14 It is noted by this definition that peer acceptance is an important factor for
people, that to gain such acceptance they can buy things only to impress their peers.
H
2
: peer acceptance has a positive significant effect on CBB.
1.7.3. The Effect of Money Retention on CBB
People who are careful with money will be able to restrain themselves for not wasting money to buy things they don‟t need. These are
the people with high retention time. Because of their money retention, they prefer saving to spending, even when they have extra money. Hence, their
consumption behavior can be managed better and they become more capable on controlling compulsive buying behavior.
One of the factors that influence consumer behavior according to Wang 2004 is money attitude. The same conclusion is also made by Li
et al.
2009, where they stated that retention time has significant effect on CBB. Besides having a significant effect on CBB, money attitude is also
found as a factor that shape people‟s money behavior Taneja, 2012.
H
3
: Money retention has a negative significant effect on CBB.
15
1.7.4. The Effect of Pocket Money on Borrowing Habit
People who have small amount of money tend to be less confidence on borrowing money because they don‟t believe on their ability to pay back
the loan. Supporting this statement, Callender Jackson 2005 found that students from low-income family are more debt-averse. In case of using
loan to pay college expenses, Linenmeier, Rosen, Rouse 2006 concluded that the low-income students are less willing to use loan. Another
similiar finding comes from De La Rosa 2012 who found that those low- income students are more likely to commit themselves to minimal
borrowing. The same logical thinking can be used to analyze the effect of
pocket money on borrowing habit. Students with lower pocket money may have less willingness to borrow money or commit themselves to minimal
borrowing because they don‟t believe on their ability to pay the loan. In contrast, the high-pocket money students may show the opposite attitude:
higher borrowing habit.
H
4
: Pocket money has a positive significant effect on borrowing habit.
1.7.5. The Effect of Peer Acceptance on Borrowing Habit
