Title: Digital financial literacy and the proliferation of consumerist behaviours

Authors: Fani Pramuditya; Leo Indra Wardhana; Agusta Ika Prihanti Nugraheni; Rizki Pertiwi; Putri Agustina

Addresses: Department of Economics and Business, Vocational College, Gadjah Mada University, Gedung Suhardi Sigit, Jl. Prof. Dr. Mr. Drs. Notonegoro No.1, Bulaksumur, Yogyakarta, 55281, Indonesia ' Department of Economics and Business, Vocational College, Gadjah Mada University, Gedung Suhardi Sigit, Jl. Prof. Dr. Mr. Drs. Notonegoro No.1, Bulaksumur, Yogyakarta, 55281, Indonesia ' Department of Economics and Business, Vocational College, Gadjah Mada University, Gedung Suhardi Sigit, Jl. Prof. Dr. Mr. Drs. Notonegoro No.1, Bulaksumur, Yogyakarta, 55281, Indonesia ' Department of Economics and Business, Vocational College, Gadjah Mada University, Gedung Suhardi Sigit, Jl. Prof. Dr. Mr. Drs. Notonegoro No.1, Bulaksumur, Yogyakarta, 55281, Indonesia ' Department of Economics and Business, Vocational College, Gadjah Mada University, Gedung Suhardi Sigit, Jl. Prof. Dr. Mr. Drs. Notonegoro No.1, Bulaksumur, Yogyakarta, 55281, Indonesia

Abstract: This study examines the relationship between digital financial literacy, self-efficacy, financial attitude, and financial management behaviours among college students. Against the backdrop of significant transformations brought about by the emergence of digital technology, particularly in the realm of financial services, and the growing prevalence of online lending platforms and 'pay later' services, this study examines student financial behaviour in the digital era. Utilising a quantitative approach and purposive sampling through an online questionnaire, this research collected data from 200 student respondents with diverse demographic backgrounds. Hypothesis development is grounded in a literature review that elucidates the importance of digital financial literacy, self-efficacy, financial attitude, and financial management behaviour within the student population. Regression analysis was employed to investigate the variable associations. The outcomes of this research provide a meaningful perspective for educators, policymakers, and financial institutions in enhancing financial literacy and encouraging college students to adopt responsible decision-making practices.

Keywords: digital financial literacy; self-efficacy; financial attitude; financial management behaviour; online lending; pay later services; college students.

DOI: 10.1504/AJFA.2026.153118

American Journal of Finance and Accounting, 2026 Vol.9 No.2, pp.128 - 148

Received: 06 Mar 2025
Accepted: 29 Nov 2025
Published online: 22 Apr 2026 *

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