Understanding the Psychological and Financial Correlates for Consumer Credit Use

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Sosyoekonomi
Volume:32 Issue:59
Understanding the Psychological and Financial Correlates for Consumer Credit Use

Understanding the Psychological and Financial Correlates for Consumer Credit Use

Authors : Tuna Cakar, Türkay Şahin, Seyit Ertuğrul, Alperen Sayar

Pages : 31-48

Doi:10.17233/sosyoekonomi.2024.01.02

View : 54 | Download : 57

Publication Date : 2024-01-31

Article Type : Research Paper

Abstract :This study investigated the behavioural and cognitive predictors of consumer credit usage to develop a behavioural credit risk assessment procedure for a factoring company. Participants completed surveys measuring personality traits, self-esteem, material and monetary values, compulsive and impulsive buying tendencies, self-control, and impulsiveness. Financial surveys also assessed financial literacy and knowledge of financial concepts. The results indicated that extraversion, conscientiousness, emotional stability, and experiential self-control were significant predictors of consumer credit usage. These findings suggest that a finance company can use these personality traits and financial characteristics to develop a more accurate and effective credit risk assessment procedure, such as psychometric tests.
Keywords : Tüketici Kredisi, Finansal Okuryazarlık, Tüketici Davranışı, Faktoring

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