The relation between financial attitude, consumer purchasing behavior and debt background

Abstract

Purpose of the study: To estimate the degree of relationships between financial attitude, materialism, consumption by status, and consumer perception of the chosen payment method, and impacts on indebtedness.Methodology / approach: We used the survey technique, which collected data from 161 respondents. The quantitative data obtained were analyzed through structural equation modeling, as well as conditional mediation and moderation tests.Main results: Individuals with weak financial attitudes tend to be more materialistic and to consume more by status, and individuals with materialistic and status-driven tendencies are more prone to debt. No relationship was identified between the chosen means of payment and indebtedness. On the other hand, the mediation of the financial attitude in debt mitigation was observed.Originality / relevance: Despite the vast literature on the theories cited in the paper, the relationship between the financial attitude and the buying behavior of the Brazilian consumer had not yet been established, from an attitude perspective as a predictor of behavior.Theoretical / methodological contributions: The work contributes to studies on the inversely proportional advance relationship between financial attitude, status consumption and materialism, in which the latter constructs are discouraged by the individual's trait with that first characteristic. The study also identified the mediation of financial attitude as a debt reduction mechanism.

Locus of control as a mediating variable for the factors influencing consumptive behavior among students

“…This triggers individuals to use the internet to engage in social media if they do not want to be behind the times (Zhang, 2014). In addition, the emergence of various payment devices, such as e-money, will provide more convenience for individuals when they make transactions (Ritchie, 2022;Xavier et al, 2019).…”

Endeudamiento y educación financiera en estudiantes universitarios

“…En el contexto actual, existe un discurso generalizado sobre la falta de dinero para honrar el compromiso, formar ahorros, realizar inversiones, convirtiéndose así en una especie de acumulación de cuentas y conduciendo a la realidad del endeudamiento. Según Piccini y Pinzetta (2014) citado en Xavier et al, (2019), el endeudamiento surge del consumo excesivo, en el que el ser humano adquiere deudas, implica expresamente sus ingresos mensuales y no cumple con sus compromisos financieros. En este escenario, debido a su capacidad (o incapacidad) para conducir su vida financiera es el desafío entre el éxito y el fracaso del presupuesto personal y familiar.…”

“…En este escenario, debido a su capacidad (o incapacidad) para conducir su vida financiera es el desafío entre el éxito y el fracaso del presupuesto personal y familiar. En este sentido, según Xavier et al, (2019) el endeudamiento se da cuando el individuo adquiere una deuda con la promesa de un futuro pago.…”

Generation Z’s perceptions and attitudes toward debt: a case study of young consumers in rural Michigan, USA

“…Other studies have found attitudes toward debt vary depending on gender, age, parents’ views and even education. For example, one study found that people with weak financial attitudes are more materialistic and are more prone to take on debt (Xavier et al , 2019). Another study reported that consumer attitudes about debt are linked to an understanding of debt and their skills navigating debt, and that those with stronger debt skills are less risk averse because they feel a sense of control over debt (Białowolski et al , 2018).…”