RT Journal Article
T1 Self-control and debt decisions relationship: evidence for different credit options
A1 Fernández López, Sara
A1 Castro-González, Sandra
A1 Rey-Ares, Lucía
A1 Rodeiro-Pazos, David
K1 Household indebtedness
K1 Consumer debt
K1 Behavioural finance
K1 Exploratory Factor Analysis
K1 Self-control
K1 Credit
AB In recent years, households have become increasingly indebted, which constitutes a matter of concern. Based on a sample from the Spanish Survey of Financial Competences, this paper examines the relationship between self-control and consumer borrowing behaviour and, in so doing, it proposes a new multi-item scale of individual’s self-control in financial matters and considers several types of consumer debt, thus overcoming the main gaps identified in previous research. Empirical evidence reveals that, overall, self-control problems lead to more indebtedness. However, comprehensive analyses have demonstrated that the influence of self-control differs across an exhaustive range of credit options. In this regard, the lack of self-control increases the probability of taking out unsecured personal loans, loans from family or friends, and credit card use. Evidence suggests that individuals’ first impulse leads them to ask their social circle for a loan. Overall, individuals might be tempted to get indebted when they cannot make ends meet. However, this first impulse usually faces barriers from the supply perspective, so the evidence suggests that the effect of self-control on borrowing decisions might be shaped not only by the demand side of credit but also by the supply one.
PB Springer
SN 1046-1310
YR 2023
FD 2023
LK http://hdl.handle.net/10347/30375
UL http://hdl.handle.net/10347/30375
LA eng
NO Fernández-López, S., Castro-González, S., Rey-Ares, L. et al. Self-control and debt decisions relationship: evidence for different credit options. Curr Psychol (2023). https://doi.org/10.1007/s12144-023-04251-7
NO Open Access funding provided thanks to the CRUE-CSIC agreement with Springer Nature
DS Minerva
RD 24 abr 2026