ERIC Number: EJ1241095
Record Type: Journal
Publication Date: 2019
Pages: 11
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1052-3073
EISSN: N/A
Risk Tolerance and the Financial Satisfaction of Credit Card Users
Payne, Patrick; Kalenkoski, Charlene M.; Browning, Christopher
Journal of Financial Counseling and Planning, v30 n1 p110-120 2019
This study tests whether risk tolerance mitigates the effects of credit card mismanagement on users' financial satisfaction. We used data from the Health and Retirement Study and found results showing that credit card mismanagement reduces the financial satisfaction of lower-risk-tolerance users only. The results also suggest that the psychic costs of credit card mismanagement (i.e., stress and anxiety), not the monetary costs (fees and higher interest rates), may be the biggest contributors to the dissatisfaction associated with credit card use.
Descriptors: Risk, Money Management, Credit (Finance), Costs, Correlation, Retirement, Questionnaires, Life Style, Participant Characteristics
Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: https://connect.springerpub.com/content/sgrjfcp
Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A