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

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Powell, Robert, Do, Anh, Gengatharen, Denise, Yong, Jaime, Gengatharen, Rasiah·2023·Accounting & Finance
DOI 10.1111/acfi.13100
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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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Metadata

Authors
Powell, R., Do, A., Gengatharen, D., Yong, J., & Gengatharen, R.
Affiliations
  • Edith Cowan University (AU)
  • The University of Western Australia (AU)
Corresponding author
Powell, Robert
ORCID
Venue
Accounting & Finance
Publisher
Wiley
Published
2023-04-27
Volume
63
Issue
4
Pages
4431-4451
ISSN
  • 0810-5391 (ISSN-L)
  • 1467-629X
DOI
10.1111/acfi.13100
OpenAlex
W4367318357
Cited by
63
References
2
Citations by year
2026: 18 · 2025: 23 · 2024: 17 · 2023: 5
FWCI
36.59
Type
journal article
Language
en
Open access
Licence
Locations
  • Accounting and Finance (publishedVersion, cc-by-nc-nd)
  • UWA Profiles and Research Repository (UWA) (submittedVersion, cc-by-nc-nd)
  • Australasian Journal of Paramedicine (submittedVersion, cc-by-nc-nd)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Finance › Financial Literacy, Pension, Retirement Analysis
  • Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy and Behavior
  • Social Sciences › Business, Management and Accounting › Management Information Systems › FinTech, Crowdfunding, Digital Finance
Keywords
buy now pay later, financial well-being, consumer credit, payment innovation, young consumers, consumer credit regulation, Australia

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CoChat. (2026). Citation check: The relationship between responsible financial behaviours and financial wellbeing: The case of buy‐now‐pay‐later. https://app.cochat.ai/papers/10.1111/acfi.13100
The paper
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. https://doi.org/10.1111/acfi.13100