DOI of the published article https://doi.org/10.37339/e-bis.v9i2.2665
The Impact of Social Media Addiction, Self Esteem, and Hedonic Shopping Motivation on Fear Missing Out (FOMO) in The Financial Behavior Of Generation Z at Muhammadiyah University of Sidoarjo
Dampak Kecanduan Media Sosial, Self Esteem, dan Hedonic Shopping Motivation Terhadap Fear Of Missing Out (FOMO) Dalam Perilaku Keuangan Generasi Z di Universitas Muhammadiyah Sidoarjo
DOI:
https://doi.org/10.21070/ups.10264Keywords:
Addicted to social media, Self-Esteem, hedonic shopping motivation, Fear of Missing Out (FOMO), financial behavior, generation ZAbstract
This study analyzed the influence of social media addiction, self-esteem, and hedonic shopping motivation on the Fear of Missing Out (FOMO) and the financial behavior of generation Z at the University of Muhammadiyah Sidoarjo. Using a quantitative approach with 385 respondents, this study found that social media and hedonic spending motivation significantly increase FOMO. Self-esteem is not proven to affect Fomo. In relation, social media has no direct influence. Conversely, high self- esteem correlates positively with better financial behavior, while hedonic shopping motivation has a negative impact. Interestingly, Fomo itself was found to have a positive influence on financial behavior, motivating individuals to manage their financial so as not to miss the opportunity. Indirectly, the motivation of hedonic spending and social media affects financial behavior through FOMO mediation. This research provides insight into the financial dynamics of generation Z in the digital era and supports the objectives of SDGs 03.
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