Testing the Determinant Model of Financial Behavior among State-Owned Enterprise Employees: The Moderating Role of Income

Effective financial behavior has become increasingly important as employees face rising living expenses and the rapid expansion of digital financial services. This study investigates the effects of financial anxiety, financial technology, financial knowledge, and financial confidence on the financial behavior of employees at PT Kimia Farma Diagnostika, with income examined as a moderating variable. Data were collected through questionnaires from respondents selected using purposive sampling and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings reveal that financial anxiety has a negative effect on financial behavior, whereas financial confidence, financial knowledge, and financial technology contribute positively. In addition, income strengthens the relationship between financial technology and financial behavior as well as between financial knowledge and financial behavior. These results provide additional evidence for behavioral finance research and highlight the importance of financial education and digital financial literacy in improving employees' financial well-being.