Pengaruh Penggunaan Buy Now Pay Later dan Hedonic Lifestyle terhadap Financial Distress dengan Self-Control sebagai Variabel Moderasi

Sabrina Xena Navenia; Farhah Salsa Nabella; Eni Candra Nurhayati

doi:10.37481/sjr.v9i4.1780

Authors

Sabrina Xena Navenia Universitas Sains Al-Qur’an Jawa Tengah
Farhah Salsa Nabella Universitas Sains Al-Qur’an Jawa Tengah
Eni Candra Nurhayati Universitas Sains Al-Qur’an Jawa Tengah

DOI:

https://doi.org/10.37481/sjr.v9i4.1780

Keywords:

Buy Now Pay Later, Hedonic Lifestyle, Financial Distress, Self-Control, University Students

Abstract

The increasing use of Buy Now Pay Later (BNPL) services among university students raises concerns about financial distress, particularly when limited financial resources are combined with consumption-oriented lifestyles. However, previous findings on the relationship between hedonic lifestyle and financial distress remain inconsistent, and the moderating role of self-control requires further investigation. This study examines the effects of BNPL usage and hedonic lifestyle on financial distress and tests whether self-control moderates these relationships among students at Universitas Sains Al-Qur'an (UNSIQ). A quantitative approach was employed using online questionnaire data from 100 active UNSIQ students who had used PayLater services. Respondents were selected through purposive sampling, and the data were analyzed using partial least squares structural equation modeling (PLS-SEM) with SmartPLS and 5,000 bootstrap subsamples. The results indicate that BNPL usage (? = 0.364; p < 0.001) and hedonic lifestyle (? = 0.288; p = 0.001) have positive and significant effects on financial distress, whereas self-control has a negative and significant effect (? = -0.248; p = 0.001). However, self-control does not significantly moderate the relationships between BNPL usage and financial distress (p = 0.852) or hedonic lifestyle and financial distress (p = 0.250). The model explains 61.5% of the variance in financial distress. These findings highlight the importance of responsible PayLater use, prudent spending, and stronger self-control in promoting students' financial well-being.

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