Financial Stress Management Gen Z, The Sandwich Generation : A Comprehensive Approach Based on The Maqasid of Shariah

Abstract

The sandwich generation phenomenon is currently becoming increasingly prevalent, where individuals must bear the financial burden of their families while simultaneously meeting their own needs, often leading to prolonged financial stress. This study aims to identify the factors of financial stress experienced by the sandwich generation and analyze them using the maqashid sharia approach. This study uses a descriptive qualitative method with a phenomenological study approach. Data collection techniques in this study were conducted through field interviews as the primary data source, supported by secondary data from related literature. The research sample consisted of 9 Gen Z informants who are classified as sandwich generation and 1 expert on maqashid sharia. The determination of informants was carried out using a purposive sampling method, with a total sample of 9 main informants according to the research criteria. The results show that the financial stress  of the informants is influenced by the increase in living costs that is not commensurate with the salary and the size of family responsibilities, social pressures due to the demands of the role as a family supporter and environmental expectations, the burden of debt that the informants have, and the conditions of work in the Gig economy sector with unstable income, thus increasing the perceived financial stress . However, some informants are able to save, indicating fairly good financial literacy. In addition, the application of the maqashid sharia principle regarding the maintenance of assets (hifdz al-mal) must be able to prioritize in managing expenses, arranging primary (daruriyyat), secondary (hajiyyat), and tertiary needs (tahsiniyyat), as well as family deliberations regarding financial responsibilities, so that the welfare of individuals and families is maintained.