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All Journal Jurnal Ragam Pengabdian
Hartati Rahmawati
Universitas Muhammadiyah Cirebon
Environmental Science Social Sciences Other

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Digital Debt Trap among Generation Z: Mental Accounting and Financial Management Behavior in Controlling Debt Spiral Risk Yuli Dewi; Surnita Sandi Wiranata; Sella Nofriska Sudrimo; Hartati Rahmawati; Yunita Putri Lestari
Jurnal Ragam Pengabdian Vol. 3 No. 3 (2026): September-Desember Integrating Multidisciplinary Knowledge for Sustainable Comm
Publisher : Lembaga Teewan Journal Solutions

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62710/t6prqa58

Abstract

Online lending and buy-now-pay-later services expand access to financing but also increase debt-entrapment risk among Generation Z. This study examines the effects of mental accounting and financial management behavior on debt spiral risk and tests the moderating role of financial management behavior. Using an explanatory quantitative design, data from 200 Generation Z users of digital credit in Indonesia were analyzed with partial least squares structural equation modeling. Mental accounting had a positive significant effect on debt spiral risk (coefficient 0.568; probability below 0.001), while financial management behavior had a negative significant effect (coefficient -0.183; probability 0.008). The interaction effect was not significant (coefficient -0.016; probability 0.751). The model explained 36.9 percent of debt spiral risk variance. Financial management behavior therefore functions as a direct protective factor rather than a significant moderator. Mental accounting increases debt spiral risk, while financial management behavior reduces it. Prevention should focus on reducing mental accounting bias and strengthening financial management.
Co-Authors Sella Nofriska Sudrimo Surnita Sandi Wiranata Yuli Dewi Yunita Putri Lestari