The Impact of Fintech on Spending Habits of College Students

The Impact of Fintech on Spending Habits of College Students

Anil Kumar* and Leena Sharad Shimpi**

*Research Scholar, Dept. of Commerce, Babasaheb Bhimrao Ambedkar (Central) University, Lucknow

** Research Supervisor, Dept. of Commerce, Babasaheb Bhimrao Ambedkar (Central) University, Lucknow

Abstract: This research paper explores the growing influence of financial technology (fintech) on the spending behavior and financial decision-making of college students. With the rapid adoption of mobile payment systems, digital wallets, micro-investing platforms, and neobanks, students today are managing their finances in increasingly digital and autonomous ways. The study provides a comprehensive review of fintech’s evolution—from its early use in institutional backends to the disruptive, consumer-facing technologies of today—and assesses its relevance among digitally native student populations. Drawing from primary data collected through a structured questionnaire, the research analyzes fintech usage patterns, convenience factors, and behavioral trends such as budgeting, saving, and impulse spending. The findings highlight both the opportunities and risks associated with fintech use, including increased financial inclusion, convenience, and investment accessibility, as well as potential pitfalls like overspending, lack of transparency, and ethical concerns. Ultimately, the study aims to inform stakeholders about the implications of fintech adoption on students' financial well-being and provide insights for educators, fintech providers, and policymakers to better support this demographic in the digital financial age.

Keywords: Fintech, Influence, Students, Spending, Habits