Lifestyle and Financial Literacy Effects on Online PayLater System and Spending Behavior
DOI:
https://doi.org/10.61132/icmeb.v2i2.272Keywords:
Financial Literacy, Fintech, Lifestyle, Online Paylater System, Spending BehaviorAbstract
The rapid growth of online paylater services has raised concerns about their impact on students’ financial behavior, particularly given the increasing prevalence of consumptive lifestyles and limited financial literacy. This study investigates the influence of Lifestyle (X1) and Financial Literacy (X2) on the use of online paylater systems (Z) and their implications for Spending Behavior (Y) among students of the Faculty of Economics and Business at Dian Nuswantoro University. The study population consisted of 2,100 students from the 2021 and 2022 cohorts, with a sample of 117 respondents determined using the Slovin formula. The sample was selected purposively based on the criteria of being 18–24 years old and active users of paylater services. Primary data were collected through an online questionnaire employing a 5-point Likert scale and analyzed using SmartPLS 3.2 with the Partial Least Squares Structural Equation Modeling (PLS-SEM) technique. The results reveal that Lifestyle has a significant positive effect on both Spending Behavior and Paylater use, while Paylater use itself also positively influences Spending Behavior. In contrast, Financial Literacy shows no significant effect and does not mediate the relationships. The novelty of this study lies in integrating Lifestyle, Financial Literacy, Paylater adoption, and Spending Behavior into a single explanatory model, thereby offering new insights into the financial decision-making patterns of Generation Z students in the context of digital financial services.
Downloads
References
Kholizah, A. N. (2025). Pengaruh gaya hidup, persepsi kemudahan, dan literasi keuangan terhadap perilaku konsumtif pengguna Shopee Paylater pada Gen Z. YUME: Journal of Management, 8(1.1), 127–137. https://journal.stieamkop.ac.id/index.php/yume/article/view/7917
Aliza, N., Wahyuningsih, T. H., & Rafinda, A. (2025). Spending habits of Gen Z: How financial literacy, lifestyle, and self-control shape consumer behavior in Yogyakarta. Business, Accounting and Management Journal (BAMJ), 03(01), 1–10.
Amelia, V. H. I. (2021). Faktor-faktor yang mempengaruhi penggunaan fitur Spaylater pada aplikasi Shopee dan pengaruhnya terhadap perilaku konsumtif. Skripsi Universitas Islam Indonesia Yogyakarta, 17.
Bangun, F. A., & Jamil, P. C. (2025). The influence of financial literacy, lifestyle, income, and locus of control on the consumer behavior of Shopee Paylater users (Case study of students in Pekanbaru). Jurnal Apresiasi Ekonomi, 13(1), 252–264. https://doi.org/10.31846/jae.v13i1.921
Devano, A. M., Tarigan, Y., & Darma Pratiwi, B. A. (2023). Analysis of Paylater usage on impulse buying behaviour of e-commerce users in Batam (Vol. 2023). Atlantis Press SARL. https://doi.org/10.2991/978-2-38476-202-6_106
Dimas, S. S. (2024). The influence of understanding financial literacy, perceived ease of users, and consumptive lifestyles on the use of Shopee Paylater (To student in the special region of Yogyakarta). Ncaf, 6, 339–347.
Fitriyani, A. T., & Bawono, A. (2023). Influence of convenience, trust, and lifestyle on Islamic consumption behavior among millennials: A study on Shopeepay Later users. Journal of Islamic Economics Management and Business (JIEMB), 5(1), 65–84. https://doi.org/10.21580/jiemb.2023.5.1.19042
Ghani Alghifari, & Firman Firman. (2025). Gaya hidup, literasi, dan konsumsi: Studi perilaku konsumtif generasi Z pengguna Shopee PayLater di Kota Padang. Jurnal Akuntansi, Ekonomi Dan Manajemen Bisnis, 5(1), 243–260. https://doi.org/10.55606/jaemb.v5i1.5993
Jamaluddin, M. F., Anshari, R., & Pribadi, M. I. (2025). The influence of lifestyle on the use of Paylater services with financial literacy as moderation variable: A study of Generation Z in Samarinda City. The Fourth International Conference on Government Education Management and Tourism (ICoGEMT-4), 4(2015), 1–13.
Kamil, I., Ariani, M., & Irawan, I. A. (2024). The influence of lifestyle and financial literacy on online Paylater system and its impact on spending behavior. Journal of Economics and Business Letters, 4(2), 51–62. https://doi.org/10.55942/jebl.v4i2.285
Kumar, D. S., Sudin, H., & Othman, J. (2022). The influence of spending behaviour among university students in Malaysia. Asian Journal of Accounting and Finance, 4(3), 30–43. https://doi.org/10.55057/ajafin.2022.4.3.3
Maharani, K. D. P., Wany, E., & Malludin. (2024). The influence of financial literacy, lifestyle, and income on the financial behavior of accounting students at Wijaya Kusuma University Surabaya. International Journal of Accounting Innovation, 1(1), 76–91. https://doi.org/10.61796/ijai.v1i1.6
Mellisa, M., & Rosmida, R. (2023). Pengaruh literasi keuangan, promosi penjualan, dan gaya hidup terhadap perilaku konsumtif pengguna Paylater. Jurnal Akuntansi Dan Bisnis, 9(1), 41–51. https://doi.org/10.47686/jab.v9i1.582
Mutiarawati, I., Dewantara, R., & Rachmat, S. N. (2024). Multiculturalism, 528–546. https://doi.org/10.47006/ijierm.v6i2.344
Mutlu, Ü., & Özer, G. (2022). The moderator effect of financial literacy on the relationship between locus of control and financial behavior. Kybernetes, 51(3), 1114–1126. https://doi.org/10.1108/K-01-2021-0062
Pakpahan, D. R., Cici Handayani, & Mega Sanjaya. (2024). The effect of fintech payment and financial literacy on impulsive buying of college students in Medan City. Journal of Finance Integration and Business Independence, 1(1), 20–29. https://doi.org/10.64276/jofibi.v1i1.9
Pamungkas, W. S., & Putri, S. I. (2024). The influence of financial literacy, lifestyle, and Pay Later use on consumptive behavior. Journal of Advances in Accounting, Economics, and Management, 1(4), 14. https://doi.org/10.47134/aaem.v1i4.437
Rodziah, F., Afandi, T. Y., & Surindra, B. (2024). The influence of lifestyle and financial literacy on the behavior of housewives in Badas Village, Kediri District in using Buy Now Pay Later services. International Journal of Economic Research and Financial Accounting (IJERFA), 3(1), 178–184. https://doi.org/10.55227/ijerfa.v3i1.232
Safitri, M., & Nuswantoro, U. D. (2025). Financial planning and investment intentions among millennials: The moderating effect of risk tolerance. Perencanaan Keuangan Dan Niat Investasi Di Antara Generasi Milenial: Efek Moderatif Dari Toleransi Risiko, June.
Safitri, M., Samasta, A. S., & Oktavia, V. (2025). The moderating role of Sharia financial literacy on the impact of halal supply chain, Islamic social media marketing, and zakat awareness on intention to use Sharia crowdfunding platforms. Jurnal Ekonomi Dan Statistik Indonesia, 5(1), 216–224. https://doi.org/10.11594/jesi.05.01.17
Setiawati, D. E., & Alam, I. A. (2024). The effect of income and financial literacy on the consumptive behavior of Shopee Paylater users in Generation Z in Bandar Lampung City. International Journal Of Education, Social Studies, And Management (IJESSM), 3(3), 84–95. https://doi.org/10.52121/ijessm.v3i3.198
Supieza, R. S., Fuentes, J. N., Infiesto, A. B., Niño, G. W. J. B., & Peñalver, N. J. P. (2025). Big-Five personality traits and spending behavior of college students. Cognizance Journal of Multidisciplinary Studies, 5(2), 288–301. https://doi.org/10.47760/cognizance.2025.v05i02.021
Ulfa, U. U., Tari, R. M., & Nisa, A. H. (2025). The influence of Paylater usage on consumerism behavior: The moderating role of cultural values. Jurnal Akuntansi, Manajemen Dan Ilmu Ekonomi (Jasmien), 5(03), 285–296.
Yuhasril. (2025). The use of the Shopee Pay-later payment system on consumptive behavior.
Zahra, D. R., & Anoraga, P. (2021). The influence of lifestyle, financial literacy, and social demographics on consumptive behavior. Journal of Asian Finance, Economics and Business, 8(2), 1033–1041. https://doi.org/10.13106/jafeb.2021.vol8.no2.1033
Zein, A. Z., & Sartika, F. (2025). Financial literacy, consumptive behavior, and lifestyle on the use of Shopee Paylater with the moderating role of financial behavior. Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 8(2), 5910–5927.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Proceeding of the International Conference on Management, Entrepreneurship, and Business
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
