Spend and Repeat! Young Adult’s Experiences with Buy Now Pay Later Services

Blue Levon (), Coglan Louisa, Pham Thu, Lammer Imke, Menner Ryan and Lee Chrisann
Additional contact information
Blue Levon: Carumba Institute, Queensland University of Technology, Brisbane, Queensland 4000
Coglan Louisa: School of Economics and Finance, QUT Business School, Queensland University of Technology, Brisbane, Queensland 4000
Pham Thu: Carumba Institute, Queensland University of Technology, Brisbane, Queensland 4000
Lammer Imke: School of Economics and Finance, QUT Business School, Queensland University of Technology, Brisbane, Queensland 4000
Menner Ryan: University of Sydney Business School, University of Sydney, Darlington, New South Wales, 2050
Lee Chrisann: School of Economics and Finance, QUT Business School, Queensland University of Technology, Brisbane, Queensland 4000

Financial Planning Research Journal, 2023, vol. 9, issue 1, 1-19

Abstract: Our study investigates the usage of Buy Now Pay Later (BNPL) of young Australian adults (aged 18-25, n=308). We found females used BNPL instead of saving. Females exhibited a higher BNPL debt, but were less concerned about that debt compared with males. Self-reported financial literacy training was lower for females compared with males. Negative financial behaviours of both females and males, e.g. binge spending, were inconsistent with their long-term financial goals. We recommend that the relevance and effectiveness of financial literacy training for young adults addresses gender-specific BNPL behaviours and includes education on the psychology of overspending.

Keywords: budgeting; BNPL; females; financial behaviours; financial literacy; young adults (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/fprj-2023-0002 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:finprj:v:9:y:2023:i:1:p:1-19:n:1002

DOI: 10.2478/fprj-2023-0002

Access Statistics for this article

Financial Planning Research Journal is currently edited by Mark Brimble

More articles in Financial Planning Research Journal from Sciendo
Bibliographic data for series maintained by Peter Golla ().