The Influence of Financial Literacy, Mindset Fire (Financial Independence, Retire Early), Economi Uncertainty Global on the Financial Stability of Gen - Z in East Java
Pengaruh Financial Literacy, Mindset Fire (Financial Independence, Retire Early), Economi Uncertainty Global Terhadap Financial Stability Gen – Z Di Jawa Timur
DOI:
https://doi.org/10.21070/ups.10774Keywords:
Gen-Z, Financial Literacy, Minsdet Fire, Financial StabilityAbstract
Gen-Z in big cities such as Surabaya and Malang have excessive access to the investment platform and FIRE movement information, but are often trapped in overconfidence bias and FOMO (Fear of Missing Out) which encourages them to take high investment risks without adequate analysis. In contrast, Gen-Z in district areas have limited access to formal financial education and tend to rely on information from social media which is not always accurate. The strong culture of "prestige" and "lifestyle inflation" in East Java, especially among urban areas, creates social pressure to maintain a luxurious appearance and lifestyle that is incompatible with financial capabilities. Not only that, this research also evaluates how adopting a FIRE mindset influences Gen – Z's financial behavior and investment strategies in building a strong financial foundation.
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