Title:
The Effect of Generational Affiliation on Saving Accumulation Motivation: The Role of Financial Literacy as a Mediating Variable (Case Study on Generations X, Y, and Z in Indonesia)

Authors:
Maharani Dewika Putri and Sutrisno, Indonesia

Abstract:

This study aims to analyze the influence of generational affiliation on savings accumulation motivation with financial literacy as a mediating variable. The research sample consisted of individuals representing Generation X, Generation Y (Millennials), and Generation Z, with a quantitative approach through the distribution of online questionnaires. Data analysis was conducted using multiple linear regression with the help of SPSS software version 30 and PROCESS Macro Model 4 by Andrew F. Hayes. The results showed that generational affiliation significantly influenced financial literacy and savings accumulation motivation, and financial literacy also significantly influenced savings accumulation motivation. Furthermore, the mediation analysis showed that financial literacy significantly mediated the relationship between generational affiliation and savings motivation. However, the results of the difference test using One-Way ANOVA did not show a significant difference in savings motivation between generational groups.

DOI: https://doi.org/10.51505/IJEBMR.2025.9816