Credit card literacy and financial well-being of college students

A moderated mediation model of self-efficacy and credit card number

Yam Limbu, Shintaro Sato

Research output: Contribution to journalArticleResearchpeer-review

2 Citations (Scopus)

Abstract

Purpose: By testing a moderated mediation model, the purpose of this paper is to examine the mediating role of credit card self-efficacy in the relationship between credit card literacy and financial well-being. The authors further examine if credit card number moderates this effect. Design/methodology/approach: Data for the study were collected from 427 college students. The PROCESS macros in IBM SPSS Statistics 23 was used to assess the hypothesized relationships. Findings: Credit card literacy positively influences financial well-being through self-efficacy. However, this effect is stronger when college students own fewer credit cards. Practical implications: Banks and credit card issuers, policymakers and colleges and universities should place a greater emphasis on credit card literacy programs that enhance students’ general understanding of credit card terms and conditions and confidence in their ability to effectively use and manage their credit cards. Originality/value: To our knowledge, this is the first study to examine the relationship between credit card literacy, self-efficacy and financial well-being.

Original languageEnglish
JournalInternational Journal of Bank Marketing
DOIs
StatePublished - 1 Jan 2019

Fingerprint

Literacy
College students
Well-being
Self-efficacy
Mediation
Credit cards
Testing
Confidence
Design methodology
Politicians
Statistics

Keywords

  • Credit card literacy
  • Credit card number
  • Financial well-being
  • Self-efficacy

Cite this

@article{98581c4300be465db8973eaf6e1143aa,
title = "Credit card literacy and financial well-being of college students: A moderated mediation model of self-efficacy and credit card number",
abstract = "Purpose: By testing a moderated mediation model, the purpose of this paper is to examine the mediating role of credit card self-efficacy in the relationship between credit card literacy and financial well-being. The authors further examine if credit card number moderates this effect. Design/methodology/approach: Data for the study were collected from 427 college students. The PROCESS macros in IBM SPSS Statistics 23 was used to assess the hypothesized relationships. Findings: Credit card literacy positively influences financial well-being through self-efficacy. However, this effect is stronger when college students own fewer credit cards. Practical implications: Banks and credit card issuers, policymakers and colleges and universities should place a greater emphasis on credit card literacy programs that enhance students’ general understanding of credit card terms and conditions and confidence in their ability to effectively use and manage their credit cards. Originality/value: To our knowledge, this is the first study to examine the relationship between credit card literacy, self-efficacy and financial well-being.",
keywords = "Credit card literacy, Credit card number, Financial well-being, Self-efficacy",
author = "Yam Limbu and Shintaro Sato",
year = "2019",
month = "1",
day = "1",
doi = "10.1108/IJBM-04-2018-0082",
language = "English",
journal = "International Journal of Bank Marketing",
issn = "0265-2323",
publisher = "Emerald Group Publishing Ltd.",

}

TY - JOUR

T1 - Credit card literacy and financial well-being of college students

T2 - A moderated mediation model of self-efficacy and credit card number

AU - Limbu, Yam

AU - Sato, Shintaro

PY - 2019/1/1

Y1 - 2019/1/1

N2 - Purpose: By testing a moderated mediation model, the purpose of this paper is to examine the mediating role of credit card self-efficacy in the relationship between credit card literacy and financial well-being. The authors further examine if credit card number moderates this effect. Design/methodology/approach: Data for the study were collected from 427 college students. The PROCESS macros in IBM SPSS Statistics 23 was used to assess the hypothesized relationships. Findings: Credit card literacy positively influences financial well-being through self-efficacy. However, this effect is stronger when college students own fewer credit cards. Practical implications: Banks and credit card issuers, policymakers and colleges and universities should place a greater emphasis on credit card literacy programs that enhance students’ general understanding of credit card terms and conditions and confidence in their ability to effectively use and manage their credit cards. Originality/value: To our knowledge, this is the first study to examine the relationship between credit card literacy, self-efficacy and financial well-being.

AB - Purpose: By testing a moderated mediation model, the purpose of this paper is to examine the mediating role of credit card self-efficacy in the relationship between credit card literacy and financial well-being. The authors further examine if credit card number moderates this effect. Design/methodology/approach: Data for the study were collected from 427 college students. The PROCESS macros in IBM SPSS Statistics 23 was used to assess the hypothesized relationships. Findings: Credit card literacy positively influences financial well-being through self-efficacy. However, this effect is stronger when college students own fewer credit cards. Practical implications: Banks and credit card issuers, policymakers and colleges and universities should place a greater emphasis on credit card literacy programs that enhance students’ general understanding of credit card terms and conditions and confidence in their ability to effectively use and manage their credit cards. Originality/value: To our knowledge, this is the first study to examine the relationship between credit card literacy, self-efficacy and financial well-being.

KW - Credit card literacy

KW - Credit card number

KW - Financial well-being

KW - Self-efficacy

UR - http://www.scopus.com/inward/record.url?scp=85061438902&partnerID=8YFLogxK

U2 - 10.1108/IJBM-04-2018-0082

DO - 10.1108/IJBM-04-2018-0082

M3 - Article

JO - International Journal of Bank Marketing

JF - International Journal of Bank Marketing

SN - 0265-2323

ER -