FOMO and YOLO Mentalities: Impulse Buying and Financial Decision-Making Among Young Working Adults in Malaysia

This study examines the influence of Fear of Missing Out (FOMO) and You Only Live Once (YOLO) mindsets on impulse-buying behaviour and subsequent financial decision-making among young working adults in Malaysia, with financial literacy as a moderating variable. Drawing on Dual Process Theory, survey data from 144 respondents were analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings indicate that FOMO and YOLO significantly increase impulse buying behaviour, thereby negatively affecting financial decision-making. However, financial literacy does not considerably moderate these relationships. The study contributes to behavioural finance and consumer psychology literature by demonstrating the dominance of psychological drivers over cognitive financial knowledge in impulsive consumption contexts.