Shopping Motives, Financial Literacy, and Credit Card Utilization Among College Students

Much has been written in the popular press on credit card use and spending patterns of American college students. The proliferation of credit cards and their ease of acquisition ensure that students today have more opportunities for making more credit purchases than any other generation of college students. Little is known about the relationship between students' attitudes towards materialism and their use of credit cards. A study was conducted at three college campuses in the northeastern part of the United States where a total of 1,022 students were surveyed. Students' attitudes toward use of credit and their credit card balances were evaluated relative to their scores on Richins and Dawson's Materialism Scale (1992). Our findings suggest no significant difference between those individuals scoring high versus low on the Materialism Scale in terms of the number of credit cards owned and the average balance owed. Individuals high on materialism, however, significantly differed in terms of their uses for credit cards and their general attitude toward their use.

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Financial literacy knowledge assessment among college students in Hyderabad, India

International Journal of Business Performance Management ◽

10.1504/ijbpm.2021.10039436 ◽

2021 ◽

Vol 22 (2/3) ◽

pp. 117

Author(s):

Suseela Kanduri

Keyword(s):

College Students ◽

Financial Literacy ◽

Knowledge Assessment ◽

Literacy Knowledge

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Credit Card Usage Among College Students in China

Journal of Financial Counseling and Planning ◽

10.1891/1052-3073.29.2.304 ◽

2018 ◽

Vol 29 (2) ◽

pp. 304-315 ◽

Cited By ~ 1

Author(s):

Rui Yao ◽

Xiangyi Meng

Keyword(s):

College Students ◽

Credit Card ◽

Credit Cards ◽

Common Method ◽

Financial Knowledge ◽

Chinese College Students ◽

Credit History ◽

Using Data ◽

High Level ◽

Credit Card Usage

Credit cards have become a common method of payment for college students in China. It is important that they form good credit card usage behaviors and build a good credit history early in their financial life. Using data collected from 10 universities in China, results of this study found that being financially dependent on their parents is negatively associated with Chinese college students’ ability to pay their credit card bills. The study also found that students with a high level of financial knowledge were less likely to take cash advances on their credit card. Implications for financial educators and parents as well as policymakers were provided.

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Attitudes toward Credit and Finances among College Students in Brazil and the United States

Journal of Business Theory and Practice ◽

10.22158/jbtp.v1n1p132 ◽

2013 ◽

Vol 1 (1) ◽

pp. 132 ◽

Cited By ~ 14

Author(s):

Jill M. Norvilitis ◽

Wesley Mendes-Da-Silva

Keyword(s):

United States ◽

College Students ◽

Parenting Practices ◽

Credit Card ◽

Student Loans ◽

Credit Cards ◽

Well Being ◽

Developed Countries ◽

The United States ◽

Delay Of Gratification

Although research on credit card debt in developed countries has identified predictors of debt among college students, it is unknown whether these same predictors apply in emerging markets, such as Brazil. To examine this issue, a total of 1257 college students, 814 from Brazil and 443 from the United States, participated in a study exploring the utility of a theory of planned behavior as a predictor of credit card debtand student loans among college students, as well as perceived financial well-being. Compared to the Brazilian participants, the American sample was more financially self-confident, reported better financial well-being, and was more likely to believe that credit cards are negative. Similar predictors of financial well-being emerged in the samples. Specifically, parenting practices related to money and better self-reported delay of gratification are related to more positive financial attitudes and lower levels of debt. Although the debt to income ratio among card holders was similar, Brazilian students held more credit cards than American students. Greater delay of gratification was related to lower levels of student loans in the United States, but there were no significant predictors of student loans in Brazil.

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On the Use of Intelligent Systems for the Modelling of Financial Literacy Parameters

Journal of Information Technology Research ◽

10.4018/jitr.2009062902 ◽

2009 ◽

Vol 2 (4) ◽

pp. 17-35

Author(s):

H. Tawfik ◽

R. Huang ◽

M. Samy ◽

A.K. Nagar

Keyword(s):

Financial Literacy ◽

Educational Level ◽

Credit Card ◽

Intelligent Systems ◽

Input Parameter ◽

Support Vector ◽

Financial Decisions ◽

Relative Contribution ◽

Main Determinants ◽

And Gender

Research has shown that more young people lack good financial literacy and make poor financial decisions. Financial literacy is not only important for individuals, but also for families, financial institutions, and the entire economy. In this paper, artificial neural networks (ANNs) and support vector machines (SVMs) are used as tools to model the financial literacy levels of young university students across Australia and three Western European countries. The goal was to ascertain the students’ level of financial knowledge in relation to the use of credit card and loan facilities based on a number of input parameters such as age, gender and educational level. Sensitivity analysis is applied to determine the relative contribution of each input parameter to the overall financial literacy model. The experiments show that ANNs and SVMs exhibit promising results and capabilities for effectively modeling financial literacy. Our findings indicate that the main determinants of young people’s level of financial literacy include educational level, length of employment, age, and credit card status – in terms of the use of credit card facilities, and gender, living status and credit card status – in terms of the use of loan facilities.

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The Relationship Between ADHD Symptomatology and Financial Well-Being Among College Students

Journal of Attention Disorders ◽

10.1177/1087054719887446 ◽

2019 ◽

pp. 108705471988744

Author(s):

Jill M. Norvilitis ◽

Braden K. Linn ◽

Michelle M. Merwin

Keyword(s):

College Students ◽

Credit Card ◽

Student Loans ◽

Well Being ◽

Student Loan ◽

Financial Strain ◽

Student Loan Debt ◽

Financial Difficulties ◽

Loan Debt ◽

Students With Adhd

Objective: Although there is research that indicates financial difficulties among adults with ADHD, little research has examined financial well-being among college students with ADHD. Method: The present study explored the relationships between symptoms of ADHD and credit card and student loan debt, expected student loan debt, perceived financial well-being, worries about student loans, and financial strain behaviors among 612 college students at two public universities in different states. Results: Results indicated that students with more symptoms of ADHD reported lower perceived financial well-being, but there was no relationship between symptomatology and credit card and student loan debt or expected student loan debt. Conclusion: These results highlight the opportunity for interventions to address current perceived financial well-being and to prevent future financial concerns.

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Factors Effecting Towards Personal Bankruptcy among Residents: Case Study in Klang Valley, Malaysia

International Journal of Human Resource Studies ◽

10.5296/ijhrs.v6i3.10092 ◽

2016 ◽

Vol 6 (3) ◽

pp. 98 ◽

Cited By ~ 3

Author(s):

Mahiswaran Selvanathan ◽

Uma Devi Krisnan ◽

Wong Chui Wen

Keyword(s):

Financial Literacy ◽

Credit Card ◽

Pearson Correlation ◽

Simple Random Sampling ◽

Money Management ◽

Personal Bankruptcy ◽

Notable Increase ◽

Klang Valley ◽

The Government

In Malaysia, there is a notable increase in the number of bankruptcy cases. The personal bankruptcy trend has become one of the major concern to the government. The purpose of this research is to study the factors lead to personal bankruptcy. This research tested the few factors effect on personal bankruptcy based on Klang Valley residents. The research used a quantitative approach and data was gathered from survey questionnaire. The questionnaire measurement quantify the respondent’s response with the help of five point Likert scale. Respondents was designated to respond on the questionnaire by simple random sampling techniques. Data collected was analyzed using Pearson correlation coefficient and multiple regression analysis. The data has been presented in the form of tables. Relationship that were assessed; credit card debts, money management, financial literacy and non-performing loan effects towards personal bankruptcy. The finding shows that there are positive relationship between money management, financial literacy and non-performing loan.

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