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Sensation-Seeking, Risk-Taking, and Problematic Financial Behaviors of College Students

Abstract

College students are at especially high risk for serious financial problems due to easy availability of credit cards, rising tuition, and a declining economy. Arnett (Am Psychol 55:469–480, 2000) proposed 18–25 year olds may be considered emerging adults and are characterized by less stable financial situations than those who perceive themselves to be adults. A survey was given to 450 students at two Mississippi universities. The results showed student financial behaviors were related to age, gender, public assistance, adult status, sensation-seeking, and potential for problem gambling. This study is unique in that it investigated the relationship of emerging adult/adult status and other individual and socio-demographic variables to financial behaviors among college students, a conceptualization that has not been explored in the past.

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Correspondence to Sheri Lokken Worthy.

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Worthy, S.L., Jonkman, J. & Blinn-Pike, L. Sensation-Seeking, Risk-Taking, and Problematic Financial Behaviors of College Students. J Fam Econ Iss 31, 161–170 (2010). https://doi.org/10.1007/s10834-010-9183-6

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  • DOI: https://doi.org/10.1007/s10834-010-9183-6

Keywords

  • Adult status
  • College students
  • Financial behaviors