Financial Risk Management and the Impulse to Spend: A Qualitative Review of Gen Z’s Socially-Driven Leisure Activity Consumption during the Coldplay Concert Phenomenon in Indonesia

Abstract

This study investigates the intersection of impulsive buying behavior, social pressure, and financial risk management among Indonesian Generation Z in the context of leisure consumption, with particular attention to the Coldplay concert phenomenon. Employing a qualitative literature-based approach through content analysis, the research synthesizes existing academic insights to explore how socially driven motives, such as Fear of Missing Out (FOMO) and social legitimacy, influence financial decisionmaking. The findings reveal that Gen Z’s impulsive spending is often triggered by emotional and cultural pressures, which override rational financial judgment. Furthermore, the study highlights the potential of applying Financial Risk Management (FRM) principles to interpret and mitigate such behaviors. This approach reframes impulsive spending as a form of personal financial risk that can be addressed through proactive risk identification and control strategies. The study emphasizes the need for youth-targeted financial education that integrates emotional and social dimensions, moving beyond traditional budgeting models. While limited by the absence of primary data, this research contributes a conceptual foundation for future empirical work on financial vulnerability in socially mediated consumer environments.