Loibl, C, Letkiewicz, J, McNair, S orcid.org/0000-0003-3111-234X et al. (2 more authors) (2021) On the association of debt attitudes with socioeconomic characteristics and financial behaviors. Journal of Consumer Affairs, 55 (3). pp. 939-966. ISSN 0022-0078
Abstract
This study investigates time trends in debt attitudes, the socioeconomic profiles of members in three debt attitudes groups, implications for borrowing, banking, and spending behaviors, and the relationship of debt attitudes with planned borrowing and saving behaviors. Based on a representative online survey data of the German population, gender, income, and educational attainment are found to distinguish a larger group of emergency debtors from two smaller, about equally-sized, groups of debt refusers and debt pragmatists. Debt refusers report less engagement in current borrowing, banking, and spending behaviors compared with emergency debtors and debt pragmatists. Results hold after controlling for psychological responses such as economic outlook, financial planning, and debt stress. Implications for attitude-focused interventions are discussed.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2021 American Council on Consumer Interests. This is the peer reviewed version of the following article: Loibl, C., Letkiewicz, J., McNair, S., Summers, B., & Bruine de Bruin, W. (2021). On the association of debt attitudes with socioeconomic characteristics and financial behaviors. Journal of Consumer Affairs, 1– 28, which has been published in final form at https://doi.org/10.1111/joca.12384. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. |
Keywords: | banking behavior; borrowing behavior; credit use; debt attitude; debtors; saving; spending behavior |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Management Division (LUBS) (Leeds) > Management Division Decision Research (LUBS) |
Depositing User: | Symplectic Publications |
Date Deposited: | 11 May 2021 13:26 |
Last Modified: | 30 May 2023 00:13 |
Status: | Published |
Publisher: | Wiley |
Identification Number: | 10.1111/joca.12384 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:173862 |