Risk tolerance and the financial satisfaction of credit card users

TitleRisk tolerance and the financial satisfaction of credit card users
Publication TypeJournal Article
Year of Publication2019
AuthorsPayne, P, Kalenkoski, CM, Browning, C
JournalJournal of Financial Counseling and Planning
Pagination110 - 120
Date Published2019
ISBN Number10523073 (ISSN)
KeywordsCredit, Credit cards, financial satisfaction, Health and Retirement Study, Risk tolerance

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. © 2019 Association for Financial Counseling and Planning Education®.


Export Date: 13 January 2020

Short TitleJ. Financ. Couns. Plann.
Citation Key10512