Scarcity mindset's positive association with using alternative financial services.

ABSTRACT: The scarcity mindset, where people do not have what they feel that they need, can help consumers address the area of scarcity, but on the other hand can lead to neglect and mistakes elsewhere. This study tests whether a scarcity mindset is associated with the use of alternative financial services, whether the association is stable above and beyond established predictors of the use of alternative financial services, and whether it differs by household income. Data come from the 2021 FINRA National Financial Capability Study's State-by-State survey wave, N = 24,349. Results of binary logistic regression analyses show that, controlling for established predictors of alternative financial services use and socio-demographic characteristics, a stronger scarcity mindset is significantly positively

SUBMITTER: Rooney G 

PROVIDER: S-EPMC12923054 | biostudies-literature | 2026

REPOSITORIES: biostudies-literature