The Role of Financial Literacy and Self-Control in Reducing Impulsive Buying Among Generation Z Digital Wallet Users

Alfiati Nurrokhmini; Rahmawati  Riantisari; Noviadry Nur Tamtama

doi:10.70716/emis.v4i3.796

Authors

Alfiati Nurrokhmini Accounting, Universitas Muhammadiyah Klaten, Indonesia Author
Rahmawati Riantisari Management, Universitas Muhammadiyah Klaten, Indonesia Author
Noviadry Nur Tamtama Management, Universitas Muhammadiyah Klaten, Indonesia Author

DOI:

https://doi.org/10.70716/emis.v4i3.796

Keywords:

financial literacy, digital wallet, self-control, impulsive buying, gen z

Abstract

The growth of digital transactions through digital wallets has increased shopping convenience, but has also potentially encouraged impulsive buying behavior among Generation Z. While digital wallet use is relevant to the context of impulsive buying, this study treats it only as a descriptive variable. The study also describes the level of digital wallet use among respondents. The study used a quantitative approach with an explanatory research design. The sample consisted of 384 respondents selected using a purposive sampling technique. Descriptive statistics were used to describe financial literacy, digital wallet use, self-control, and impulsive buying, while SEM-PLS was used to test the relationships among financial literacy, self-control, and impulsive buying. The descriptive analysis showed that financial literacy, digital wallet use, self-control, and impulsive buying are all in the high category. The hypothesis testing results showed that financial literacy had no significant effect on impulsive buying, whereas self-control had a significant effect in reducing impulsive buying. In addition, self-control was shown to moderate the relationship between financial literacy and impulsive buying, so that the effectiveness of financial literacy in reducing impulsive behavior depended on an individual's ability to control themselves. These findings indicate that improving financial knowledge needs to be balanced with strengthening self-control in order to encourage more rational consumption behavior in the era of digital transactions.

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