JurnalPost.com - Digital technology development has brought major changes to society, including how the younger generation meets their needs and manages their finances. The presence of social media and various online shopping platforms has made consumption activities increasingly easy and practical. Various products can now be found just through a mobile phone, ranging from daily necessities to items that follow the latest trends.
However, behind this convenience, a challenge that cannot be ignored has emerged: the increasing tendency toward consumerist behavior among the younger generation. Technological progress that should help people meet their needs efficiently can actually trigger excessive spending if not balanced with good financial management.
Currently, the decision to buy something is not always based on need. Many young people are interested in owning an item after seeing it used by influencers, celebrities, or peers. Popular products are often considered must-haves to avoid being left behind by the times.
Without realizing it, this habit can form a consumption pattern that prioritizes wants over needs. Items that are not actually necessary are eventually bought just to follow trends or fit into a social environment.
The Influence of Social Media on Consumerist Behavior
Social media is a strong factor in shaping the consumption patterns of the younger generation. Various content regarding lifestyle, fashion, culinary, travel, and branded goods often displays a life that looks attractive and fun.
When someone constantly sees this content, a desire to own or experience similar things can arise. This desire grows stronger when the displayed lifestyle is considered a measure of success, popularity, or social status.
As a result, purchasing decisions are no longer entirely based on the benefits of a product, but are also influenced by the desire to gain social recognition.
This phenomenon is related to fear of missing out (FOMO), which is the feeling of anxiety about being left behind by experiences or trends that others are following. In the context of consumption, FOMO can drive someone to make purchases without considering their financial condition first.
In addition to the influence of social media, digital marketing strategies also play a role in encouraging consumerist behavior. Various promotions such as discounts, cashback, free shipping, and flash sales often tempt consumers to make spontaneous purchases.
Many people buy items just because they are offered at a lower price, even though the item is not actually needed.
This situation shows that a low price does not necessarily result in savings. If the item purchased does not have a clear benefit or necessity, the expenditure can still be wasteful.
The Convenience of Paylater and Financial Risks for the Younger Generation
The issue of consumerism is becoming more complex with the presence of various digital payment services, including buy now, pay later or paylater facilities.
This service allows consumers to buy items first and make payments at a later time, either in full or through installments.
On one hand, these facilities provide convenience and flexibility in transactions. However, on the other hand, their use can pose risks if not accompanied by careful financial planning.
The ease of buying items without having to pay the full price immediately can make someone feel they have greater spending power than their actual financial condition allows.
Young people who do not yet have a steady income need to be more careful in using these facilities. Payment obligations that look small can become a burden if done repeatedly without calculating total bills, service fees, interest, and other monthly needs.
If this habit continues, expenses can exceed income and cause difficulties in meeting financial obligations.
Therefore, the use of digital payment services must be accompanied by an understanding of one's ability to pay and the consequences of every transaction made.
The Importance of Controlling Desires and Setting Priorities
In my opinion, the biggest challenge for the younger generation today is not just how to earn an income, but how to use money wisely.
Having your own income does not always guarantee a healthy financial condition if one is not able to control expenses. Someone can earn money every month but still experience financial difficulties because they follow trends too often and do not have clear planning.
Consumerist behavior that is left unchecked has the potential to hinder the achievement of financial independence.
Money that should be used for saving, building a business, improving skills, or preparing for future needs is instead spent on fulfilling momentary desires.
In fact, youth is an important period for building healthy financial habits. These habits can be a provision for facing various financial needs and responsibilities in the future.
Managing finances well does not mean one cannot enjoy the fruits of their labor or buy desired items. What is more important is the ability to set boundaries and understand personal financial conditions.
The desire to keep up with the times can still be pursued as long as it does not sacrifice primary needs, savings, and other obligations.
Financial Literacy as a Provision for Facing the Digital Era
Financial literacy needs to be an important concern for the younger generation so they can face various consumption challenges in the digital era.
The ability to manage finances is not enough just by knowing the amount of income and expenses. It also requires the awareness to set priorities, understand financial risks, and make decisions based on personal needs and capabilities.
One simple step that can be taken is to create a monthly budget. Through a budget, one can determine the allocation of money for basic needs, education, transportation, savings, and other necessities.
In addition, the habit of recording expenses is also important to know where money is used every day. By recording regularly, one can evaluate expenses that are indeed necessary and expenses that can actually be reduced.
Young people also need to get used to distinguishing between needs and wants.
Needs are things that must be met to support life and daily activities, while wants are more related to personal satisfaction that can be adjusted to financial capabilities.
Setting aside some money for savings is also an important step in building financial security. The amount does not have to be large, but it needs to be done consistently according to each person's condition.
Besides that, a critical attitude toward digital promotions needs to be continuously developed. Not all trends must be followed and not all items with attractive prices must be bought.
Before making a transaction, it is important to consider the benefits of the item, financial capability, and its impact on meeting other needs.
With these habits, the younger generation can utilize digital technology more wisely without having to get trapped in consumerist behavior.
The Role of Family and Education in Building Financial Awareness
Efforts to build healthy financial habits are not just the responsibility of the individual. Families and educational institutions also have an important role in instilling awareness regarding financial management.
Families can start introducing the concept of saving, managing pocket money, and distinguishing between needs and wants from an early age.
Meanwhile, educational institutions can provide an understanding of financial literacy through learning activities as well as simple practices in daily life.
Financial education should not only be given in the form of theory, but also through direct application, such as preparing a personal budget, making expense records, and understanding the risks of using digital financial services.
With this approach, the younger generation can understand that the ability to manage money is an important skill that needs to be built gradually.
This understanding can also help them become more critical consumers who are not easily influenced by various forms of promotion or social pressure.
Wise in Following Trends, Smart in Managing Finances
In the end, the development of digital technology should be utilized to support a better life, not to push someone into being trapped in a consumerist lifestyle.
Following trends is not something wrong as long as it remains adjusted to needs and financial capabilities.
Young people need to realize that not everything popular must be owned. The ability to refrain from unnecessary purchases actually shows maturity in making financial decisions.
Financial success is not determined by how many items are owned or how luxurious the lifestyle displayed on social media is.
Conversely, the ability to control desires, set priorities, set aside money for the future, and use technology wisely is an important part of building financial independence.
The ease of transacting should be a means to increase efficiency, not an excuse to spend without planning.
Do not let technological progress make it easier for the younger generation to buy something, but actually make it more difficult to manage their own finances.
About the Author
Kodamah is an Accounting student at Pamulang University, with Student ID Number (NIM) 251011200175.
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