Cristina Ottaviani|Daniela Vandone
Financial Literacy, Debt Burden and Impulsivity: A Mediation Analysis
Fondazione Santa Lucia|University of Milan
2008 crisis eu regulatory authorities policy makers started devote resources improve households financial literacy considered key element debt decisions however role another crucial determinant debt burden neglected financial education programmes present study examines role impulsivity financial literacy predictors debt burden sample 445 individuals adhoc built indicator financial literacy scores barratt impulsiveness scale used regressors debt service income ratio proxy debt burden served dependent variable predictors resulted associated debt burden however impulsivity fully mediated impact financial literacy debt even controlling financial wealth findings discussed terms policy implications means formulate effective financial education programmes