The Influence of Financial Literacy and Lifestyle on Accounting Students' Financial Management Behavior
Abstract
The purpose of this research is to examine how financial literacy and lifestyle shape the financial management behavior of students enrolled in the Accounting Study Program at Cokroaminoto University Yogyakarta (UCY). A quantitative design was adopted, with 156 active students selected through purposive sampling. Questionnaires using a 1–5 Likert scale served as the instrument for data gathering, and the responses were processed by means of Partial Least Squares–Structural Equation Modeling (PLS-SEM) executed in SmartPLS. The findings reveal a positive and statistically significant contribution of financial literacy toward financial management behavior (β = 0.615; T = 9.675; p < 0.001), and a comparable pattern was observed for lifestyle (β = 0.278; T = 3.883; p < 0.001). Together, both predictors accounted for 57.7% of the variance in the dependent variable (R² = 0.577). What these results suggest is that improvements in financial literacy, when combined with greater awareness of consumption patterns, jointly enhance the quality of students’ financial management. From a practical standpoint, this work underscores the need for universities to reinforce financial education within their academic curricula.
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