There has been an increase in recognition of the negative aspects of smart phone overuse in the young students. These negative aspects include significant effects on sleep, self-regulation and stress. This emerging issue motivated me to analyse the relationship between the aforementioned factors and smart phone usage. The investigation includes data collected from students in the age group of 19 through 22 using an online questionnaire. The participants are divided into high smart phone users and low smart phone users based on the self reported rating scale. Tests were also used to identify their sleep patterns which include sleep latency, subjective sleep quality, duration, habitual sleep efficiency, sleep disturbances, daytime dysfunctions and use of sleep medications. In addition to that, self report scales were used to identify self-regulation capacity and stress among the participants. Characterization of the overall relationship between usage pattern related effects is illustrated in this research. This study showed significant positive co-relation between perceived stress and smart phone usage. Smartphone usage is also negatively correlated with sleep quality and self regulation capacity among students. There is also a difference between the self regulation capacity, perceived stress and quality of sleep of high and low smart phone users.