How is digital money changing the way young people spend, save, and manage financial risks?
This study examines digital money adoption and use among youths in Ebonyi State, Nigeria, and how it influences their spending behaviour.
Using a convergent mixed-methods design, the researchers collected data from 400 questionnaire respondents and 20 in-depth interviews. Quantitative data were analysed using descriptive statistics, multiple regression, and correlation analysis, while qualitative responses were examined through thematic analysis.
The findings reveal a high digital money adoption rate of 72% among youths. Adoption was strongly influenced by education, income, financial literacy, social influence, and trust.
The study also shows that digital money use substantially increased spending, particularly on mobile data, airtime, and peer-to-peer transfers. At the same time, trust issues, perceived risks, hidden fees, fraud, and transaction failures remained important concerns.
The authors recommend improved financial education, stronger infrastructure, and stricter financial regulatory interventions to promote responsible digital money use and strengthen consumer trust.
This research contributes to digital finance, youth financial behaviour, fintech adoption, financial inclusion, consumer protection, and policy planning in sub-national Nigerian contexts.
📖 Read the full article here:
https://doi.org/10.61298/pnspsc.2026.3.344
Published in: Proceedings of the Nigerian Society of Physical Sciences