IDEAS home Printed from https://ideas.repec.org/a/bla/jconsa/v59y2025i3ne70025.html
   My bibliography  Save this article

Factors and Determinants of Financial Behaviors That Undermine Financial Well‐Being: A Qualitative Study

Author

Listed:
  • Tania Morris
  • Lamine Kamano
  • Vicky Therrien

Abstract

This paper aims to identify the factors, their determinants, and indicators contributing to financial behaviors that may be detrimental to people's financial well‐being. A qualitative methodology was employed, involving financial professionals and members of the general population. The theory of planned behavior was inductively used as an analytical framework. The results suggest that detrimental financial behaviors are shaped by (1) attitudes such as financial apprehension, rigid financial mindsets, and lack of awareness; (2) social influences including relational pressure, sociocultural norms, geographic context, social media, and marketing; (3) perceived behavioral control factors such as limited knowledge, environmental conditions, financial ecosystem, and insufficient education; and (4) ingrained financial habits, including avoidance, cognitive biases, overconsumption, and lifestyle orientation. The originality of this research lies in the new insights it offers into the cognitive and psychological processes shaping financial behaviors. The findings interest stakeholders such as government bodies, financial education developers, researchers, and regulators.

Suggested Citation

  • Tania Morris & Lamine Kamano & Vicky Therrien, 2025. "Factors and Determinants of Financial Behaviors That Undermine Financial Well‐Being: A Qualitative Study," Journal of Consumer Affairs, Wiley Blackwell, vol. 59(3), September.
    • Handle: RePEc:bla:jconsa:v:59:y:2025:i:3:n:e70025
    DOI: 10.1111/joca.70025
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/joca.70025
    Download Restriction: no
    File URL: https://libkey.io/10.1111/joca.70025?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jconsa:v:59:y:2025:i:3:n:e70025. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0022-0078 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.