Credit Card and Compulsive Buying Behavior Among the Generation Z (Gen Z) in Malaysia

Compulsive buying behavior, especially among young adults, presents significant challenges with far-reaching consequences. It can profoundly affect multiple aspects of their lives, including their financial well-being, mental health, and overall quality of life. Through a quantitative approach, we collected and analyzed data from a sample of 276 respondents belonging to the Gen Z cohort. The findings reveal the key determinants and contributing factors to compulsive buying behavior using credit card, shedding light on the influence of financial literacy, technology advancement and peer and social media influence. These insights can be valuable for policymakers, financial institutions, and educators in developing strategies to promote responsible financial behavior among Gen Z and mitigate the negative consequences associated with compulsive buying.