This is how responsible debtors behave

They spend no more money than they can afford, avoid impulse purchases, and pay all their bills and credit obligations on a regular basis.

Consumers are financially literate


The financial well-being of an individual is almost entirely dependent on the decisions he or she makes – although it may not seem so to many. Consumers are financially literate, with the knowledge, skills, attitudes, and behaviors required to manage their own finances in accordance with personal and/or family interests.

Individuals must face all the consequences of their choices. The ultimate goal of an individual’s decision is to satisfy one’s need or desire on the one hand, and on the other, to achieve the personal financial goals that he or she has set. Responsible consumer behavior comes down to well-informed, rational decisions.

Consumer decision making is influenced by many factors 


However, consumer decision making is influenced by many factors – why we make decisions that will cause us problems. We are influenced by many social factors such as culture, stock, and situation, as well as personal and psychological influences. The physical and social environment, time, and conditions of purchase may lead us to make adverse decisions for us.

Certain occasions and rituals and how they affect our resilience to what we know is right for our wallet. Christmas, Valentine’s Day, or seasonal reductions are the real situational bait where even the greatest rationalists linger in their control mechanisms.

This is so because in a cultural context these situations have come to be regarded as “normal” and are not perceived as impulsive purchases, but reasonable and expected.

The impact of the environment, especially of family and friends, is extremely important to our consumer decision making and the way we spend money.

Similarly, because of environmental expectations, despite, for example, diminishing financial capacity, individuals continue with the same lifestyle and level of consumption because they feel the pressure of the environment to continue.

Of the personal factors that include motives and motivation, perception, attitudes, personality traits, and knowledge, motivation stands out.

According to some research, up to 90% of our choices at the point of purchase are determined by impulse, feeling, or habit. Although such findings vary widely across groups of people, it remains clear that only a small portion of our decisions are truly based on cognitive decision-making.

7 characteristics of the responsible debtor


Achieving your own well-being is based on money management, planning, and careful consumer decision making. Responsible debtors have the following characteristics:

  • they do not spend more money than they can at the present moment, and given the expected future position
  • avoid impulsive buying decisions; make well-informed decisions
  • select financial products and services that are consistent with their present and future financial capabilities
  • they are well informed and seek advice from experts
  • they save on contingencies, which are the recommended six-month expenditures of one household
  • regularly pay credit card liabilities and other financial liabilities

analyze the possible future financial situation in the light of revenue reductions, unexpected costs, reductions in real assets, and new fiscal rules.

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