Financial Self-Control: Links with Credit Behavior and Individual’s Social Characteristics

Financial Self-Control: Links with Credit Behavior and Individual’s Social Characteristics

Diomin A.N.

Dr. Sci. (Psychol.), Head of the Chair of Social Psychology and Management Sociology, Kuban State University, Krasnodar, Russia.

ID of the Article:

The study was carried out with support of the Russian Fund for Fundamental Research, project No. 18-013-01176 А.

For citation:

Diomin A.N. Financial Self-Control: Links with Credit Behavior and Individual’s Social Characteristics. Sotsiologicheskie issledovaniya [Sociological Studies]. 2020. No 6. P. 72-81


The links between individual’s financial self-control and credit use, on the one hand, and its social characteristics, on the other, have been researched. The results suggest that financial selfcontrol is included in the use of different types of credit services and, thus, is part of the social process of crediting policies. Mortgage borrowers have the highest financial self-control, followed by consumer credit borrowers and by borrowers in microfinance institutions. Financial self-restraint, readiness to save, expenditures planning are among the self-control parameters that statistically significantly differentiate timely payers and debtors in all types of credit. Financial self-control indicators are closely related to the level of education, material status, family status and employment status, i.e. characteristics that are directly related to resources of individuals (material, intellectual, interpersonal). In this regard, financial self-control should be seen as an important complement to the social characteristics of credit users. It is concluded that the concept of financial self-control helps to reveal more adequately the content of financial activity of a person and may contribute to a productive interdisciplinary synthesis of economic sociology and economic psychology.

credits; financial self-control; debtors; interdisciplinary approach; economic psychology


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Content No 6, 2020