BEHAVIORS AFFECTING DEBT CREATION OF GENERATION Y IN UDON THANI MUNICIPALITY Behaviors Affecting Debt Creation of Generation Y in Udon Thani Municipality

Abstract

This research aims to study demographic factors related to debt-creating characteristics, behaviors influencing debt creation related to debt-creating characteristics, and factors affecting debt creation that influence debt-creating characteristics among Generation Y members in the Udon Thani municipality. Four hundred questionnaires were used for data collection from the sample group. The data were analyzed by frequency, percentage, mean, standard deviation, and one-way ANOVA of demographic factors related to debt-creating characteristics, behaviors influencing debt creation related to debt-creating characteristics, and factors affecting debt creation that influence debt-creating characteristics among Generation Y members in Udon Thani. The results of the study showed that a variety of genders, ages, education levels, monthly income, and monthly expenses differently affected debt-creating characteristics such as the frequency of a visit to an expensive restaurant or the indifference of Generation Y to debt-creating characteristics. Behaviors affecting debt-creation – including the frequency of visiting an expensive restaurant, the frequency of visiting a nightclub, making a financial plan, and the frequency of purchasing a brand-named-product or luxury good – are associated with the debt-creating characteristics of Generation Y in Udon Thani in terms of monthly debt burden. Having revealed key debt-creating causes, the research study can help financial institutions understand the spending and financial management behaviors of Generation Y including factors affecting debt-creating characteristics. More importantly, the findings can serve as marketing guidelines.

Keywords: Generation Y, Behaviors affecting debt, Factors affecting debt, Nature of debt