2016 | OriginalPaper | Buchkapitel
Credit Behavior and Debt Problems
verfasst von : W. Fred van Raaij
Erschienen in: Understanding Consumer Financial Behavior
Verlag: Palgrave Macmillan US
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Credit is an attractive way to buy now rather than buying after saving. The downside of credit is that consumers may become overin-debted on their credit cards and personal loans. Impulsive behavior, present bias, and lack of overview and self-control are psychological factors explaining why some people misuse credit and get into financial problems. This chapter can be read in combination with chapters 11 (individual differences and segmentation), 12 (confidence and trust), 15 (time preference), and 17 (self-regulation).