World Education Connect Multidisciplinary e-Publication, Vol. VI, Issue VI (June 2026), pp.62-77
Naomi Ruth Irabagon
Master in Business Administration, Wesleyan University-Philippines, Cabanatuan City, 3100
Ali G. Mamaclay
Graduate School Faculty, Wesleyan University-Philippines, Cabanatuan City, 3100
Abstract
This study evaluates the relationship between Digital Financial Management (DFM) and Financial Decision-Making (FDM) among millennial graduate students at Wesleyan University-Philippines. It aims to investigate how digital financial knowledge, digital financial confidence, and e-wallet utilization translate into specific, consequential financial behaviors, ultimately seeking to bridge the gap between technological adoption and long-term financial well-being. The study employed a descriptive-comparative research design. Using purposive sampling, data were gathered from 112 millennial graduate students through a validated and reliably tested online survey. Statistical analysis included weighted means, frequency distributions, ANOVA, and t-tests to identify significant differences across professional clusters and primary variables. Results revealed a significant disparity between technical proficiency and strategic decision-making. While respondents demonstrated high digital financial management skills (mean = 3.51), their financial decision-making remained notably lower (mean = 2.64), particularly in complex domains like investments and emergency preparedness. This gap was statistically significant (p < 0.01), proving that digital fluency does not automatically guarantee sound financial choices.Research limitations/implications: The findings highlight that technical skills must be paired with behavioral interventions to be effective. The study recommends implementing a multi-tiered Financial Literacy Program to bridge the cognitive-behavioral gap. Limitations include the single-institution focus; future research should expand to broader demographics and utilize qualitative methods to explore why technical proficiency fails to influence strategic financial resilience.
Keywords: digital financial management, financial decision-making, millennials, e-wallets, financial capability
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