The relationship between the demographic profile and the behavioral characteristics of working professionals

• Main Author: Albao, Marycris O.
• Format: text
• Published: Animo Repository 2018
• Subjects: Credit card holders (Persons)—Philippines—Psychology; Credit cards; Finance and Financial Management
• Online Access: https://animorepository.dlsu.edu.ph/faculty_research/9180
• Institution: De La Salle University

This study achieved the following objectives: analyze the behavioral characteristics and examine the relationship between the demographic profile and behavioral characteristics, and the relationship between the frequency of credit card usage of working professionals and the behavioral characteristics. The 70 volunteer respondents were working professionals from private university, private commercial bank, and one government office of the National government from Metro Manila and General Santos City. Spearman Rho Correlation Test and Linear Regression were used in the data interpretation. The results revealed that there was a significant positive relation with a mean score of (r(70)=.15,p<.01) between age, house status and period of credit card usage and financial literacy score. Further, the result of regression analysis revealed only house status has positive significant effect on the score financial literacy behavior of credit cardholders (R2=98.94, F(1,68)=6364, p<.001). From the descriptive statistics there are 37% out of 100% respondents acquired their house not under mortgage. This result is supported by the study of Financial Literacy: A Barrier to Home Ownership for the Young?, wherein in their findings revealed that financial literacy is generally high for those who acquired home ownership not out of mortgage and renting. Further, the results revealed that financial literacy in homeownership among the young respondents are important than the older respondents. Majority of the covered respondents were young which comprised 65.71% out of 100%. Importance of financial literacy in house ownership is realistic for it is an investment decision that involves long term impact to the respondents.