Xiao, 2004(2), Applying the Transtheoretical Model of Change to Consumer Debt Behavior

Financial
Counseling and Planning

The Journal of the
Association for Financial
Counseling and
Planning Education


Volume  15(2),
2004


Applying the
Transtheoretical Model of Change to Consumer Debt Behavior

Jing Jian Xiao, Barbara M. Newman, Janice M. Prochaska, Berta Leon,
Robert L. Bassett and Janet L. Johnson

    The Transtheoretical
    Model of Change (TMM) provided the framework for developing a measure
    to assess readiness to get out of credit card debt with consumers who
    are having credit card debt troubles. Key constructs of TTM include
    stages of change, decisional balance, self-efficacy, and processes of
    change. The items for the measure were developed by qualitative
    interviews with experts in credit counseling and consumers with debt
    troubles. A survey was then completed with a reliability and validity
    of the measure. The results have potential for use by counseling
    practitioners, educators and researchers.

    Keywords: Behavior
    modification, Consumer behavior, Credit card debt, Financial
    management, Transtheoretical model