Financially Literate Generation: An Exploratory Study of Urban Youth

Abstract

Digital technology and urbanization have influenced urban adolescents’ financial behavior. They are familiar with e-wallets, mobile banking, and digital investments, but also face consumptive habits driven by social media and peer pressure. This study aims to explore financial literacy levels, influencing factors, and improvement strategies. A qualitative exploratory approach was applied through community service at Daarul Shafa Islamic Boarding School, Depok. Results show that although adolescents use digital financial tools, their understanding of financial literacy remains low, especially regarding debt risks and long-term planning. Key factors include family, peers, social media, and influencers, requiring integrated strategies involving schools, families, and technology.