Please indicate your agreement with the following statements:
1. Taking out a loan is a good thing because it allows you to enjoy life.
2. It is a good idea to have something now and pay for it later.
3. Using credit is basically wrong. *
4. I’d rather go hungry than buy food “on tick” (substitute “on credit” for “on tick”). *
5. I plan ahead for larger purchases.
6. Being in debt is never a good thing. *
7. Credit is an essential part of today’s lifestyle.
8. It is better to go into debt than to let children go without Christmas presents.
9. It is important to live within one’s means. *
10. Even on a low income, one should save a little regularly. *
11. Borrowed money should be repaid as soon as possible. *
12. Most people run up too much debt. *
13. It is too easy for people to get credit cards. *
14. I do not like borrowing money. *
15. Borrowing money is sometimes a good thing.
16. I am rather adventurous with my money.
17. It is okay to borrow money to pay for children’s clothes.
Items with * reverse coded.
Source: Lea, S. E., Webley, P., & Walker, C. M. (1995). Psychological factors in consumer debt: Money management, economic socialization, and credit use.Journal of economic psychology, 16(4), 681-701.