The influence of value perception and financial management on Indonesian students’ purchasing decisions in Russia

Abstract

This study aims to examine the influence of value perception and financial management on the purchasing decisions of Indonesian students pursuing higher education in Russia. As the number of Indonesian students studying abroad continues to increase, understanding their consumption behavior becomes essential, particularly in the context of cultural adaptation and financial constraints. The study adopts a qualitative approach to explore in depth how students perceive product value and manage their expenditures when making purchasing decisions. Data were collected through in-depth semi-structured interviews with 20 Indonesian students who had lived in Russia for more than one year and had experience purchasing significant goods or services during their study period. The data were analyzed using thematic analysis to identify recurring patterns and themes. The findings reveal that students’ value perception is shaped by three primary factors: practical needs, social identity, and peer influence. Products are not only evaluated based on functional benefits but also on their symbolic and emotional value, reflecting students’ efforts to adapt to a foreign environment. Moreover, the study found that financial management skills significantly affect purchasing behavior. Students who demonstrate strong budgeting and spending control tend to make more rational and planned purchasing decisions, whereas those with weaker financial management are more susceptible to impulsive or socially driven consumption.

Keywords: value perception, financial management, purchasing decisions, Indonesian students, Russia