Abstract

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.

Keywords: Financial literacy, digital financial misconceptions, high school students, parental guidance, qualitative phenomenological approach

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