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Between Knowledge and Strategy: A Cross-Sectional Study on Financial Literacy, Coping, Consumer Loans, and Payment Preferences Among Young Adults in Sweden

Levinsson, Henrik LU ; Santérus, Lydia and Samuelsson, Emma LU (2025) In Behavioral Sciences 15(11).
Abstract
Over-indebtedness is at an all-time high in Sweden. The purpose of this study was to examine the relationships between financial literacy, coping strategies, and consumer financial behaviour. A further aim was to examine gender differences in this context. The study employed a cross-sectional survey design, in which participants (n = 2057) responded to questions related to the study variables. The results of the analysis found a significant relationship between financial literacy, problem-focused coping, and direct payment. Alongside this, the results revealed a significant relationship between financial illiteracy, avoidant coping, having consumer loans, and deferred payment strategies. Men were more likely to have consumer loans and to... (More)
Over-indebtedness is at an all-time high in Sweden. The purpose of this study was to examine the relationships between financial literacy, coping strategies, and consumer financial behaviour. A further aim was to examine gender differences in this context. The study employed a cross-sectional survey design, in which participants (n = 2057) responded to questions related to the study variables. The results of the analysis found a significant relationship between financial literacy, problem-focused coping, and direct payment. Alongside this, the results revealed a significant relationship between financial illiteracy, avoidant coping, having consumer loans, and deferred payment strategies. Men were more likely to have consumer loans and to choose credit payment. Women were more likely to choose the Buy-Now-Pay-Later option in comparison to men. The findings of the present study can provide valuable insights on the psychological aspects of consumer financial behaviour. Additionally, it is recommended that financial literacy be continuously investigated as a potential “protective shield,” particularly in relation to psychological well-being, as well as in the context of the need for extended financial education. (Less)
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author
; and
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
Behavioral Sciences
volume
15
issue
11
publisher
MDPI AG
ISSN
2076-328X
DOI
10.3390/bs15111522
language
English
LU publication?
yes
id
633c40d9-e4d4-4d1f-9c2c-fbc847e51c01
date added to LUP
2025-11-10 20:02:22
date last changed
2025-11-13 13:36:25
@article{633c40d9-e4d4-4d1f-9c2c-fbc847e51c01,
  abstract     = {{Over-indebtedness is at an all-time high in Sweden. The purpose of this study was to examine the relationships between financial literacy, coping strategies, and consumer financial behaviour. A further aim was to examine gender differences in this context. The study employed a cross-sectional survey design, in which participants (n = 2057) responded to questions related to the study variables. The results of the analysis found a significant relationship between financial literacy, problem-focused coping, and direct payment. Alongside this, the results revealed a significant relationship between financial illiteracy, avoidant coping, having consumer loans, and deferred payment strategies. Men were more likely to have consumer loans and to choose credit payment. Women were more likely to choose the Buy-Now-Pay-Later option in comparison to men. The findings of the present study can provide valuable insights on the psychological aspects of consumer financial behaviour. Additionally, it is recommended that financial literacy be continuously investigated as a potential “protective shield,” particularly in relation to psychological well-being, as well as in the context of the need for extended financial education.}},
  author       = {{Levinsson, Henrik and Santérus, Lydia and Samuelsson, Emma}},
  issn         = {{2076-328X}},
  language     = {{eng}},
  month        = {{11}},
  number       = {{11}},
  publisher    = {{MDPI AG}},
  series       = {{Behavioral Sciences}},
  title        = {{Between Knowledge and Strategy: A Cross-Sectional Study on Financial Literacy, Coping, Consumer Loans, and Payment Preferences Among Young Adults in Sweden}},
  url          = {{http://dx.doi.org/10.3390/bs15111522}},
  doi          = {{10.3390/bs15111522}},
  volume       = {{15}},
  year         = {{2025}},
}