This research aim to determining the influence of
financial literacy and financial self-efficacy on risky credit behavior in the
use of paylater services among Sebelas Maret University students, with
financial stress as a moderating variable. The sample consists of active undergraduate
and diploma students at Sebelas Maret University who have used or are currently
using paylater services. This study employs the Structural Equation Model (SEM)
to analyze the data that has been collected through a questionnaire. The
analysis reveals several key findings. First, financial literacy has a negative
and significant effect on risky credit behavior and a positive and significant
effect on financial self-efficacy. Second, financial self-efficacy has a negative and
significant effect on risky credit behavior. Third, financial self-efficacy does not mediate the
relationship between financial literacy and risky credit behavior, and financial stress
does not moderate the relationship between financial literacy and risky credit
behavior.
