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Mindfulness, Money Attitudes, and Credit

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  • Maria C. Pereira
  • Filipe Coelho

Abstract

Consumer credit is a central feature of modern living, having been an important topic of research for some time. In contrast, mindfulness has only recently gained research prominence. Our study develops a model that links individuals' mindfulness with their credit intentions/use, and that further proposes money attitudes as a mediator variable. Broad support for the model is provided by a sample of students from a Portuguese University and a second sample composed of adult US residents. The results suggest that mindfulness might play a significant role in shaping consumers' money attitudes and credit intentions/use. Additionally, the study suggests that the relationships of mindfulness and money attitudes with credit are only significant when credit is directed toward the purchase of nonbasic products. These results yield a number of considerations for future research and for institutions promoting financial education, which could lead to improved debt management and greater financial well‐being.

Suggested Citation

  • Maria C. Pereira & Filipe Coelho, 2019. "Mindfulness, Money Attitudes, and Credit," Journal of Consumer Affairs, Wiley Blackwell, vol. 53(2), pages 424-454, June.
    • Handle: RePEc:bla:jconsa:v:53:y:2019:i:2:p:424-454
    DOI: 10.1111/joca.12197
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    Cited by:

    1. Amy Errmann & Felix Septianto, 2023. "Balancing evolutionary impulses: Effects of mindfulness on virtue food preference," Journal of Consumer Affairs, Wiley Blackwell, vol. 57(2), pages 848-870, April.
    2. Ellen Campos Sousa & Luciana Freire, 2023. "The effect of brief mindfulness‐based intervention on patient satisfaction and loyalty after waiting," Journal of Consumer Affairs, Wiley Blackwell, vol. 57(2), pages 906-942, April.
    3. Julia Bayuk & Hyunjung Crystal Lee & Jooyoung Park & Serkan Saka & Debabrata Talukdar & Jayati Sinha, 2022. "Mindfully aware and open: Mitigating subjective and objective financial vulnerability via mindfulness practices," Journal of Consumer Affairs, Wiley Blackwell, vol. 56(3), pages 1284-1311, September.
    4. Martinez, Luisa M. & Pacheco, Natália & Ramos, Filipe R. & Bicho, Marta, 2023. "Would you try it again? Dual effects of customer mindfulness on service recovery," Journal of Retailing and Consumer Services, Elsevier, vol. 74(C).
    5. Kyungin Ryu, 2023. "The importance of language: A comparison of consumer and academic definitions of mindfulness," Journal of Consumer Affairs, Wiley Blackwell, vol. 57(2), pages 943-971, April.
    6. Shalini Bahl & George R. Milne & Elizabeth G. Miller, 2023. "Expanding consumer mindfulness for collective sustainable well‐being: Overview of the special issue and future research directions," Journal of Consumer Affairs, Wiley Blackwell, vol. 57(2), pages 699-720, April.
    7. S. Venus Jin & Ehri Ryu, 2022. "“The greedy I that gives”—The paradox of egocentrism and altruism: Terror management and system justification perspectives on the interrelationship between mortality salience and charitable donations ," Journal of Consumer Affairs, Wiley Blackwell, vol. 56(1), pages 414-448, March.

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