FINANCIAL RESILIENCE OF YOUNG ADULTS IN AN UNCERTAIN ECONOMIC ENVIRONMENT

Abstract

Purpose: This study aims to explore how Generation Z interprets and builds financial resilience in facing uncertain global and national economic pressures.

Design/methodology/approach: The study employs a phenomenological design with a qualitative approach, involving eleven informants aged 21–26 years residing in Gresik Regency, selected through purposive sampling. Data were collected through in-depth interviews and analyzed using Braun and Clarke’s (2021) six-phase thematic analysis, with Conservation of Resources Theory, Financial Capability Theory, Social Cognitive Theory, and Life Course Theory as interpretive lenses.

Findings: The results identify five main themes: financial buffer capacity, financial management capability, financial self-efficacy, the socio-structural dimension, and adaptive learning from experiences of financial shocks. A paradox was found between low formal financial literacy and high financial self-confidence formed through direct experience, along with the central role of family as the primary safety net amid the low use of digital financial technology.

Practical implications: These findings affirm the need for a concrete and contextual financial mentoring approach for young working individuals in semi-industrial regions, rather than focusing solely on improving formal financial literacy.

Originality/value: This study provides contextual understanding that complements previous quantitative studies on financial resilience, while affirming the importance of a concrete financial mentoring approach for young working individuals in semi-industrial regions.

Paper type: Empirical