<![CDATA[This study examines the influence of fear of missing out (FOMO) on overspending behavior among college students, as well as the role of saving behavior as a moderating variable. Data were collected from 443 active college students at various universities in Indonesia and analyzed using PLS-SEM and multigroup analysis. The results show that FOMO has a positive and significant effect on overspending behavior. However, saving behavior does not significantly moderate this relationship. The multigroup analysis results reveal that the effect of FOMO on overspending behavior is stronger among non-accounting students compared to accounting students. In addition, the moderating role of saving behavior is only evident among students studying in Java, but not in other regions. Theoretically, this study highlights the importance of social pressure, reflected in FOMO, as a key driver of overspending behavior, while also demonstrating that the effectiveness of financial self-control varies across educational and regional contexts. Practically, efforts to reduce overspending behavior should consider students’ psychological characteristics and contextual differences, rather than relying solely on saving behavior as a control mechanism.]]>
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