Attitudes toward Financial Management

Attitude toward financial matters and practices is an important predictor of financial behavior. Attitudes, values and beliefs toward financial practices impact financial decision making and are reflected in a person’s monetary practices and habits. A person’s financial attitude, value or beliefs can influence their financial stability and goal setting, and be an indicator of financial management practices such as savings, spending, loan delinquency, and credit card debt (Chien and Devaney, 2001; Parotta and Johnson, 1998). Having a positive attitude toward financial management can have a positive effect on an individual’s intentions to utilize several types of savings/investment vehicles, limit credit card use, and manage their finances in more beneficial ways (Borden et al., 2008). 

Programs should compare data annually. Client data could be collected at intake/enrollment and at termination/exit from program (pre-post assessment).


Sources Cited

Borden, L.M., Lee, S. Serido, J. and Collins, D. (2008). Changing College Students’ Financial Knowledge, Attitudes, and Behavior through Seminar Participation. Journal of Family and Economic Issues, 29 (1), pp 23-40.

Chien, Y. W. and Devaney, S. A. (2001). The Effects of Credit Attitude and Socioeconomic Factors on Credit Card and Installment Debt. Journal of Consumer Affairs, 35, 162–179.

Parrotta, J.L., and Johnson, P. J. (1998). The Impact Of Financial Attitudes And Knowledge On Financial Management And Satisfaction Of Recently Married Individuals. Association for Financial Counseling and Planning Education.


Additional Resources

NeighborWorks’ Success Measures Tools for Practitioners