Social media from millenial generation perspective: Challenges or Opportunities?

This study aims to examine the relationship between the use of social media on economic literacy and its implications for the lifestyle of the millennial generation in the city of Surakarta, Indonesia. Classified as a field research that uses quantitative descriptive methods, the questionnaire is used as a primary data collection instrument from purposive sampling technique of respondents consisting of students in Surakarta, Indonesia with the age criteria as Y and Z generations who actively use internet-based social media, so that 120 respondents were obtained. The data analysis used is descriptive and hypothesis testing using path analysis with the assistance of SPSS version 17 software. The results presentation that the use of Social Media (X) has a direct effect on Economic Literacy (Z), the higher the use of social media as measured using the parameters of Perceived Usefulness and Perceived Ease of Use from TAM theory, the higher the level of economic literacy owned by students, the Economic Literacy variable (Z) also affects Lifestyle (Y), besides that the test results also explain that the use of Social Media (X) has an indirect effect on Lifestyle (Y) through Economic Literacy (Z). The implication provides evidence that the perception of the benefits and convenience of social media has indirectly changed the lifestyle of students as measured using Activity, Interest and Opinion (AIO) psychographics.