Sequential loss of self-control: Exploring the antecedents and consequences of student credit card debt
Journal of Financial Services Marketing
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Self-control lapses not only impact credit card debt, but combined with this debt lead to further self-control lapses and life stressors for consumers. A causal model is developed and tested exploring college students' pre-/post-debt decisions as a series of sequential losses in self-control, and how initial and post-failure decisions impact financial anxiety. Pre-debt loss of control takes on two forms: materialism and impulsivity. Locus of control theory is used to test how post-failure self-control lapses negatively impact the psychological well-being of consumers. A better understanding of these time-ordered selfcontrol mechanisms offers insights for developing educational and policy interventions useful for staving off self-control lapses early in the decision-making process. © 2016 Macmillan Publishers Ltd.
Anxiety; Credit card debt; Financial services; Impulsivity; Locus of control; Materialism; Self-control
Peltier, J. W.,
Dahl, A. J.,
Sequential loss of self-control: Exploring the antecedents and consequences of student credit card debt.
Journal of Financial Services Marketing, 21(3),