Evaluating and budgeting with instalment credit: an interview study

Article Abstract:

The role of instalment credit in personal finance and the way consumers perceive it are investigated. It is proposed that consumers think of instalment credit in terms of two theoretical notions: discounted utility and psychological or mental accounts. The study's results suggest that mental accounts are useful in personal budgeting in that they help individuals balance their incomes against their expenses over unlimited time periods.

Research, Personal finance, Personal budgets, Installment contracts

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Estimating the duration of a flexible loan: the effect of supplementary information

Article Abstract:

An analysis of specific monetary information on the duration of flexible credit shows that full information on total interest charges (TIC) significantly helps consumers estimate loan duration effectively. This is because information on TIC enables consumers to budget effectively over the medium term, and comparisons among different loan arrangements is possible.

Psychological aspects, Economic aspects, Interest rates, Loans

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The role of mental accounting in consumer credit decision processes

Article Abstract:

Influence of mental accounting on consumer credit decision making is examined.

United States, Commercial Banks, Management dynamics, Private Households, Consumer Credit, Consumer Capital & Loan Transactions, Decision-making, Decision making, Management, Influence, Company business management, Arithmetic, Mental, Mental arithmetic

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