Does self-control constitute a driver of millennials’ financial behaviors and attitudes?

Rey‐Ares, Lucía; López, Sara Fernández; Castro‐González, Sandra; Pazos, David Rodeiro

doi:10.1016/j.socec.2021.101702

Cited by 41 publications

(41 citation statements)

References 46 publications

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“…, 2022) or college students (Limbu and Sato, 2019; Serido et al. , 2013), while the young working adults (also known as millennials) are largely ignored and remained underexplored (Friedline and West, 2016; Rey-Ares et al. , 2021).…”

Section: Literature Reviewmentioning

confidence: 99%

“…However, in the digital age, SNS use and its impact on financial well-being IJBM 41,1 have not been revealed (Kim et al, 2018;Pahlevan Sharif and Yeoh, 2018;She et al, 2021c). Further, most existing finance-relevant literature on financial well-being focused on retirees (Madero-Cabib and Fasang, 2016;Soepding et al, 2022) or college students (Limbu and Sato, 2019;Serido et al, 2013), while the young working adults (also known as millennials) are largely ignored and remained underexplored (Friedline and West, 2016;Rey-Ares et al, 2021). In particular, young working adults who are digitally active (e.g.…”

Section: Literature Review Financial Well-beingmentioning

confidence: 99%

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Excessive use of social networking sites and financial well-being among working millennials: a parallel-serial mediation model

She

Ma²,

Voon³

et al. 2022

IJBM

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PurposeThis study aimed to investigate the mediating role of financial attitude and perceived behavioral control with financial behavior in the association between excessive use of social networking sites (SNSs) and financial well-being among working millennials.Design/methodology/approachA crossed-sectional survey was used to obtain data through a self-administered questionnaire. A total of 485 working millennials (M age = 32.28, years, SD age = 4.75) in Malaysia participated in the study based on a purposive sampling technique. Covariance-based structural equation modeling (CB-SEM) was used to evaluate the measurement model and the proposed serial mediation model.FindingsThe findings of this study revealed that excessive use of SNS is negatively associated with financial well-being. Also, the findings suggested that financial attitude and perceived behavioral with financial behavior serially mediated the negative relationship between excessive use of SNS and financial well-being, respectively.Practical implicationsSeveral implications were suggested and discussed to prevent the negative impact of excessive SNS use on financial well-being among young working adults. Policymakers and financial service providers (e.g. banks) can draw from the findings by constantly framing and delivering their messages to increase the young working adults' awareness of pitfalls of excessive use of innovative technologies on their financial attitudes and self-control over their behaviors and financial well-being.Originality/valueThis study entails some new insights on examining the impact of excessive use of SNS on working millennials' financial well-being as well as the underlying mechanisms behind this phenomenon.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Review Financial Well-beingmentioning

confidence: 99%

Excessive use of social networking sites and financial well-being among working millennials: a parallel-serial mediation model

She

Ma²,

Voon³

et al. 2022

IJBM

View full text Add to dashboard Cite

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“…It was found that a high level of compulsive consumption was directly linked to financial attitude (Barbić et al, 2019). Previous findings confirmed that the self-control of an individual was also related to their financial attitude (Rey-Ares et al, 2021). Footwear consumption was found to be constrained by high prices (Baier et al, 2020).…”

Section: Financial Attitudementioning

confidence: 75%

Why do consumers buy recycled shoes? An amalgamation of the theory of reasoned action and the theory of planned behaviour

Yadav

Kar

Kumar

2022

Front. Environ. Sci.

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The footwear industry’s transition to a circular economy is a essential for sustainable development. The emerging recycled shoe production may lead to sustainable consumption in the footwear industry. Consumers are now more cognizant of the negative effects of their shopping choices. We studied the factors influencing consumers’ intentions of buying recycled shoes. We applied the theory of reasoned action (TRA) and the theory of planned behaviour (TPB). As this is an emerging trend, there is a dearth of sufficient literature regarding sustainable recycled shoe purchase behaviour. We aimed to fill this broad gap with this empirical research. We found that perceived environmental knowledge, subjective norms, sustainable label awareness, and shoe choice motives influenced attitude, and attitude, word of mouth, and environmental consciousness shaped purchase intentions. Sustainable label awareness, shoe surplus, and purchase intentions affected purchase behaviour. The study is beneficial for policymakers and managers of companies for making decisions related to footwear product positioning and targeting.

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“…7.5 Self-control and financial self-efficacy Self-control and self-efficacy are a part of human behavior. Self-control refers to self-discipline that helps overcome temptations and prevent overspending while having a significant positive effect on financial security (Fujita et al, 2006;Lind et al, 2020;Rey-Ares et al, 2021). Self-efficacy helps make the right decisions as it comes from self-confidence in dealing with a situation.…”

Section: Debt and Credit Cardsmentioning

confidence: 99%

A systematic and bibliometric review of the financial well-being: advancements in the current status and future research agenda

Singh

Malik

2022

IJBM

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PurposeAchieving financial well-being is essential for individuals, families and countries as it leads to life satisfaction and happiness. This study synthesizes and identifies financial well-being’s key areas and dimensions using a blended systematic literature review and bibliometric analysis approach.Design/methodology/approachThe authors systematically study a sample of 467 articles from the Scopus database to identify the research trend regarding financial well-being during the last 25 years (1997–2021). Various graphs and networks are presented to understand the publication trends, influential papers, conceptual and intellectual structures and research collaboration status.FindingsFour clusters in the field of financial well-being were found: conceptualization and antecedents of financial well-being, financial well-being of young adults, the relationship between financial literacy and financial well-being and consequences of financial well-being. Further, emerging themes in financial well-being were identified with a content analysis of the papers published during the last five years.Practical implicationsThis study will help financial planners, regulatory bodies and academic researchers in getting a better understanding of financial well-being and in identifying potential areas for future research.Originality/valuePrior to this study, no such comprehensive bibliometric analysis on financial well-being has been carried out to the best of the authors' knowledge. This gap motivated the authors to combine quantitative and qualitative methods to review the published research and do a content analysis, to identify prominent authors and publications.

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Does self-control constitute a driver of millennials’ financial behaviors and attitudes?

Cited by 41 publications

References 46 publications

Excessive use of social networking sites and financial well-being among working millennials: a parallel-serial mediation model

Excessive use of social networking sites and financial well-being among working millennials: a parallel-serial mediation model

Why do consumers buy recycled shoes? An amalgamation of the theory of reasoned action and the theory of planned behaviour

A systematic and bibliometric review of the financial well-being: advancements in the current status and future research agenda

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