. The influence of lifestyle and financial literacy on online paylater system and its impact on spending behavior

This research aims to examine the influence of Lifestyle and Financial Literacy on the Paylater Online System and its impact on Spending Behavior. The analytical method used to test the hypothesis is path analysis. This research uses a sample of 200 respondents who are people who use the Online Paylater System in the Jakarta, Bogor, Depok, Tangerang and Bekasi (Jabodetabek) areas. In this research, sampling used convenience sampling. The research results show that the direct influence of Lifestyle and Financial Literacy on Spending Behavior shows significant results. However, the indirect effect for each independent variable is different. Lifestyle shows that there is an indirect influence through the Paylater Online System, while for Financial Literacy there is no indirect influence through the Paylater Online System. In theoretical contributions to the preliminary study, among others, Sari (2021) found that the ease of using Paylater technology by e-commerce users in Indonesia is very good and Paylater users tend to do impulse buying when shopping. It is hoped that this research can help the Online Paylater System in making decisions about spending its finances. Apart from that, Marketplaces that provide payments using the Online Paylater System are also expected to be able to maintain and increase the trust of their users.Future researchers should variableize other factors that influence the Online Paylater System and Spending Behavior, such as financial capability, risk and security, so that they can get more solid conclusions for the public regarding the Online Paylater System and changes in behavior or spending habits (Spending Behavior)..


INTRODUCTION
As e-commerce spreads, people are encouraged to be able to fulfill all their wants and needs, which have their own priorities for fulfilling them.Meanwhile, the ability to fulfill these wants and needs is very limited because not everyone can afford to pay in cash.Therefore, currently there are several e-commerce companies in Indonesia that provide Paylater services for installment applications.One of them is the Shopee application.(Farin, 2023) CONTACT Islamiah Kamil.Email: islamiah.kamil@undira.ac.id, The development of fintech in Indonesia continues to advance, one of which is a new breakthrough that has emerged and is widely discussed, namely Pay Latter.Pay latter is a way of paying credit in installments without using a credit card.Pay latter in another sense is buy now pay later.This means that buyers can buy goods now without paying first.The pay latter concept is the same as a credit card, the company will collect the payment first, then there will be a due date determined by the company to pay off the payment.Based on Fintech Report data released by DSResearch, paylater users (56.7%) are the favorite service, occupying the 3rd position after e-wallet (82.7%) and investment applications (62.4%).It seems that pay latter is increasingly popular with the public, because by using the pay latter feature people can carry out online transactions without having to spend money first.(Intan, 2021) Spendingis something that is considered enjoyable in spending or spending money and behavior is behavior or habits.So it can be concluded that spending behavior is the behavior or habit of spending or spending money.This behavior or habit will have the potential to increase the level of intensity of use of the Online Paylater system and we cannot avoid increasing high consumption patterns in society and having a negative impact on financial management.
Lifestyle is one of the modern world.Anyone who lives in a developed society will use ideas about lifestyle to reflect their own behavior.Based on the ideas of sociologist Thorstain Veblen regarding leisure class, which is free time, it describes individual behavior when using free time.Free time is interpreted as a negative thing, namely as a class of spendthrifts who use a lot of money to fulfill their desire to fill their free time.In relation to lifestyle, time and money are part of them.This aims to improve social status, whether consciously or not.The lifestyle factors described by Bourdieu include internal factors in the form of attitudes, experiences, personality, self-concept, motives and perceptions.Meanwhile, external factors include references, family, social class and culture (Intan, 2021) In times like this, financial literacy in individuals is of particular interest to someone because it can influence someone's decision-making process more efficiently, thoroughly and rationally (Lusardi & Mitchell, 2011).Understanding the importance of good financial literacy, not only for adults who are already working but also for students as the successors of young people before entering the world of work.Because if millennial students do not understand financial literacy well, it will have an impact on a person's welfare and impact decision making in the future, in the family environment and in the world of work.(Kusumawardhani & Cahyani, 2020) The phenomenon of the mushrooming of the marketplace has made shops and big brands participate in the online market.Not only that, the application provider also creates strategies to make users feel comfortable shopping.These strategies vary, for example by creating user ranks consisting of silver, gold and premium members.To reach that rank, of course you have to complete missions like in the game.The difference is, in this mission the user must complete a shopping challenge.For example, you have to shop several times a month.Whether you realize it or not, this can make someone crazy about shopping.This PayLater trend then made many people tempted and complacent.This is because the lifestyle of Indonesian people tends to be consumptive, so they can easily be tempted to own this item.Not to mention, if e-commerce provides limits that will increase if customers actively use the e-commerce platform as a reward for customer loyalty.Not infrequently, many people are caught up in this trend, so they have to accept the consequences of being ready to be terrorized by debt collectors who collect debts for their consumption patterns.Apart from that, even the Debt Collector does not hesitate to call several emergency numbers that the customer has provided  2020) also shows that 51.9% of respondents from 347 people said that the PayLater that was most used this year was OVO Pay-Later.Furthermore, the second position is occupied by Gopaylater and the third position is Shopee PayLater.Shopee is an e-commerce that has PayLater facilities as an alternative method of paying for shopping in installments or paying in full at the loan maturity date by collaborating with the peer to peer lending company PT Lentera Dana Nusantara (LDN).Shopee is the e-commerce that has the highest shopping frequency, namely 29%.Meanwhile, Tokopedia is in second place, followed by Lazada.However, Shopee is also in second place below Tokopedia in terms of number of visitors even though Shopee's shopping frequency is higher than Tokopedia (shopee.id,2019 in Fanny 2020).
Based on the phenomenon and previous research, the author explains the problem formulation as follows: (1) Does Lifestyle influence the Online Paylater System?(2) Does Financial Literacy affect the Paylater Online System?(3) Does Lifestyle influence Spending Behavior?(4) Does Financial Literacy influence Spending Behavior?(5) What Does the Paylater Online System Have to Do with Spending Behavior?
The aim of this research is to empirically prove: (1) The Influence of Lifestyle on the Online Paylater System (2) The Influence of Financial Literacy on the Online Paylater System (3) The Influence of Lifestyle on Spending Behavior (4) The Influence of Financial Literacy on Spending Behavior (5) The Influence of the Paylater Online System on Spending Behavior

LITERATURE REVIEW
Fintech is a combination of financial services and technology that changes the business model from conventional to moderate, where initially you had to pay face to face and bring a certain amount of cash, now you can make long-distance transactions by making payments that can be made in minutes or seconds (Hamdani, 2019).Fintech is currently gaining popularity with the PayLater feature, aka pay later.PayLater allows people to buy things, whether goods or services, in installments without using a credit card.With this fintech, of course it makes it easier for people to make any transactions.So credit is also served in fintech.The PayLater feature is increasingly popular, because the PayLater payment feature can be used to pay 'later' for various kinds of transactions ranging from daily needs such as online shopping to paying for travel needs, such as buying plane tickets, booking hotels and filling internet data packages (Hadijah, 2019 ).
In mid-2018 the fintech company introduced a payment technology with an installment concept without a credit card, namely Paylater.Currently, paylater is widely adopted by e-commerce in Indonesia, starting from entertainment companies, ticket and hotel bookings, market places, to companies providing online transportation services (Nabila, 2020 in Sari 2021).Paylater is an alternative payment method that adopts an online installment system without requiring a credit card.Several platforms are currently starting to adopt cardless credit installment technology (Quiserto, 2019in Sari 2021).
In 2020, people can enjoy Paylater on several online shopping platforms, ticket and hotel bookings, and even online transportation.The advantages of Paylater are: 1. Easy registration process 2. Supervised by OJK 3. Flexible and fast 4. Special promos.Meanwhile, the disadvantages of Paylater include: 1.Interest is quite high 2. Fines 3. Data security.A preliminary study conducted by Sari (2021), the results of data processing, can be concluded that the ease of using Paylater technology by e-commerce users in Indonesia is very good and Paylater users tend to do impulse buying when shopping.
Some of the advantages of paylater which are factors in consumers using the pay later payment system every time they shop (Eria & Hadrika, 2021in Purnama, et al. 2022) include: Easy registration process Supervised by the financial services authority (OJK) Flexible and fast Special promos are available for paylater members It is easy for consumers who don't have the money to buy something according to their wishes and needs, so consumers use a pay later payment system.
• Helping with urgent needs, however, will cause problems afterwards.
Meanwhile, there are disadvantages to using paylater, including: The loan interest is quite high Fines for failure to pay on time Personal data security Being a consumptive individual who cannot be controlled because of the conveniences provided by service providers, this will make individuals owe more money to service providers.
According to Mitchell (2008) in Gitaria (2018), spending is something that is consid- ered enjoyable in spending or spending money and behavior is behavior or habits.So it can be concluded that spending behavior is the behavior or habit of spending or spending money.This behavior or habit will have the potential to give rise to a high level of intensity of use of mobile payment services and we cannot avoid increasing high consumption patterns in society and having a negative impact on financial management.The Spending Behavior Indicators according to Cummins et al. ( 2009) details spending behavior into three indicators, namely: The concept of planning refers to a person's plan for spending money or spending money.
• The concept of saving refers to whether you own savings or not.
• The concept of purchasing refers to things that are primary needs.
In this research, tight or loose spending behavior is defined as how high or low a person spends money.Both to fulfill basic needs and related to consumptive purchases using the Online Paylater System.Factors that influence Spending Behavior According to Birari and Patil (2014) in Gitaria (2018), factors that influence spending behavior include: (1) Gender, it is stated that both male and female youth have different spending patterns with few similarities.A significant portion of their spending occurs in terms of shopping, fast food, mobile phone (cell phone) spending, investment and transportation.
(2) Age Group, it is stated that with the increase in the standard of living of adults, young men and women have also been empowered with more money and gained more purchasing power.This is related to two basic characteristics that influence the shopping behavior of the younger generation, namely the preference for online shopping and increased brand awareness.
Lifestyle is broadly defined as a way of life identified by how people spend their time (activities), what they consider important in their environment (interests), and what they think about themselves and the world around them (opinions).A community's lifestyle will be different from other communities, and even from time to time the lifestyle of certain individuals and groups of people will move dynamically.However, lifestyles do not change quickly, so that at certain periods of time lifestyles are relatively permanent.Solomon (2009) in Nirmala et al (2019) Lifestyle defines a consumption pattern which defines a person's choices in how someone spends the time and money they have.
In an economic sense, lifestyle represents the way one chooses to allocate income both in terms of relative allocation to various products and services, and to specific alternatives within these categories).Other somewhat similar distinctions describe consumers in terms or patterns of their consumption, such as distinguishing between people with large total expenditures on food, or advanced technology or on information-intensive goods such as entertainment and education.Solomon (2009) in Nirmala et al (2019) A person's lifestyle can be classified using the Value and Lifestyle System (VALS 2) instrument which divides a person's lifestyle orientation into eight groups, namely innovators, thinkers, achievers, experiences, believers, strivers, makers , and struggles developed by Stanford Research Institute International Innovators: the top group in VALS 2, are successful consumers and have a lot of income.
• Thinkers: is a group that is satisfied, reflective and comfortable According to Lusardi and Mitchell (2007) in Gitaria (2018), financial literacy can be interpreted as financial knowledge, with the aim of achieving prosperity.Financial knowledge aims to help someone manage finances for a better life.Chen & Volpe, (1998) in Nirmala et al (2019) Financial literacy is an understanding and knowledge within a person to assist in the process of determining financial decisions, and managing personal finances that will be used in making long-term financial planning, to avoid personal financial risks and create personal well-being.Financial literacy is knowledge to manage finances so that you can live more prosperously in the future.Financial literacy in this research uses 4 aspects, including general knowledge, savings, insurance and investment which are in accordance with personal financial management.Gitaria (2018) explained that the indicators included in financial literacy include: (1) General knowledge about finances, According to Wagland and Taylor (2009) knowledge about finances includes personal financial knowledge, namely how to manage income and expenses, as well as understanding basic financial concepts.(2) Savings and loans, According to Garman and Forgue (2010) savings is the accumulation of excess funds by deliberately consuming less than income.(3) Insurance, Soeisno Djojosoedarso (1999) concluded that insurance is a tool to reduce the risks inherent in the economy.(4) Investment, According to Garman and Forgue (2010), investment is saving or placing money so that you can make more money A framework for thinking is a temporary explanation of a phenomenon that is the object of our problem.This framework of thinking was prepared based on a literature review and relevant or related research results.This framework of thought is our argument in formulating a hypothesis.In formulating a hypothesis, the argumentation framework uses deductive logic for this method using scientific knowledge as its basic premises.So the framework for thinking in this research is as follows:

RESEARCH METHODS
This research uses a causal research method which aims to test the influence between a variable (Independent/Xn) and another variable (Dependent Variable/Yn).In this research, the intervening variable (Y1) and dependent variable (Y2) used are the Online Paylater System and Spending Behavior, while the dependent variables are Lifestyle (X1), Financial Literacy (X2).This research requires hypothesis testing with statistical tests.
The population used in this research were Online Paylater System Users in the Jakarta, Bogor, Depok, Tangerang and Bekasi (Jabodetabek) areas.The sampling technique in this research is the Convinience Sampling technique, by distributing questionnaires to Online Paylater System Users in the Jakarta, Bogor, Depok, Tangerang and Bekasi (Jabodetabek) areas.A sample is a part of a certain population that is of concern (Suharyadi andPurwanto, 2004:323 in Annisa Heny 2018).The samples in the research were Online Paylater System Users in the Jakarta, Bogor, Depok, Tangerang and Bekasi (Jabodetabek) areas who had characteristics that were in accordance with those needed in the research and could be used as respondents.Determining the number of representative samples according to Hair et al. (1995in Annisa Heny 2018) the required sample size is between 5 -10 times the number of parameters.With the number of research parameters, in this case the number of construct indicators is 30, the ideal number of respondents is between 150-300 respondents.Based on the calculation of Construct Indicator 30, the minimum sample is 200 respondents The data analysis used to test this research hypothesis is by using path analysis with a structural equation model as follows:

RESULTS AND DISCUSSION
Descriptive statistics is the recording of data accompanied by sentences, words and images to provide an overview of the variables being studied but is not used to draw conclusions.Descriptive statistical tests include the average value (mean), minimum value, maximum value and standard deviation value of research data.The descriptive statistical analysis display is used to make it easier to find out the responses of respondents to the variables studied through sample or population data.The following are the results of descriptive analysis using the SPSS version 20 program.Source: Data processed 2023 The purpose of the results of this descriptive statistical test is to see the quality of research data as indicated by the criterion that if the mean value is greater than the standard deviation then the data quality is good.Based on the data obtained, it shows that all variables have good data quality.The Hypothesis Testing Results are as follows: a. Model 1 Path Analysis Equation Y1 = 0.650 X1 + 0.358 X2 + 0.640 ε1 The results of the coefficient of determination for the model 1 path analysis equation are equal to36% of the Paylater Online System variables can be explained by the Lifestyle and Financial Literacy variables.Meanwhile, the amount of variance in the Online Paylater System variables that cannot be explained by Lifestyle and Financial Literacy or in other words influenced by other variables is 64%.The results of the F statistical test for the model 1 path analysis equation are with an F value of 8.565 and a probability value (sig) of 0.002 because the sig value.< 0.05, then the decision is, meaning the path analysis coefficient is significant, so an individual test (t) can be carried out.From the above, it is known that the results of testing the model 1 path analysis equation show the influence of the Lifestyle and Financial Literacy variables individually.The Lifestyle variable has a significance of 0.004 which is smaller than the sig probability value.or (0.004<0.05), meaning that there is a significant influence between Lifestyle and the Online Paylater System.The partial path coefficient (path coefficient) shows a positive relationship of 64.0%.The results of this research are consistent with Nirmala et al (2019) who show that (1) lifestyle has a positive and significant effect on student behavior in a cashless society (2) financial literacy does not significantly influence student behavior in a cashless society where the research dependent variable is Cashless Society Meanwhile, in the author's research, variable Y1 as an intervening variable for the Online Paylater System is a difference from previous research.Based on the description above, the first hypothesis (H1) is accepted The Financial Literacy variable has a sig value.0.200 is greater than the sig probability value.or (0.200>0.05), meaning that there is no significant influence between financial literacy and the Online Paylater System.The partial path coefficient (path coefficient) shows a positive relationship of 35.8%.The results of this research are consistent with Nirmala et al (2019) which shows that (1) lifestyle has a positive and significant effect on student behavior in a cashless society (2) financial literacy does not have a significant effect on student behavior where in the research the dependent variable is Cashless Society whereas in the research author variable Y1 as an intervening variable for the Online Paylater System is a difference from previous research.Based on the description above the second hypothesis (H2) is not accepted b.Model 2 Path Analysis Equation Y2 = 0.480 X1 + 0.572 X2 + 0.288 Y1 + 0.245 ε2 The coefficient of determination for the model 2 path analysis equation is 75.5% of the variables Spending Behavior can be explained by the variables Lifestyle, Financial Literacy and Online Paylater System.Meanwhile, the amount of variance in the Spending Behavior variable that cannot be explained by the Lifestyle, Financial Literacy and Online Paylater System variables or in other words influenced by other variables is 24.5%.The F statistical test result is 25,751 with a probability value (sig) of 0.000, so the decision means that the path analysis coefficient is significant, so an individual test (t) can be carried out.From table 3, it is known that the results of the model 2 path analysis equation test show the influence of the Lifestyle, Financial Literacy and Online Paylater System variables individually.The Lifestyle variable has a sig value.0.001 is smaller than the sig probability value.or (0.001<0.05), meaning that there is a significant influence between Lifestyle and Spending Behavior.The partial path coefficient (path coefficient) shows a positive relationship of 48.0%.The results of this research are supported by Nirmala et al (2019) who show that (1) lifestyle has a positive and significant effect on student behavior in a cashless society (2) financial literacy does not significantly influence student behavior in a cashless society where the research dependent variable is Cashless Society whereas In the author's research, variable Y2 as the dependent variable Spending Behavior is different from previous research.Based on the description above, the third hypothesis (H3) is accepted The Financial Literacy variable has a sig value.0.004 is smaller than the sig probability value.or (0.004<0.05), meaning that there is a significant influence between Financial Literacy and Spending Behavior.The partial path coefficient (path coefficient) shows a positive relationship of 57.2%.The results of this research are supported by Gitaria (2018) who explained that his research aimed to determine the influence of financial literacy on the spending habits of students in the accounting study program at Sanata Dharma University.The results of his research show that financial literacy has a negative effect on the spending habits of students in the accounting study program at Sanata Dharma University.Based on the description above, the fourth hypothesis (H4) is accepted The Paylater Online System variable has a sig value.0.340 is greater than the sig probability value.or (0.340>0.05), meaning that there is no significant influence between the Online Paylater System on Spending Behavior.The partial path coefficient (path coefficient) shows a positive relationship of 28.8%.The results of this research are not in line with research by Michael Agustio (2018) where tThe findings in his research show that changes in spending behavior of respondents in Surabaya are influenced by the intensity of use of mobile payment services.Users of mobile payment services should always control the use of mobile payments to avoid problems of overspending which may result in lost investment opportunities for the future.inthe research the dependent variable isintensity of use of mobile payment servicesMeanwhile, in the author's research, variable Y1 as an intervening variable for the Online Paylater System is a difference from previous research.Based on the description above, the fifth hypothesis (H5) is not accepted

CONCLUSION
Based onAs a result of the discussion in the previous chapter, several conclusions from the results of this research are summarized as follows: 1. Lifestyle has a positive and significant effect on the Paylater Online System.It can be interpreted that in this research lifestyle and its indicators, namely activities, interests and opinions, have a direct influence on improvements to the Paylater Online System.People who often follow the latest trends are one of the factors that support the use of non-cash payment instruments in daily activities.
2. Financial Literacy has no effect on the Paylater Online System.It can be interpreted that with the increasing level of public financial literacy, this has no effect on improving the Online Paylater System.The level of financial literacy is not fully a determinant for people in using non-cash payment instruments in daily activities, this is because the majority of people who responded to this study do not have a large income to use for non-cash transactions.
3. Lifestyle has a positive and significant effect on Spending Behavior.It can be interpreted that in this research lifestyle and its indicators, namely activities, interests and opinions, have a direct influence on increasing Spending Behavior.People who often follow the latest trends are one of the factors that support the use of non-cash payment tools in daily activities, plus the ease of using the Online Paylater System is a factor in increasing spending behavior or habits.
4. Financial Literacy has a positive and significant effect on Spending Behavior.It can be interpreted that with the increasing level of financial literacy in society, this has an effect on increasing shopping behavior or habits (Spending Behavior).The level of financial literacy is a determinant for people in using non-cash payment tools in daily activities, plus the ease of using the Online Paylater System is a factor in increasing spending behavior or habits.Even though in this study the majority of respondents do not have a large income to use for non-cash transactions, the Online Paylater System has become a trend and plays a role in influencing spending behavior or habits.
5. The Online Paylater system does not have a significant effect on Spending Behavior,changes in people's shopping behavior or habits as well as respondents' spending in the Jakarta, Bogor, Depok, Tangerang and Bekasi areas are not influenced byPaylater Online System.People who use mobile payment services must always control their payment usagePaylater Online Systemto avoid the problem of overspending which can result in lost investment opportunities for the future.
The suggestions in this research are: 1. Future researchers should examine different and broader variables such as financial capability, impulsive buying and security of a system in the development of e-commerce.
2. For online Paylater system providers, it is important to provide more detailed information and understanding regarding the advantages, risks and sanctions in using the Online Paylater System.

Figure 1 .
Figure 1.The Most Frequently Used Paylater Service in Indonesia Source: Dailysocial.idDailySocial research (2019) in Fanny (2020) also shows that 51.9% of respondents from 347 people said that the PayLater that was most used this year was OVO Pay-Later.Furthermore, the second position is occupied by Gopaylater and the third position is Shopee PayLater.Shopee is an e-commerce that has PayLater facilities as an alternative method of paying for shopping in installments or paying in full at the loan maturity date by collaborating with the peer to peer lending company PT Lentera Dana Nusantara (LDN).Shopee is the e-commerce that has the highest shopping frequency, namely 29%.Meanwhile, Tokopedia is in second place, followed by Lazada.However, Shopee is also in second place below Tokopedia in terms of number of visitors even though Shopee's shopping frequency is higher than Tokopedia (shopee.id,2019 in Fanny 2020).Based on the phenomenon and previous research, the author explains the problem formulation as follows:

• •
Achievers: career-oriented, and prefers predictability to risk or self-inflicted discovery.Experiences: impulsive, young and enjoys offbeat or risky experiences Believers: have strong principles and support proven brands.Strives: almost the same as achievers but have less income.They are very concerned with acceptance from other people.Makers: action-oriented and tends to focus his energy on self-reliance.Struggles: being at the bottom of the economic ladder.theyaremost concerned with meeting current needs and have limited ability to acquire anything beyond the basic goods needed for survivalSolomon (2009)in Nirmala et al (2019) Contemporary psychographic measurements to measure lifestyle in this study use three categories of variables, namely Activities, Interests and Opinions.Lifestyle indicators include: (1) Activities are what consumers do, what products they buy or use, what activities they do to fill their free time.Although these activities can usually be observed, the reasons for these actions can rarely be measured directly.(2) Interest states what the consumer's interests, likes, passions and priorities are in life (3) Opinion revolves around the views and feelings of consumers in responding to global, local, economic and social issues.Opinions are used to describe interpretations, expectations and evaluations, such as beliefs about the intentions of others, anticipations regarding future events and weighing of the rewarding or punishing consequences of alternative courses of action.