Financial Anxiety, Doom Spending, and Financial Well-Being Among Paylater Users: The Moderating Role of Financial Literacy

Husnayetti Husnayetti; Lutfi Hidayati; Tri Budi Astuti; Junarti Junarti

doi:10.55927/ministal.v5i3.24

Authors

Husnayetti Husnayetti Institut Teknologi dan Bisnis Ahmad Dahlan Jakarta
Lutfi Hidayati Institut Teknologi dan Bisnis Ahmad Dahlan Jakarta
Tri Budi Astuti Institut Teknologi dan Bisnis Ahmad Dahlan Jakarta
Junarti Junarti Institut Teknologi dan Bisnis Ahmad Dahlan Jakarta

DOI:

https://doi.org/10.55927/ministal.v5i3.24

Keywords:

Financial Anxiety, Doom Spending, Financial Literacy, Financial Well-Being, PayLater

Abstract

This study examines the relationships among financial anxiety, doom spending, financial literacy, and financial well-being among PayLater users in Indonesia. A quantitative cross-sectional design was employed, utilizing purposive sampling, to collect data from 50 active PayLater users. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. The results indicate that financial anxiety negatively affects financial well-being and positively influences doom spending. Financial literacy has a positive and significant effect on financial well-being. However, doom spending does not mediate the relationship between financial anxiety and financial well-being, while financial literacy does not moderate this relationship. Interestingly, doom spending positively affects financial well-being, suggesting that spending may provide short-term psychological benefits despite potential long-term financial risks. These findings highlight the complex interplay between emotional responses, financial behavior, and financial well-being among PayLater users.

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