The Mediating Effect of Compulsive Buying on the Financial Management and

Saving Behavior of Senior High School Students During COVID-19 Pandemic

Globally, the COVID-19 pandemic has emerged in a catastrophic loss of human life and

poses an unparalleled threat to public health, food systems, and the world of work,

creating economic and social upheaval (World Health Organization, 2020). In reaction

to the coronavirus epidemic, shops and retailers throughout the Philippines are closing

stores or limiting hours. In addition, many people are unable to go to their places of

employment or perform their duties due to travel restrictions, border closures, and

quarantine procedures, which have a knock-on impact on their earnings. Even before

the emergence of the health crisis, clinicians and academics have identified compulsive

buying behavior (CBB) as a disease deserving of attention (Granero et al., 2016). Many

people are diagnosed with this disorder as they seem to love the satisfying feeling when

buying something. Materialism is likely a forerunner to compulsive purchasing since it

implies that spending provides psychological benefits. Additionally, since there is no

buffer to halt the spending, poor financial management may result in obsessive

purchasing (Pham et al., 2012). Moreover, this particular behavior not only leads to

irresponsible consumption but as well as in production. However, as employed or

unemployed people approach the new standard-setting amidst the widespread virus,

people might have changed their spending habits to adapt to the unfortunate crisis.

With this, the researchers aim to evaluate how compulsive buying mediates students’

financial management and saving behavior during the COVID-19 pandemic. Given the

current situation, it is necessary to have financial literacy and understand that a

person’s standard of living is not only limited to their possessions but also in financial

preparedness in times of crisis (Wider Adviser Insights 2021). With the given variables,
the purpose of this study is to know how impulsive buying greatly affects how students

manage their money in this time of pandemic. In accordance to the Agenda 2030:

Sustainable Development Goals, this research study also pursues economic growth

through capital accumulation and investments by increasing one’s savings rate, demote

compulsive buying, and promote sound financial management. The overall research is

beneficial to the community given its timeliness and relevance to the current struggle of

students in response to the COVID-19 pandemic.

https://www.wiseradvisor.com/blog/financial-planning/how-impulse-spending-can-get-

your-financial-planning-off-track/