The Role of Student Financial Literacy in Moderating the Impact of FOMO on Impulsive Purchasing: A Case Study of Students at the Faculty of Economics and Business, Tadulako University
Keywords:
FOMO; Impulsive Purchasing; Financial Literacy; Young Generation; EconomyAbstract
This study aims to examine the effect of Fear of Missing Out (FOMO) on impulsive buying behaviour among students of the Faculty of Economics and Business, Tadulako University, and to analyze the role of financial literacy as a moderating variable in this relationship. The independent variable in this study is FOMO, while the dependent variable is impulsive buying. Financial literacy acts as a moderating variable and is measured through several main dimensions, namely financial knowledge, financial attitude, and financial decision-making ability. FOMO is measured based on the indicators of need to belong and need for popularity. Meanwhile, impulsive buying is evaluated through the Cognitive and Affective dimensions. This study uses a quantitative approach with purposive sampling techniques, focusing on students in the 2023–2025 period. Data collection was carried out by distributing a Likert scale-based questionnaire to students of the Faculty of Economics and Business, Tadulako University. Data analysis was performed using Partial Least Squares Structural Equation Modeling (PLS-SEM) through the WarpPLS 7.0 application to test the measurement model and structural model. The results of the study indicate that FOMO has an impact on impulsive buying. In addition, the results also show that financial literacy can moderate the impact of FOMO on impulsive buying. The results of the measurement model evaluation show that all constructs meet the reliability and validity criteria, with Composite Reliability and Cronbach's alpha values above 0.70, respectively. Discriminant validity testing also shows that all constructs have adequate conceptual differences. The model feasibility evaluation shows that the Average Path Coefficient (APC), Average R-square (ARS), and Average Adjusted R-square (AARS) values are significant at the p < 0.001 level, and the AVIF and AFVIF values are below the required limit, indicating that the research model is fit and free from multicollinearity issues. The ARS value of 0.576 indicates that the model is able to explain 57.6% of the variation in the endogenous variable, so that the explanatory power of the model is in the moderate to strong category.
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