FACTORS AFFECTING PERSONAL FINANCIAL MANAGEMENT OF GEN Z: THE ROLE OF IMPULSIVE BUYING BEHAVIOR AND FOMO

Abstract

This study analyzes the factors influencing personal financial management among Generation Z, with a particular focus on the roles of impulsive buying behavior and the Fear of Missing Out (FOMO) in shaping their financial habits and decisions. A survey of 236 Gen Z respondents in Hanoi was conducted to test the proposed research model, which incorporates four independent variables: artificial intelligence (AI), financial attitude, subjective financial norms, and perceived financial behavioral control, along with FOMO as a moderating variable and impulsive buying behavior as a mediating variable. The findings indicate that AI, financial attitude, personal financial norms, and perceived financial behavioral control exert significant impacts on mitigating impulsive buying behavior and supporting financial management. Notably, the results confirm that impulsive buying behavior has a detrimental effect on personal financial management, and this negative impact is exacerbated under the moderating influence of FOMO. The study proposes implications to help young individual consumers improve their financial management capabilities and have a foundation for sustainable financial development in the future