Pursuing Millennial Workers' Financial Well-Being in Digital Context: Using R Studio

Abstract

The financial well-being pursued by millennial workers in the digital financial era is still shrouded in anxiety and far from feeling secure. This study investigates what makes millennial workers in Greater Jakarta feel financially secure or anxious when using digital financial products. It focuses on how their behavior with these tools impacts their well-being. This study surveyed 425 millennial workers (born 1981-2005) in Greater Jakarta. It used questionnaires and analyzed the data with the software R Studio to see the demographics of respondents and utilize PLS-SEM. The study found that digital financial behavior significantly negatively affects financial anxiety and positively affects financial security. In other words, smart financial behavior with digital products can improve how millennials in Greater Jakarta perceive their financial well-being. It means feeling less stressed and more secure about their current and future finances. Based on these findings, the study suggests that millennials should learn to manage different digital financial products early on. By understanding financial technology, they can make informed financial decisions and feel less worried about their money, ultimately reducing anxiety and building financial security in their financial condition