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Copyright (c) 2025 Goso Goso, Jumawan Jasman, Husmaruddin Husmaruddin, Syamsu Alam (Author)
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Digital Financial Literacy and Decision-Making: A Behavioural Management Model for Digital Natives
Corresponding Author(s) : Goso Goso
Jurnal Minds: Manajemen Ide dan Inspirasi,
Vol. 12 No. 2 (2025): December
Abstract
This study develops an integrative behavioral framework to examine how digital financial literacy (DFL) influences financial decision-making among digital-native cohorts. The analysis extends existing behavioral models by incorporating risk tolerance and fintech trust as mechanisms shaping investment, consumption, and saving choices. Using a mixed-method design with 500 survey responses and 30 interviews, the study shows that DFL alters decision patterns in ways mediated by both confidence and caution. A paradox emerges: high trust in fintech often coexists with weak awareness of digital risks, underscoring tensions between literacy and reliance. The findings highlight that financial institutions and policymakers must balance accessibility and innovation with safeguards that foster prudent behavior in digitally native populations.
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- Abdallah, W., Tfaily, F., & Harraf, A. (2025). The impact of digital financial literacy on financial behavior: customers’ perspective. Competitiveness Review: An International Business Journal, 35(2), 347–370. https://doi.org/10.1108/CR-11-2023-0297
- Aldboush, H. H. H., & Ferdous, M. (2023). Building Trust in Fintech: An Analysis of Ethical and Privacy Considerations in the Intersection of Big Data, AI, and Customer Trust. International Journal of Financial Studies, 11(3), 90. https://doi.org/10.3390/ijfs11030090
- Azeez, N. P. A., & Akhtar, S. M. J. (2021). Digital Financial Literacy and Its Determinants: An Empirical Evidences from Rural India. South Asian Journal of Social Studies and Economics, 8–22. https://doi.org/10.9734/sajsse/2021/v11i230279
- B. Maddilety Reddy, Mrs. M. Swathi, & Dr. Chokkamreddy Prakash. (2024). An Empirical Analysis of Investor Behavior and Influencing Factors in Investment Preferences: A Study in Hyderabad City. International Journal of Advanced Research in Science, Communication and Technology, 201–209. https://doi.org/10.48175/IJARSCT-19534
- Banu, P., & Ribu, P. (2025). Financial Literacy and Investment Preferences: Analyzing Investor Behavior in the Stock Market. International Journal of Scientific Research in Engineering and Management. https://doi.org/10.55041/ijsrem44637
- Bapat, D. (2020). Antecedents to responsible financial management behavior among young adults: moderating role of financial risk tolerance. International Journal of Bank Marketing, 38(5), 1177–1194. https://doi.org/10.1108/IJBM-10-2019-0356
- Bayar, Y., Sezgin, H., Öztürk, Ö., & Sasmaz, M. U. (2020). Financial Literacy and Financial Risk Tolerance of Individual Investors: Multinomial Logistic Regression Approach. SAGE Open, 10. https://doi.org/10.1177/2158244020945717
- Carden, L., & Wood, W. (2018). Habit formation and change. Current Opinion in Behavioral Sciences, 20, 117–122. https://doi.org/10.1016/j.cobeha.2017.12.009
- Choung, Y., Chatterjee, S., & Pak, T.-Y. (2023). Digital financial literacy and financial well-being. Finance Research Letters, 58, 104438. https://doi.org/10.1016/j.frl.2023.104438
- Dewi, V. I., Effendi, N., Ervani, E., & Sapulette, M. S. (2025). Do Financial Knowledge and e-Payment Awareness Affect Saving and Spending Behavior? The Mediating Role of Financial Risk Tolerance. Gadjah Mada International Journal of Business, 27(2), 149–173. https://doi.org/10.22146/gamaijb.v27i2.21214
- Eshet, & Alkalai, Y. (2004). Digital Literacy: A Conceptual Framwork For Survival. Journal of Educational Multimedia And Hypermedi, 13, 93–106.
References
Abdallah, W., Tfaily, F., & Harraf, A. (2025). The impact of digital financial literacy on financial behavior: customers’ perspective. Competitiveness Review: An International Business Journal, 35(2), 347–370. https://doi.org/10.1108/CR-11-2023-0297
Aldboush, H. H. H., & Ferdous, M. (2023). Building Trust in Fintech: An Analysis of Ethical and Privacy Considerations in the Intersection of Big Data, AI, and Customer Trust. International Journal of Financial Studies, 11(3), 90. https://doi.org/10.3390/ijfs11030090
Azeez, N. P. A., & Akhtar, S. M. J. (2021). Digital Financial Literacy and Its Determinants: An Empirical Evidences from Rural India. South Asian Journal of Social Studies and Economics, 8–22. https://doi.org/10.9734/sajsse/2021/v11i230279
B. Maddilety Reddy, Mrs. M. Swathi, & Dr. Chokkamreddy Prakash. (2024). An Empirical Analysis of Investor Behavior and Influencing Factors in Investment Preferences: A Study in Hyderabad City. International Journal of Advanced Research in Science, Communication and Technology, 201–209. https://doi.org/10.48175/IJARSCT-19534
Banu, P., & Ribu, P. (2025). Financial Literacy and Investment Preferences: Analyzing Investor Behavior in the Stock Market. International Journal of Scientific Research in Engineering and Management. https://doi.org/10.55041/ijsrem44637
Bapat, D. (2020). Antecedents to responsible financial management behavior among young adults: moderating role of financial risk tolerance. International Journal of Bank Marketing, 38(5), 1177–1194. https://doi.org/10.1108/IJBM-10-2019-0356
Bayar, Y., Sezgin, H., Öztürk, Ö., & Sasmaz, M. U. (2020). Financial Literacy and Financial Risk Tolerance of Individual Investors: Multinomial Logistic Regression Approach. SAGE Open, 10. https://doi.org/10.1177/2158244020945717
Carden, L., & Wood, W. (2018). Habit formation and change. Current Opinion in Behavioral Sciences, 20, 117–122. https://doi.org/10.1016/j.cobeha.2017.12.009
Choung, Y., Chatterjee, S., & Pak, T.-Y. (2023). Digital financial literacy and financial well-being. Finance Research Letters, 58, 104438. https://doi.org/10.1016/j.frl.2023.104438
Dewi, V. I., Effendi, N., Ervani, E., & Sapulette, M. S. (2025). Do Financial Knowledge and e-Payment Awareness Affect Saving and Spending Behavior? The Mediating Role of Financial Risk Tolerance. Gadjah Mada International Journal of Business, 27(2), 149–173. https://doi.org/10.22146/gamaijb.v27i2.21214
Eshet, & Alkalai, Y. (2004). Digital Literacy: A Conceptual Framwork For Survival. Journal of Educational Multimedia And Hypermedi, 13, 93–106.