Attitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumers
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/33207 |
Resumo: | This paper addresses whether overindebted and non-overindebted consumers differ in their attitude toward money (specifically, the degree to which consumers care about money and feel difficulties keeping track of their money) and how this attitude impacts three different financial behavior categories: record keeping (e.g., recording spending in writing), adjusting balance (e.g., trying to find ways to decrease one’s expenses to match income), and monitoring balance (e.g., monitoring one’s spending to see if it is in line with what is expected). Overindebted consumers were recruited via an NGO for consumer defense and were categorized (whenever possible) into two subgroups: consumers who became overindebted due to internal causes (e.g., bad financial management) and consumers who became overindebted due to external causes (e.g., unemployment). Non-overindebted consumers were a convenience sample. Non-overindebted consumers showed more positive attitudes toward money than both groups of overindebted consumers and overindebted due to external causes showed more positive attitudes than overindebted consumers due to internal causes. All groups share similar financial management behaviors except for monitoring balance, which was more frequent among non-overindebted consumers. Furthermore, a regression analysis indicates that money attitudes helped explain financial behavior differences between consumers above and beyond their indebtedness status. Consumers’ attitude predicted financial behaviors, even when controlling for relevant socioeconomic variables (education, income, age, and gender). Further analyses comparing money attitudes and financial behavior for the three subgroups (non-overindebted, overindebted due to internal causes, and overindebted due to external causes) showed no differences. |
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Attitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumersDebtFinancial behaviorFinancial managementMoney attitudesOverindebtednessThis paper addresses whether overindebted and non-overindebted consumers differ in their attitude toward money (specifically, the degree to which consumers care about money and feel difficulties keeping track of their money) and how this attitude impacts three different financial behavior categories: record keeping (e.g., recording spending in writing), adjusting balance (e.g., trying to find ways to decrease one’s expenses to match income), and monitoring balance (e.g., monitoring one’s spending to see if it is in line with what is expected). Overindebted consumers were recruited via an NGO for consumer defense and were categorized (whenever possible) into two subgroups: consumers who became overindebted due to internal causes (e.g., bad financial management) and consumers who became overindebted due to external causes (e.g., unemployment). Non-overindebted consumers were a convenience sample. Non-overindebted consumers showed more positive attitudes toward money than both groups of overindebted consumers and overindebted due to external causes showed more positive attitudes than overindebted consumers due to internal causes. All groups share similar financial management behaviors except for monitoring balance, which was more frequent among non-overindebted consumers. Furthermore, a regression analysis indicates that money attitudes helped explain financial behavior differences between consumers above and beyond their indebtedness status. Consumers’ attitude predicted financial behaviors, even when controlling for relevant socioeconomic variables (education, income, age, and gender). Further analyses comparing money attitudes and financial behavior for the three subgroups (non-overindebted, overindebted due to internal causes, and overindebted due to external causes) showed no differences.Veritati - Repositório Institucional da Universidade Católica PortuguesaAlmeida, Filipa deFerreira, Mário B.Soro, Jerônimo C.Silva, Carla Sofia2021-05-25T09:37:56Z2021-04-162021-04-16T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.14/33207eng1664-107810.3389/fpsyg.2021.56659485105210413PMC808548733935845000645536300001info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-12-19T01:37:43Zoai:repositorio.ucp.pt:10400.14/33207Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:26:58.966116Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Attitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumers |
title |
Attitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumers |
spellingShingle |
Attitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumers Almeida, Filipa de Debt Financial behavior Financial management Money attitudes Overindebtedness |
title_short |
Attitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumers |
title_full |
Attitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumers |
title_fullStr |
Attitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumers |
title_full_unstemmed |
Attitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumers |
title_sort |
Attitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumers |
author |
Almeida, Filipa de |
author_facet |
Almeida, Filipa de Ferreira, Mário B. Soro, Jerônimo C. Silva, Carla Sofia |
author_role |
author |
author2 |
Ferreira, Mário B. Soro, Jerônimo C. Silva, Carla Sofia |
author2_role |
author author author |
dc.contributor.none.fl_str_mv |
Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Almeida, Filipa de Ferreira, Mário B. Soro, Jerônimo C. Silva, Carla Sofia |
dc.subject.por.fl_str_mv |
Debt Financial behavior Financial management Money attitudes Overindebtedness |
topic |
Debt Financial behavior Financial management Money attitudes Overindebtedness |
description |
This paper addresses whether overindebted and non-overindebted consumers differ in their attitude toward money (specifically, the degree to which consumers care about money and feel difficulties keeping track of their money) and how this attitude impacts three different financial behavior categories: record keeping (e.g., recording spending in writing), adjusting balance (e.g., trying to find ways to decrease one’s expenses to match income), and monitoring balance (e.g., monitoring one’s spending to see if it is in line with what is expected). Overindebted consumers were recruited via an NGO for consumer defense and were categorized (whenever possible) into two subgroups: consumers who became overindebted due to internal causes (e.g., bad financial management) and consumers who became overindebted due to external causes (e.g., unemployment). Non-overindebted consumers were a convenience sample. Non-overindebted consumers showed more positive attitudes toward money than both groups of overindebted consumers and overindebted due to external causes showed more positive attitudes than overindebted consumers due to internal causes. All groups share similar financial management behaviors except for monitoring balance, which was more frequent among non-overindebted consumers. Furthermore, a regression analysis indicates that money attitudes helped explain financial behavior differences between consumers above and beyond their indebtedness status. Consumers’ attitude predicted financial behaviors, even when controlling for relevant socioeconomic variables (education, income, age, and gender). Further analyses comparing money attitudes and financial behavior for the three subgroups (non-overindebted, overindebted due to internal causes, and overindebted due to external causes) showed no differences. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-05-25T09:37:56Z 2021-04-16 2021-04-16T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/33207 |
url |
http://hdl.handle.net/10400.14/33207 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
1664-1078 10.3389/fpsyg.2021.566594 85105210413 PMC8085487 33935845 000645536300001 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
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application/pdf |
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reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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