Consumption and Spending
Measures of consumption and spending capture how one generally uses financial resources.
Mandell L, Klein LS. The impact of financial literacy education on subsequent financial behavior. Journal of Financial Counseling and Planning. 2009;20(1): 15-24.
Some people tend to be very thrifty, saving money whenever they have the chance, while others are very spending-oriented, buying whenever they can and even borrowing to consume more. How would you classify yourself?
- Very thrifty, saving money whenever I can
- Somewhat thrifty, often saving money
- Neither thrifty nor spending oriented
- Somewhat spending oriented, seldom saving money
- Very spending oriented, hardly ever saving money
Faber RJ, O'Guinn TC. A clinical screener for compulsive buying. Journal of Consumer Research. 1992;19(3):459-469.
Five items from the seven-item Compulsive Buying Scale (Faber and O'Guinn, 1992), with the full scale reporting Cronbach’s alpha = .95
If I have any money left at the end of the pay period, I just have to spend it.
- Strongly agree
- Neither agree nor disagree
- Strongly disagree
Please indicate how often you have done each of the following things:
|Bought things even though I couldn’t afford them||o||o||o||o||o|
|Bought myself something in order to make myself feel better||o||o||o||o||o|
|Feel anxious or nervous on days I didn’t go shopping||o||o||o||o||o|
|Made only the minimum payments on my credit cards||o||o||o||o||o|