<![CDATA[Indonesia's financial literacy index has risen sharply, yet Generation Z—the largest user segment of digital financial services—still shows an uneven capacity to translate this progress into prudent spending, even as digital payment instruments such as QRIS and e-wallets increasingly reduce the psychological friction traditionally associated with spending cash. This study examines the effect of financial literacy and digital payment usage on the consumptive behavior of Generation Z users of the Kopi Kenangan application in Surabaya. Using a quantitative explanatory approach, data from 100 respondents obtained through purposive sampling were analyzed using Partial Least Square Structural Equation Modeling (PLS-SEM). The results show that financial literacy has a significant positive effect on consumptive behavior, contrary to the negative effect initially hypothesized. This pattern suggests that financially literate individuals may overestimate their own capacity for self-control, an overconfidence effect that leaves them vulnerable to low-friction, gamified digital purchase triggers such as flash sales and tiered loyalty rewards. Digital payment usage, by contrast, shows a positive but statistically non-significant effect, indicating that payment convenience alone does not directly drive consumptive spending. Together, the two predictors explain only a small proportion of the variance in consumptive behavior, pointing to lifestyle, social-media influence, and self-control as more dominant factors warranting further study. These findings imply that digital platforms should consider responsible design features, such as spending-awareness nudges, rather than assuming that financial education alone will curb impulsive consumption among digitally native consumers.]]>
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