The Influence of Financial Literacy, Lifestyle, and Self-control on Student Consumptive Behavior

Aims: The purpose of this study was to examine the relationship between the influence of financial literacy, lifestyle, and self-control on the consumptive behavior of students of the Faculty of Economics and Business, Universitas Muhammadiyah Purwokerto.

Study Design: Quantitative and descriptive research was used in this study.

Place and Duration of Study: Faculty of Economics and Business, Universitas Muhammadiyah Purwokerto, Indonesina country, between April to July.

Methodology: The study use purposive sampling resulted in 129 students (33 male, 96 female; class range 2023-2021; study program Accounting S1, Accounting D3, Management S1, Digital Business S1).

Results: The study showed that financial literacy, students’ lifestyle, and students' self control are positively associated with students' consumption behavior. The analysis results show that financial literacy has a positive influence on consumptive behavior, with a path coefficient value of 0.144 and a p-value of 0.024. Similarly, lifestyle also has a positive influence on consumptive behavior, with a path coefficient value of 0.667 and a p-value of 0.000. Meanwhile, self-control has a negative influence on consumptive behavior, with a path coefficient value of -0.156 and a p-value of 0.010. Therefore, it can be concluded that financial literacy, lifestyle, and self-control affect the consumptive behavior of college students.

Conclusion: This implies that the students must be able to control her/himself to be not consumptive.