<![CDATA[Students' consumptive behavior in the 2026 digital era is increasingly complex due to psychological drivers such as Fear of Missing Out (FoMO) and self-reward. Despite limited allowances, students continue to exhibit high consumption tendencies driven by social media pressure and emotional justification. This study integrates FoMO, self-reward, and limited allowance simultaneously in one model to analyze the primary triggers. A quantitative associative approach with purposive sampling was used to collect data from 77 active students via Likert 1–5 questionnaires. Data were analyzed using IBM SPSS software through descriptive instrument evaluation, classic assumption tests, and multiple linear regression. Partially, both FoMO and self-reward significantly influence consumptive behavior. Simultaneously, FoMO, self-reward, and limited allowance significantly impact students' consumptive behavior. Psychological factors are proven to play a much more dominant role in influencing students' purchasing decisions than pure economic conditions. Students' consumptive behavior is heavily driven by the need for social validation and psychological compensation. Enhancing digital financial literacy and structured self-control are highly recommended.]]>
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