The Role of Financial Literacy in Moderating the Influence of Lifestyle and Financial Technology on Investment Decisions in the Motion Trade Among Capital Market School Students

A high consumptive lifestyle contributes to the low level of investment among Capital Market School students. This study analyzes the influence of lifestyle, financial technology, and financial literacy on investment decisions. Using a quantitative method, data were collected from 102 Capital Market School participants and analyzed through SEM-PLS. Results reveal that lifestyle negatively and significantly affects investment decisions, while financial technology has a significant positive effect. Financial literacy does not moderate the relationship between lifestyle and investment decisions, but it weakens the influence of financial technology. These findings emphasize the need to manage lifestyle and utilize financial technology wisely to improve students’ investment decisions.