Attitudes toward debt and financial stress in emerging adults: Mediating role of planning and impulsive buying; Actitudes hacia el endeudamiento y estrés financiero en adultos emergentes: rol mediador de las compras planificada e impulsiva

Abstract

Introduction: Worry about finances is one of the main causes of financial stress, especially in population groups with unstable income and jobs. This article aimed to determine whether austere and hedonistic debt attitudes are directly related to financial stress and indirectly through planned and impulsive buying attitudes in emerging adults. Method: The design was cross-sectional, with a correlational-explanatory scope. Self-report scales were answered online by a sample of 624 emerging adults (63.1% women) with an average age of 20.44 (SD = 3.35). Results: Structural equation modeling analysis revealed that austere attitudes are directly linked to financial stress, and indirectly through planned purchases. Regarding hedonistic attitudes, a direct association with impulsive buying was found, but no relationship with financial stress was observed. Conclusion: Financial stress increases when emerging adults have more austere and planned purchasing attitudes, therefore, they may feel pressure to make more efficient use of money. It would be interesting in future studies to have samples from other age ranges that allow comparing the evidence found to contribute to the development of Financial Education strategies based on scientific evidence. © 2024 Elsevier B.V., All rights reserved.