Influence Use Of E-Wallet Against Behavior Compulsive Student
Keywords:
E-Wallet, Consumptive Behavior, Student, Financial Literacy
Abstract
This study aims to determine the effect of using e-wallets on the consumptive behavior of college students. This research uses a quantitative method approach. Data was collected by distributing questionnaires to students who actively use e-wallets such as ShopeePay, GoPay, OVO, or Dana. The data analysis technique used is simple linear regression analysis. The results of the study indicate that the use of e-wallets has a positive and significant effect on student consumptive behavior. The ease of transaction features, promos, and discounts offered by e-wallets trigger impulse buying, which encourages students to behave more consumptively. This study suggests that students should improve their digital financial literacy to control their spending.
References
Al-Arsy, A. F., & Afian, A. (2022). Analysis of The Most Widely Used E-Wallet and E-Commerce Portals in Indonesia Based on The Pillars of Digital Economy. Nusantara Science and Technology Proceedings, 28–37.
Alafifi, A., Hamdan, A., & Al-Sartawi, A. (2019). The Impact of Financial Literacy on Financial Operating Decision Makers in MSMEs. ECKM 2019 20th European Conference on Knowledge Management 2 VOLS, 1.
Anatasya, P. S., & Innayah, M. N. (2025). Understanding Young Generation ’ s Saving Behavior : The Role of Multidimensional Financial Literacy , Materialism and Financial Inclusion. Paradoks, 8(4), 187–205. https://doi.org/10.57178/paradoks.v8i4.1721
Ankrah Twumasi, M., Asante, D., Fosu, P., Essilfie, G., & Jiang, Y. (2022). Residential renewable energy adoption. Does financial literacy matter? Journal of Cleaner Production, 361, 132210. https://doi.org/https://doi.org/10.1016/j.jclepro.2022.132210
Aribawa, D. (2020). The influence of financial literacy on the performance and sustainability of MSMEs in Central Java. Journal of Business Strategy, 20(1), 1–13.
Aribawa, D., & Widyatini, I. R. (2017). Creative Business Financial Literacy in Yogyakarta. International Journal of Social Science and Business, 1(2), 108–115. https://doi.org/10.23887/IJSSB.V1I2.10528
Astuti, A. D., & Faujiah, A. (2023). Pengaruh penggunaan dompet digital (e-wallet) terhadap perilaku konsumtif perspektif Islam pada generasi milenial Daerah Istimewa Yogyakarta. Alkasb: Journal of Islamic Economics, 2(1), 46–58.
Darwish, F. (2025). Financial Literacy and Investment Decision: An Empirical Study. Frontiers in Behavioral Economics, 2(1), 22–33.
Du, W., & Chen, M. (2023). Too much or less? The effect of financial literacy on resident fraud victimization. Computers in Human Behavior, 148, 107914. https://doi.org/https://doi.org/10.1016/j.chb.2023.107914
Ernawati, L., Issusilaningtyas, E., & Sefiani, H. N. (2022). The impact of fintech on financial literacy and inclusion at Cilacap’s pharmacy with the Miles and Huberman model. Jurnal Ekonomi, 11(3), 1335–1340.
Fadillah, A. S., & Ratnasari, L. (2023). Fanaticism of Consumptive Behavior of Merchandise Purchasing in Student Boyband Fans. Formosa Journal of Science and Technology, 2(1), 27–38. https://doi.org/10.55927/fjst.v2i1.2339
Fitri, A. A., Suyanto, E., & Lestari, S. (2024). Analysis of Consumptive Behavior of Students Who Follow the Outfit of the Day (OOTD) Trend on the Tiktok Application. The Kalimantan Social Studies Journal, 6(1), 1–11.
Harnida, M., Vasudevan, A., Mardah, S., Fajriyati, I., Mayvita, P. A., Hunitie, M. F. A., & Mohammad, S. I. S. (2024). Micro, Small, and Medium-Sized Enterprises (MSMEs) Sustainability: The Strategic Role of Digitalization, Financial Literacy, and Technological Infrastructure. Journal of Ecohumanism, 3(6), 1248–1260. https://doi.org/10.62754/joe.v3i6.4097
Hasan, M., Le, T., & Hoque, A. (2021). How does financial literacy impact on inclusive finance? Financial Innovation, 7(1), 40. https://doi.org/10.1186/s40854-021-00259-9
HC, R., & Gusaptono, R. H. (2020). The impact of financial literacy on investment decisions between saving and credit: Studies on Sharia bank customers in the special region of Yogyakarta. Journal of Economics and Business, 3(4). https://ssrn.com/abstract=3730529
Hidayat E., M. . S. (2022). Financial Literacy and Investment Decisions among University Students. Asian Journal of Business Research, 12(2), 55–68.
Kawamura, T., Mori, T., Motonishi, T., & Ogawa, K. (2021). Is financial literacy dangerous? Financial literacy, behavioral factors, and financial choices of households. Journal of the Japanese and International Economies, 60, 101131.
Khusaini, Mutiah, & Ramdani, H. C. (2021). Vocational and senior high school differences in financial literacy. IOP Conference Series: Earth and Environmental Science, 747(1), 012018. https://doi.org/10.1088/1755-1315/747/1/012018
Korkmaz, A. G., Yin, Z., Yue, P., & Zhou, H. (2021). Does financial literacy alleviate risk attitude and risk behavior inconsistency? International Review of Economics & Finance, 74, 293–310.
Kumar, P., Chandra, A., Shivani, S., & Pillai, V. (2025). Evaluating the impact of digital and financial literacy on MSME performance. Journal of the International Council for Small Business, 6(2), 284–296. https://doi.org/10.1080/26437015.2024.2405548
Kumar, P., Pillai, R., Kumar, N., & Tabash, M. I. (2023). The interplay of skills, digital financial literacy, capability, and autonomy in financial decision making and well-being. Borsa Istanbul Review, 23(1), 169–183.
Lestari, S. P., Putri, L. P., & Taufiq, I. (2024). The Role of Cost of Living in Mediating the Effect of Financial Literacy and Level of Income on Consumptive Behavior to Employees PT Sintora Putra Gasindo. The Current Issues & Research in Social Sciences, Education and Management (CIR-SSEM), 2(2), 305–321.
Lopus, J. S., Amidjono, D. S., & Grimes, P. W. (2019). Improving financial literacy of the poor and vulnerable in Indonesia: An empirical analysis. International Review of Economics Education, 32(February), 100168. https://doi.org/10.1016/j.iree.2019.100168
Lusardi O. S., A. . M. (2020a). Financial Literacy and Financial Decision-Making in Households. Journal of Economic Perspectives, 34(3), 1–27.
Lusardi O. S., A. . M. (2020b). The Importance of Financial Literacy: Evidence and Implications. Journal of Economic Literature, 58(1), 1–27.
Nababan, D., & Sadalia, I. (2013). Analisis Personal Financial Literacy dan Financial Behavior Mahasiswa Strata I Fakultas Ekonomi Universitas Sumatera Utara. Jurnal Media Informasi Manajemen , 1(1), 1–16.
Nada, D. Q., Suryaningsum, S., & Negara, H. K. S. (2021). Digitalization of the Quick Response Indonesian Standard (QRIS) Payment System for MSME Development. Journal of International Conference Proceedings, 4(3). https://doi.org/10.32535/jicp.v4i3.1358
Ningtyas, M. N., & Vania, A. (2022). Materialism, Financial Literacy, and Online Impulsive Buying: A Study on the Post Millennial Generation in a Pandemic Period. Jurnal Manajemen Teori Dan Terapan, 15(1), 1–12. https://doi.org/10.20473/jmtt.v15i1.33774
Novianta, E., Andani, A., . F., & Pane, S. G. (2024). Financial Technology Dan Literasi Keuangan Terhadap Generasi Z. Jurnal Ekonomika Dan Bisnis (JEBS), 4(1), 1–8. https://doi.org/10.47233/jebs.v4i1.1423
Nurazijah, M., Fitriani, S. L. N., & Rustini, T. (2023). Pengaruh Gaya Hidup Hedonis terhadap Perilaku Konsumtif di Kalangan Mahasiswa. Journal on Education, 5(2), 2345–2352. https://doi.org/10.31004/joe.v5i2.890
Purnamasari, V., Merlinda, S., Narmaditya, B. S., & Irwansyah, M. R. (2021). The Millennial’s Investment Decisions: Implications of Financial Literacy, Motivation, and Digitalization. Ekuitas: Jurnal Pendidikan Ekonomi, 9(2), 314. https://doi.org/10.23887/ekuitas.v9i2.39328
Putri, R. E., Sutieman, E., Noy, I. R., Marihi, L. O., & Pattiasina, V. (2022). The Influence of Financial Literacy, Self-Control and Parents’s Socio Economic Status on Students Consumptive Behavior. PUBLIC POLICY (Jurnal Aplikasi Kebijakan Publik & Bisnis), 3(2), 125–140. https://doi.org/10.51135/PublicPolicy.v3.i2.p125-140
Ratnawati, K., Rokhim, R., Wati, C. R., & Dewanta, P. P. (2025). The impact of enhancing digital financial literacy on firm performance: Evidence from digitalisation in Indonesia. International Journal of Technology Intelligence and Planning, 14(1), 78–106. https://doi.org/10.1504/IJTIP.2025.150737
Remund, D. L. (2010). Financial literacy explicated: The case for a clearer definition in an increasingly complex economy. Journal of Consumer Affairs, 44(2), 276–295.
Singaravelu, R., & Subbiah, K. (2024). Unraveling the impact of financial literacy on investment decisions in an emerging market. Journal of Financial Services Marketing, 29(1), 1–15.
Sitinjak, R., & Nurlela, S. (2022). Pemilihan E-Wallet Pada Kerry Parcel Outlet Menggunakan Metode Analytical Hierarchy Process (AHP). INSANtek, 3(2), 49–54. https://doi.org/10.31294/instk.v3i2.1542
Stolper, O. A., & Walter, A. (2017). Financial literacy, financial advice, and financial behavior. Journal of Business Economics, 87(5), 581–643. https://doi.org/10.1007/s11573-017-0853-9
Stolper, O., & Walter, A. (2020). Financial literacy and financial planning in Germany: An empirical study on savings, debt, and retirement planning. Journal of Economic Behavior & Organization, 133, 1–19.
Sucitra, I. D., Tasik, F. C. M. T., & Kandowangko, N. (2020). Gaya Hidup Mahasiswa Di Kelurahan Wenang Selatan Kecamatan Wenang Kota Manado Provinsi Sulawesi Utara (Studi Di Warung Kopi Van Omen). Jurnal Holistik, 13(1), 1–13.
Suyanto, B., Egalita, N., Sugihartati, R., Mas’udah, S., Savira, P. S., Anridho, C., & Syamsiyah, N. (2025). Young urban people’s impulsive online shopping behavior and its financial literacy. Cogent Social Sciences, 11(1). https://doi.org/10.1080/23311886.2024.2443553
Wang L.; Zhang, Q., G. . Z. (2024). Financial Literacy and Investment Returns: The Moderating Role of Education. Journal of Behavioral Finance, 25(2), 145–160.
Wang M.; Zhao, J., L. . C. (2024). Financial Literacy, Investment Experience, and Student Investment Decision-Making. Asian Journal of Finance, 8(1), 45–59.
Yang, S., Ishtiaq, M., & Anwar, M. (2018). Enterprise risk management practices and firm performance, the mediating role of competitive advantage and the moderating role of financial literacy. Journal of Risk and Financial Management, 11(3), 35. https://doi.org/https://doi.org/10.3390/jrfm11030035
Yin Yin, K., Yusof, R., & Abe, Y. (2022). Integrating financial literacy into economics courses through digital tools: the Finlite app. Journal of International Education in Business, 15(2), 331–350. https://doi.org/10.1108/JIEB-06-2021-0068
Alafifi, A., Hamdan, A., & Al-Sartawi, A. (2019). The Impact of Financial Literacy on Financial Operating Decision Makers in MSMEs. ECKM 2019 20th European Conference on Knowledge Management 2 VOLS, 1.
Anatasya, P. S., & Innayah, M. N. (2025). Understanding Young Generation ’ s Saving Behavior : The Role of Multidimensional Financial Literacy , Materialism and Financial Inclusion. Paradoks, 8(4), 187–205. https://doi.org/10.57178/paradoks.v8i4.1721
Ankrah Twumasi, M., Asante, D., Fosu, P., Essilfie, G., & Jiang, Y. (2022). Residential renewable energy adoption. Does financial literacy matter? Journal of Cleaner Production, 361, 132210. https://doi.org/https://doi.org/10.1016/j.jclepro.2022.132210
Aribawa, D. (2020). The influence of financial literacy on the performance and sustainability of MSMEs in Central Java. Journal of Business Strategy, 20(1), 1–13.
Aribawa, D., & Widyatini, I. R. (2017). Creative Business Financial Literacy in Yogyakarta. International Journal of Social Science and Business, 1(2), 108–115. https://doi.org/10.23887/IJSSB.V1I2.10528
Astuti, A. D., & Faujiah, A. (2023). Pengaruh penggunaan dompet digital (e-wallet) terhadap perilaku konsumtif perspektif Islam pada generasi milenial Daerah Istimewa Yogyakarta. Alkasb: Journal of Islamic Economics, 2(1), 46–58.
Darwish, F. (2025). Financial Literacy and Investment Decision: An Empirical Study. Frontiers in Behavioral Economics, 2(1), 22–33.
Du, W., & Chen, M. (2023). Too much or less? The effect of financial literacy on resident fraud victimization. Computers in Human Behavior, 148, 107914. https://doi.org/https://doi.org/10.1016/j.chb.2023.107914
Ernawati, L., Issusilaningtyas, E., & Sefiani, H. N. (2022). The impact of fintech on financial literacy and inclusion at Cilacap’s pharmacy with the Miles and Huberman model. Jurnal Ekonomi, 11(3), 1335–1340.
Fadillah, A. S., & Ratnasari, L. (2023). Fanaticism of Consumptive Behavior of Merchandise Purchasing in Student Boyband Fans. Formosa Journal of Science and Technology, 2(1), 27–38. https://doi.org/10.55927/fjst.v2i1.2339
Fitri, A. A., Suyanto, E., & Lestari, S. (2024). Analysis of Consumptive Behavior of Students Who Follow the Outfit of the Day (OOTD) Trend on the Tiktok Application. The Kalimantan Social Studies Journal, 6(1), 1–11.
Harnida, M., Vasudevan, A., Mardah, S., Fajriyati, I., Mayvita, P. A., Hunitie, M. F. A., & Mohammad, S. I. S. (2024). Micro, Small, and Medium-Sized Enterprises (MSMEs) Sustainability: The Strategic Role of Digitalization, Financial Literacy, and Technological Infrastructure. Journal of Ecohumanism, 3(6), 1248–1260. https://doi.org/10.62754/joe.v3i6.4097
Hasan, M., Le, T., & Hoque, A. (2021). How does financial literacy impact on inclusive finance? Financial Innovation, 7(1), 40. https://doi.org/10.1186/s40854-021-00259-9
HC, R., & Gusaptono, R. H. (2020). The impact of financial literacy on investment decisions between saving and credit: Studies on Sharia bank customers in the special region of Yogyakarta. Journal of Economics and Business, 3(4). https://ssrn.com/abstract=3730529
Hidayat E., M. . S. (2022). Financial Literacy and Investment Decisions among University Students. Asian Journal of Business Research, 12(2), 55–68.
Kawamura, T., Mori, T., Motonishi, T., & Ogawa, K. (2021). Is financial literacy dangerous? Financial literacy, behavioral factors, and financial choices of households. Journal of the Japanese and International Economies, 60, 101131.
Khusaini, Mutiah, & Ramdani, H. C. (2021). Vocational and senior high school differences in financial literacy. IOP Conference Series: Earth and Environmental Science, 747(1), 012018. https://doi.org/10.1088/1755-1315/747/1/012018
Korkmaz, A. G., Yin, Z., Yue, P., & Zhou, H. (2021). Does financial literacy alleviate risk attitude and risk behavior inconsistency? International Review of Economics & Finance, 74, 293–310.
Kumar, P., Chandra, A., Shivani, S., & Pillai, V. (2025). Evaluating the impact of digital and financial literacy on MSME performance. Journal of the International Council for Small Business, 6(2), 284–296. https://doi.org/10.1080/26437015.2024.2405548
Kumar, P., Pillai, R., Kumar, N., & Tabash, M. I. (2023). The interplay of skills, digital financial literacy, capability, and autonomy in financial decision making and well-being. Borsa Istanbul Review, 23(1), 169–183.
Lestari, S. P., Putri, L. P., & Taufiq, I. (2024). The Role of Cost of Living in Mediating the Effect of Financial Literacy and Level of Income on Consumptive Behavior to Employees PT Sintora Putra Gasindo. The Current Issues & Research in Social Sciences, Education and Management (CIR-SSEM), 2(2), 305–321.
Lopus, J. S., Amidjono, D. S., & Grimes, P. W. (2019). Improving financial literacy of the poor and vulnerable in Indonesia: An empirical analysis. International Review of Economics Education, 32(February), 100168. https://doi.org/10.1016/j.iree.2019.100168
Lusardi O. S., A. . M. (2020a). Financial Literacy and Financial Decision-Making in Households. Journal of Economic Perspectives, 34(3), 1–27.
Lusardi O. S., A. . M. (2020b). The Importance of Financial Literacy: Evidence and Implications. Journal of Economic Literature, 58(1), 1–27.
Nababan, D., & Sadalia, I. (2013). Analisis Personal Financial Literacy dan Financial Behavior Mahasiswa Strata I Fakultas Ekonomi Universitas Sumatera Utara. Jurnal Media Informasi Manajemen , 1(1), 1–16.
Nada, D. Q., Suryaningsum, S., & Negara, H. K. S. (2021). Digitalization of the Quick Response Indonesian Standard (QRIS) Payment System for MSME Development. Journal of International Conference Proceedings, 4(3). https://doi.org/10.32535/jicp.v4i3.1358
Ningtyas, M. N., & Vania, A. (2022). Materialism, Financial Literacy, and Online Impulsive Buying: A Study on the Post Millennial Generation in a Pandemic Period. Jurnal Manajemen Teori Dan Terapan, 15(1), 1–12. https://doi.org/10.20473/jmtt.v15i1.33774
Novianta, E., Andani, A., . F., & Pane, S. G. (2024). Financial Technology Dan Literasi Keuangan Terhadap Generasi Z. Jurnal Ekonomika Dan Bisnis (JEBS), 4(1), 1–8. https://doi.org/10.47233/jebs.v4i1.1423
Nurazijah, M., Fitriani, S. L. N., & Rustini, T. (2023). Pengaruh Gaya Hidup Hedonis terhadap Perilaku Konsumtif di Kalangan Mahasiswa. Journal on Education, 5(2), 2345–2352. https://doi.org/10.31004/joe.v5i2.890
Purnamasari, V., Merlinda, S., Narmaditya, B. S., & Irwansyah, M. R. (2021). The Millennial’s Investment Decisions: Implications of Financial Literacy, Motivation, and Digitalization. Ekuitas: Jurnal Pendidikan Ekonomi, 9(2), 314. https://doi.org/10.23887/ekuitas.v9i2.39328
Putri, R. E., Sutieman, E., Noy, I. R., Marihi, L. O., & Pattiasina, V. (2022). The Influence of Financial Literacy, Self-Control and Parents’s Socio Economic Status on Students Consumptive Behavior. PUBLIC POLICY (Jurnal Aplikasi Kebijakan Publik & Bisnis), 3(2), 125–140. https://doi.org/10.51135/PublicPolicy.v3.i2.p125-140
Ratnawati, K., Rokhim, R., Wati, C. R., & Dewanta, P. P. (2025). The impact of enhancing digital financial literacy on firm performance: Evidence from digitalisation in Indonesia. International Journal of Technology Intelligence and Planning, 14(1), 78–106. https://doi.org/10.1504/IJTIP.2025.150737
Remund, D. L. (2010). Financial literacy explicated: The case for a clearer definition in an increasingly complex economy. Journal of Consumer Affairs, 44(2), 276–295.
Singaravelu, R., & Subbiah, K. (2024). Unraveling the impact of financial literacy on investment decisions in an emerging market. Journal of Financial Services Marketing, 29(1), 1–15.
Sitinjak, R., & Nurlela, S. (2022). Pemilihan E-Wallet Pada Kerry Parcel Outlet Menggunakan Metode Analytical Hierarchy Process (AHP). INSANtek, 3(2), 49–54. https://doi.org/10.31294/instk.v3i2.1542
Stolper, O. A., & Walter, A. (2017). Financial literacy, financial advice, and financial behavior. Journal of Business Economics, 87(5), 581–643. https://doi.org/10.1007/s11573-017-0853-9
Stolper, O., & Walter, A. (2020). Financial literacy and financial planning in Germany: An empirical study on savings, debt, and retirement planning. Journal of Economic Behavior & Organization, 133, 1–19.
Sucitra, I. D., Tasik, F. C. M. T., & Kandowangko, N. (2020). Gaya Hidup Mahasiswa Di Kelurahan Wenang Selatan Kecamatan Wenang Kota Manado Provinsi Sulawesi Utara (Studi Di Warung Kopi Van Omen). Jurnal Holistik, 13(1), 1–13.
Suyanto, B., Egalita, N., Sugihartati, R., Mas’udah, S., Savira, P. S., Anridho, C., & Syamsiyah, N. (2025). Young urban people’s impulsive online shopping behavior and its financial literacy. Cogent Social Sciences, 11(1). https://doi.org/10.1080/23311886.2024.2443553
Wang L.; Zhang, Q., G. . Z. (2024). Financial Literacy and Investment Returns: The Moderating Role of Education. Journal of Behavioral Finance, 25(2), 145–160.
Wang M.; Zhao, J., L. . C. (2024). Financial Literacy, Investment Experience, and Student Investment Decision-Making. Asian Journal of Finance, 8(1), 45–59.
Yang, S., Ishtiaq, M., & Anwar, M. (2018). Enterprise risk management practices and firm performance, the mediating role of competitive advantage and the moderating role of financial literacy. Journal of Risk and Financial Management, 11(3), 35. https://doi.org/https://doi.org/10.3390/jrfm11030035
Yin Yin, K., Yusof, R., & Abe, Y. (2022). Integrating financial literacy into economics courses through digital tools: the Finlite app. Journal of International Education in Business, 15(2), 331–350. https://doi.org/10.1108/JIEB-06-2021-0068
Published
2026-07-28
How to Cite
Napitupulu, R. A., Manik, E. B., Fineti Hulu, Esteriang Hati Hura, & Siallagan, H. E. (2026). Influence Use Of E-Wallet Against Behavior Compulsive Student. International Journal of Business and Quality Research, 4(03), 703-717. https://doi.org/10.63922/ijbqr.v4i03.5644
.png)
Contact Person +628563636289
Email : editor.ijbqr@gmail.com
