Exploring emotions and irrationality in attitudes towards consumer indebtedness: Individual perspectives of UK payday loan consumption

Brown, Jane and Woodruffe-Burton, Helen (2015) Exploring emotions and irrationality in attitudes towards consumer indebtedness: Individual perspectives of UK payday loan consumption. Journal of Financial Services Marketing, 20 (2). pp. 107-121. ISSN 1363-0539

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Abstract

The aim of this research is to explore contemporary consumers’ emotions and irrationality in attitudes towards indebtedness, using the UK payday loan industry as a focus point. UK consumers’ have recently experienced a significant financial crisis, the result of which is expected to alter consumers’ spending, saving and borrowing habits. By using existential-phenomenological interviews to discuss individuals’ experiences of these activities, we observe some of the key issues emerging from this context. A primary theme is the influence of emotions on decision making, and how this shapes ‘irrationality’. This article aims to draw attention to this emotive thinking, which may be significant in thinking about how payday loans are communicated to users in the future.

Item Type:	Article
Subjects:	N100 Business studies N300 Finance
Department:	Faculties > Business and Law > Newcastle Business School
Depositing User:	Becky Skoyles
Date Deposited:	15 Jun 2015 07:46
Last Modified:	19 Nov 2019 09:49
URI:	http://nrl.northumbria.ac.uk/id/eprint/22883

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