Feibry Feronika Wiwenly Senduk, Ery Tri Djatmika, Hari Wahyono, Madziatul Churiyah, Paul Arjanto
Background/purpose. Financial literacy is essential for adolescents navigating complex digital finance. However, gaps persist due to inconsistent formal education, varied parental influence, and uncritical digital exposure. This study explores the financial education experiences, financial management behaviors, and digital financial misconceptions of high school students using a qualitative phenomenological approach. Materials/methods. Data were collected through semi-structured interviews with three students and their parents and analyzed using Interpretative Phenomenological Analysis (IPA). Results. The findings reveal that financial information obtained through social media was found to be more dominant than that from formal school curricula. Students exhibited impulsive spending behaviors, limited understanding of digital financial risks, and varied financial decisions influenced by family norms. Parental involvement emerged as a crucial factor in shaping students’ financial attitudes and behaviors. This study contributes to the field by proposing an integrative literacy framework that connects formal education, parental guidance, and digital financial realities to better prepare youth for informed decision-making in an increasingly digital economy. Conclusion. This study highlights that while formal, informal, and non-formal financial education positively impact students' financial literacy, gaps remain due to limited school education and varying parental guidance. Social media and digital platforms are major financial learning sources for Generation Z, but they also introduce risks of digital financial misconceptions. Students face challenges in financial management, such as poor record-keeping, inadequate saving, and impulse spending. Misunderstandings about digital transactions, along with rising online fraud, further complicate financial decisions. Parental involvement is crucial for financial independence, and family well-being is tied to financial stability and communication. The study calls for a comprehensive financial literacy program that combines formal education, parental involvement, and digital financial risk awareness to promote responsible financial behaviors among high school students. © The Author(s), 2025.
Department Eonomic Eeducation, Universitas Negeri Manado, Indonesia; Department of Management, Economic and Business Faculty, Universitas Negeri Malang, Indonesia; Department Economic Education, Economic and Business Faculty, Universitas Negeri Malang, Indonesia; Management Department, Faculty of Economics and Business, Bachelor of Administration Education Study Program; Master’s Program of Educational Management, Universitas Pattimura, Indonesia
