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Abstract

Purpose: This study examines the associations between financial literacy, financial planning, financial attitude, and personal financial management, and tests the moderating role of a consumptive lifestyle among millennials in Ketapang Regency.


Research Method: A quantitative cross-sectional design was applied to questionnaire data from 100 respondents selected through purposive sampling. Descriptive statistics, item–total correlations, reliability and regression-assumption tests, multiple regression, and moderated regression analysis were performed using IBM SPSS Statistics.


Results and Discussion: Financial planning and financial attitude were positively associated with personal financial management, whereas financial literacy was not significantly associated. The three predictors were jointly significant in the direct model. None of the consumptive-lifestyle interaction terms was significant, and their inclusion did not meaningfully improve the model. These findings suggest that planning practices and favorable financial attitudes may be more closely connected with financial management than knowledge alone.


Implications: Financial-education programs should integrate financial knowledge with budgeting, goal setting, expenditure monitoring, and attitude development. Future studies should employ larger sample sizes, validated measurement models, and comprehensive interaction diagnostics.


Originality: This study provides contextual evidence from nonmetropolitan millennials by simultaneously examining consumptive lifestyle across three financial-management relationships.

Keywords

financial literacy financial planning financial attitude personal financial management consumptive lifestyle

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Ali, M. S., & Ryanto, F. R. (2026). Financial Literacy, Financial Planning, and Financial Attitude on Personal Financial Management with a Consumptive Lifestyle as a Moderating Variable among the Millennial Generation. Advances in Economics & Financial Studies, 4(3), 468–488. https://doi.org/10.60079/aefs.v4i3.1032
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