International Journal of Human Research and Social Science Studies

This study examines the relationships between money attitudes, overconsumption, and overborrowing among consumers in the Greater Malé Region, drawing on the Behavioral Life-Cycle Hypothesis (BLCH) and the Compensatory Consumer Behavior Model (CCBM). A quantitative cross-sectional design was employed using survey data collected from 112 consumers in the Greater Malé Region. Money attitude was examined through five dimensions: Power Prestige, Retention Time, Anxiety, Distrust Consumer Competency, and Bargain-Conscious/Compulsive. Structural equation modelling (SEM) using IBM SPSS AMOS was applied to test the hypothesized relationships and the indirect effects of money attitudes on overborrowing through overconsumption. The findings revealed that Anxiety was negatively associated with overconsumption, whereas Bargain-Conscious/Compulsive attitude was positively associated with overconsumption. Power Prestige, Retention Time, and Distrust Consumer Competency showed no significant relationships with overconsumption. Overconsumption was strongly and positively associated with overborrowing. The indirect-effect analysis further showed significant indirect associations of Anxiety and Bargain-Conscious/Compulsive attitudes with overborrowing through overconsumption, while the indirect effects of the remaining money-attitude dimensions were not significant. The findings highlight that different money attitudes are associated with consumption behaviour in distinct ways and identify overconsumption as an important behavioural pathway connecting specific money attitudes with overborrowing. By integrating BLCH and CCBM, this study contributes to understanding the psychological and behavioural factors associated with excessive borrowing in the Maldivian context.

Money attitudes, overconsumption, overborrowing, Behavioral Life-Cycle, Compensatory Consumer Behavior Model

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