposive sampling technique. Data analysis was carried out with the help of IBM SPSS 29 through validity tests, reliability tests, descriptive statistical analysis, and multiple linear regression. The results showed that financial literacy had a positive and significant effect on the decision to use online loans with a significance value of 0.000 and a regression coefficient of 0.543. Financial technology literacy also had a positive and significant effect on the decision to use online loans with a significance value of 0.000 and a regression coefficient of 0.483. Meanwhile, risk perception had a negative and significant effect on the decision to use online loans with a significance value of 0.000 and a regression coefficient of -0.333. These findings indicate that the higher the level of financial literacy and financial technology literacy possessed by Generation Z, the better and more responsible their decisions in using online loan services. Conversely, the higher the perceived risk, the lower their likelihood of using these services. This study concludes that financial literacy, financial technology literacy, and risk perception are important factors influencing Generation Z's decision to use online loans. Therefore, increased education regarding financial management, the use of financial technology, and an understanding of digital financial risks is necessary to encourage wiser and more responsible use of online loans.
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