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Financial Literacy, Coping Behaviours, and Personal Payment Strategies Amongst Young Adults in Sweden: A Cross-Sectional Study

Santérus, Lydia LU (2025) PSYP01 20251
Department of Psychology
Abstract
Over-indebtedness is at an all-time high in Sweden. The purpose of this study was to find relationships between financial literacy, the three coping behaviours: problem-focused, emotion-focused and avoidant, and personal payment strategies. A further aim was to find gender and generational differences in this objective. The study is a cross-sectional survey where the participants (N = 2057) answered questions regarding the study’s 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, deferred payment strategies and consumer loans. Men were... (More)
Over-indebtedness is at an all-time high in Sweden. The purpose of this study was to find relationships between financial literacy, the three coping behaviours: problem-focused, emotion-focused and avoidant, and personal payment strategies. A further aim was to find gender and generational differences in this objective. The study is a cross-sectional survey where the participants (N = 2057) answered questions regarding the study’s 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, deferred payment strategies and consumer loans. Men were more likely to have consumer loans and to choose credit payment, and the millennial generation (25-29) were more likely to use the Buy-Now-Pay-Later-method, partial payment and consumer loans in comparison to Generation Z (18-24). The findings of the present study can bring valuable insights to the psychological aspects of financial behaviour. It also highlights the importance of a financially literate population and the need for extended financial education. (Less)
Please use this url to cite or link to this publication:
author
Santérus, Lydia LU
supervisor
organization
course
PSYP01 20251
year
type
H2 - Master's Degree (Two Years)
subject
keywords
financial literacy, coping behaviour, payment strategy, consumer loans, gender difference, generational difference
language
English
id
9205357
date added to LUP
2025-06-30 14:27:57
date last changed
2025-06-30 14:27:57
@misc{9205357,
  abstract     = {{Over-indebtedness is at an all-time high in Sweden. The purpose of this study was to find relationships between financial literacy, the three coping behaviours: problem-focused, emotion-focused and avoidant, and personal payment strategies. A further aim was to find gender and generational differences in this objective. The study is a cross-sectional survey where the participants (N = 2057) answered questions regarding the study’s 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, deferred payment strategies and consumer loans. Men were more likely to have consumer loans and to choose credit payment, and the millennial generation (25-29) were more likely to use the Buy-Now-Pay-Later-method, partial payment and consumer loans in comparison to Generation Z (18-24). The findings of the present study can bring valuable insights to the psychological aspects of financial behaviour. It also highlights the importance of a financially literate population and the need for extended financial education.}},
  author       = {{Santérus, Lydia}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Financial Literacy, Coping Behaviours, and Personal Payment Strategies Amongst Young Adults in Sweden: A Cross-Sectional Study}},
  year         = {{2025}},
}