The relationship between responsible financial behaviours and financial wellbeing: The case of buy-now-pay-later

Robert Powell; Anh Do; Denise Gengatharen; Jaime Yong; Rasiah Gengatharen

doi:10.1111/acfi.13100

The relationship between responsible financial behaviours and financial wellbeing: The case of buy-now-pay-later

Robert Powell, Anh Do, Denise Gengatharen, Jaime Yong, Rasiah Gengatharen

Research output: Contribution to journal › Article › peer-review

2 Citations (Scopus)

Abstract

Buy-now-pay-later (BNPL) in Australia is a rapidly growing payment innovation. Regulators and consumer groups have expressed concerns at the financial risks posed by BNPL. As BNPL is not regulated under consumer credit law, financial regulator and consumer groups have recommended that BNPL users adopt a range of responsible financial behaviours for their financial wellbeing. This study, using a survey of BNPL users and structural equation modelling, shows a link between most of these recommended financially responsible behaviours and financial wellbeing and that the financial behaviours of younger users (aged under 25) place them at greater risk of reduced financial wellbeing.

Original language	English
Number of pages	21
Journal	Accounting and Finance
DOIs	https://doi.org/10.1111/acfi.13100
Publication status	E-pub ahead of print - 27 Apr 2023

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10.1111/acfi.13100Licence: CC BY-NC-ND

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abstract = "Buy-now-pay-later (BNPL) in Australia is a rapidly growing payment innovation. Regulators and consumer groups have expressed concerns at the financial risks posed by BNPL. As BNPL is not regulated under consumer credit law, financial regulator and consumer groups have recommended that BNPL users adopt a range of responsible financial behaviours for their financial wellbeing. This study, using a survey of BNPL users and structural equation modelling, shows a link between most of these recommended financially responsible behaviours and financial wellbeing and that the financial behaviours of younger users (aged under 25) place them at greater risk of reduced financial wellbeing.",

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The relationship between responsible financial behaviours and financial wellbeing: The case of buy-now-pay-later

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