The Influence of Financial Well-Being on Pawnshop Use

This research examined the influence of financial well-being on pawnshop use. Data from the 2015 National Financial Capability Study were used to construct a measure of financial well-being, based on the Consumer Financial Protection Bureau’s definition. A higher financial well-being reduced the odd...

Full description

Saved in:
Bibliographic Details
Published inThe Journal of consumer affairs Vol. 53; no. 4; pp. 1674 - 1692
Main Authors NICOLINI, GIANNI, CUDE, BRENDA J.
Format Journal Article
LanguageEnglish
Published Malden, USA Wiley 01.12.2019
Wiley Periodicals, Inc
Blackwell Publishing Ltd
Subjects
Banking
Credit cards
Economic well being
Financial Literacy and Education
Pawn shops
Well being
Online AccessGet full text

Cover

More Information
Summary:This research examined the influence of financial well-being on pawnshop use. Data from the 2015 National Financial Capability Study were used to construct a measure of financial well-being, based on the Consumer Financial Protection Bureau’s definition. A higher financial well-being reduced the odds of pawnshop use by 17 %, even after controlling for having a bank account, having a credit card, being financially overconfident, proximity to local pawnshops, and selected demographic characteristics. The authors make recommendations for future research based on changes in the pawnshop industry and its users.
Bibliography:ObjectType-Article-1
SourceType-Scholarly Journals-1
ObjectType-Feature-2
content type line 14
ISSN:0022-0078
1745-6606
DOI:10.1111/joca.12244