The impact of buy now, pay later on budgeting practices among financial management students on fashion purchase through spaylater at Pamantasan ng Lungsod ng Maynila

ABSTRACT: This study examined the influence of Buy Now, Pay Later (BNPL) services, specifically Shopee’s SPayLater, on the budgeting practices of Financial Management students at Pamantasan ng Lungsod ng Maynila (PLM), with a particular focus on fashion-related expenditures. Despite their foundational knowledge in financial management, students remain susceptible to impulsive spending behaviors, potentially intensified by the accessibility and perceived convenience of digital credit platforms. Utilizing quantitative, descriptive-correlational research design, data were collected through a structured survey administered to 206 students selected through simple random sampling. Statistical analyses were conducted to evaluate the relationship between SPayLater usage and students budgeting practices, as well as the moderating effect of peer influence. The findings revealed that SPayLater usage has a significant impact on students budgeting behaviors, contributing to changes in spending patterns and overall financial management. While BNPL platforms offer short-term financial flexibility, they may also encourage unplanned expenditures and undermine effective budgeting. Interestingly, peer influence was not found to significantly moderate the relationship between BNPL usage and budgeting practices, indicating that individual financial literacy may play a more influential role. Considering these, findings, the study advocates for the integration of structured budgeting modules into academic curricula, along with the development of responsible digital credit frameworks by financial institutions and regulators. These insights contribute to the enhancement of student financial capability and the promotion of sustainable financial behaviors within the context of an evolving digital economy.

Filipiniana