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

Authors

Robert Powell, Edith Cowan UniversityFollow
Anh Do, Edith Cowan UniversityFollow
Denise Gengatharen, Edith Cowan UniversityFollow
Jaime Yong, Edith Cowan UniversityFollow
Rasiah Gengatharen

Document Type

Journal Article

Publication Title

Accounting and Finance

Publisher

Wiley

School

School of Business and Law

RAS ID

60117

Comments

Powell, R., Do, A., Gengatharen, D., Yong, J., & Gengatharen, R. (2023). The relationship between responsible financial behaviours and financial wellbeing: The case of buy‐now‐pay‐later. Accounting & Finance, 63(4), 4431-4451. https://doi.org/10.1111/acfi.13100

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.

DOI

10.1111/acfi.13100

Creative Commons License

This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.