The Academy of Financial Services 35th Annual Meeting

Financial knowledge, impulsivity, social motivation, credit card bill payment behavior

The study investigates the association between financial knowledge, impulsivity, social motivation, and credit card bill payment behavior of college students. A total sample of 166 college students from the Study on Collegiate Financial Wellness (SCFW) was used for analysis. Multinomial Logistic Regression was conducted to test the hypothesized model. The current study suggests that college students with a higher level of financial knowledge or a lower level of impulsivity are more likely to engage in responsible credit card payment behavior. Contrary to previous studies, female students are more likely to participate in responsible credit card payment behavior. Implications for consumers and policymakers are discussed.