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Abstract

Purpose: This study examines the effects of financial literacy and self-control on students’ consumptive behavior and investigates the mediating role of hedonic shopping behavior within the framework of Dual-Process Theory.


Research Method: A quantitative causal-associative design was employed involving students of the 2020/2021 cohort at STIE Yapis Dompu. Using the Slovin formula, 97 respondents were selected through proportional stratified random sampling. Data were collected using a five-point Likert-scale questionnaire and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS.


Results and Discussion: Financial literacy and self-control positively and significantly affect both consumptive and hedonic shopping behavior. Financial literacy may foster cognitive overconfidence, whereas excessive self-control may induce ego depletion, encouraging impulsive spending. Hedonic shopping behavior significantly mediates both relationships, indicating that emotional shopping motives can override rational financial considerations.


Implications: Higher education institutions should integrate behavioral wisdom and psychological resilience into financial education. Future studies may incorporate FOMO and peer conformity.


Originality: This study reveals the paradoxical effects of financial literacy and self-control by integrating hedonic shopping behavior within Dual-Process Theory in a digital consumption context.

Keywords

financial literacy self-control hedonic shopping behavior consumptive behavior dual-process theory

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How to Cite
Nurjuliana, N., Mulyati, M., & Rubiyanti, D. (2026). The Mediating Role of Hedonic Shopping Behavior in the Relationship Between Financial Literacy, Self-Control, and Consumption Behavior Among College Students. Advances: Jurnal Ekonomi & Bisnis, 4(4), 1285–1296. https://doi.org/10.60079/ajeb.v4i4.888
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