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Attitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumers

2021-04-16Journal article Open access
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dc.contributor.authorAlmeida, Filipa de
dc.contributor.authorFerreira, Mário B.
dc.contributor.authorSoro, Jerônimo C.
dc.contributor.authorSilva, Carla Sofia
dc.date.accessioned2021-05-25T09:37:56Z
dc.date.available2021-05-25T09:37:56Z
dc.date.issued2021-04-16
dc.description.abstractThis 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.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.doi10.3389/fpsyg.2021.566594pt_PT
dc.identifier.eid85105210413
dc.identifier.issn1664-1078
dc.identifier.pmcPMC8085487
dc.identifier.pmid33935845
dc.identifier.urihttp://hdl.handle.net/10400.14/33207
dc.identifier.wos000645536300001
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectDebtpt_PT
dc.subjectFinancial behaviorpt_PT
dc.subjectFinancial managementpt_PT
dc.subjectMoney attitudespt_PT
dc.subjectOverindebtednesspt_PT
dc.titleAttitudes toward money and control strategies of financial behavior: a comparison between overindebted and non-overindebted consumerspt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.titleFrontiers in Psychologypt_PT
oaire.citation.volume12pt_PT
person.familyNameFerreira
person.familyNameSilva
person.givenNameMário
person.givenNameCarla
person.identifier449323
person.identifier988800
person.identifier.ciencia-id4516-EB6F-6B91
person.identifier.ciencia-id6213-7D4E-963B
person.identifier.orcid0000-0001-8962-7157
person.identifier.orcid0000-0003-2506-1435
person.identifier.scopus-author-id14625840600
person.identifier.scopus-author-id56732337100
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT
relation.isAuthorOfPublicationc4199c50-77c0-49e5-adac-0af183ba39e4
relation.isAuthorOfPublication46f2e4c6-c360-4114-90ff-f5689c802e76
relation.isAuthorOfPublication.latestForDiscoveryc4199c50-77c0-49e5-adac-0af183ba39e4

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