Determinants of Money Management Behavior

Abstract

Financial debt continues to rise, especially among college students, indicating a need for behavioral research to develop more effective money‐management interventions. This study examined social psychological variables relevant to money management decision making among college students. Attitude, affect, perceived ability, and past experience were found to influence money‐management behavior (i.e., maintaining a budget). We also examined an attitude model of money management and found 9 variables (e.g., normative influence, perceived barrier, perceived control) that determined attitudes toward maintaining a budget. The relevance of our findings to debt prevention is discussed.