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How low spending control harms consumers

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Abstract

Self-control is a critical aspect of consumer behavior that has wide-ranging implications for individual and societal welfare. The present research builds upon previous work regarding consumer spending self-control by examining the financial, decision making, social, and psychological consequences of low consumer spending self-control. Further, the relationship between consumer spending self-control and general self-control is explored, contributing to a greater understanding of how more general traits translate into spending-related outcomes. This research includes investigations of allocations to retirement accounts, responses to credit limits, resource depletion effects from repeated decision making, and the potential for broader negative social and psychological consequences from low consumer spending self-control.

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Authors and Affiliations

  1. Moore School of Business, University of South Carolina, 1705 College Street, Columbia, SC, 29208, USA

    William O. Bearden

  2. Mays Business School, Texas A&M University, 4112 TAMU, College Station, TX, 77843, USA

    Kelly L. Haws

Authors
  1. William O. Bearden
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  2. Kelly L. Haws
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Correspondence to Kelly L. Haws.

Appendix

Appendix

CSSC Items (Haws et al. 2011a ):

1. I closely monitor my spending behavior.*

2. I am able to work effectively toward long term financial goals.

3. I carefully consider my needs before making purchases.

4. I often delay taking action until I have carefully considered the consequences of my purchase decisions.

5. When I go out with friends, I keep track of what I am spending.

6. I am able to resist temptation in order to achieve my budget goals.

7. I know my limits regarding how much I spend.

8. In social situations, I am generally aware of what I am spending.

9. Having objectives related to spending is important to me.

10. I am responsible when it comes to how much I spend.

*Items assessed on a 7-point strongly disagree to strongly agree scale and then averaged to form an overall CSSC index.

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Bearden, W.O., Haws, K.L. How low spending control harms consumers. J. of the Acad. Mark. Sci. 40, 181–193 (2012). https://doi.org/10.1007/s11747-011-0282-1

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