Digital Financial Literacy and Financial Satisfaction of Technopreneurs in East Java: The Mediating Role of Financial Behavior

Abstract

Amidst the rapid growth of technopreneurship in East Java, low digital financial literacy remains a major challenge that hinders the achievement of financial satisfaction among business actors. This study aims to analyse the mechanism through which digital financial literacy affects financial satisfaction, with financial behaviour acting as a mediating variable. Using an explanatory quantitative approach, the study involved 75 technopreneurs who are active users of digital financial services, selected through purposive sampling and analysed using Partial Least Squares Structural Equation Modelling (PLS‑SEM). The results show that digital financial literacy has no significant direct effect on financial satisfaction. In contrast, digital financial literacy significantly improves financial behaviour, which in turn becomes the main determinant of higher financial satisfaction. Financial behaviour is confirmed to play a full mediating role in the relationship between digital financial literacy and financial satisfaction, indicating that digital knowledge alone is insufficient to enhance technopreneurs’ financial well‑being.​ These findings support a behavioural perspective in which digital financial literacy contributes to higher financial satisfaction only when it is translated into disciplined and well‑planned financial actions. Consequently, digital SME development strategies should move beyond technological training and focus on strengthening concrete financial habits, such as budgeting, saving, and prudent use of digital financial services.