The Relationship between Decision and Payment Habits and Its Relation with Wasting—Evidence from Hungary

Zsófia Pintér, Katalin Tóth, Tibor Bareith and József Varga
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Zsófia Pintér: Institute of Economics, Hungarian University of Agriculture and Life Sciences, H-7400 Kaposvar, Hungary
Katalin Tóth: Institute of Economics, Hungarian University of Agriculture and Life Sciences, H-7400 Kaposvar, Hungary
Tibor Bareith: Institute for Business Regulation and Information Management, Hungarian University of Agriculture and Life Sciences, H-7400 Kaposvar, Hungary
József Varga: Institute for Business Regulation and Information Management, Hungarian University of Agriculture and Life Sciences, H-7400 Kaposvar, Hungary

Sustainability, 2021, vol. 13, issue 13, 1-13

Abstract: The aim of the study is to explore the relationship between overspending and the method of payment, to highlight its causes. The non-representative survey was conducted between 2020 and 2021 in Hungary (n = 499) using the snowball sampling of data collection. They examined the relationship between age, education, place of residence, and payment methods, and analyzed the impact of internal and external factors on cash consumption and sustainability. The results showed that the use of cash as a method of payment is characteristic with advancing age, and higher education has a higher willingness to pay electronically according to the examined sample, and the existence of electronic access is not related to the size of the settlement. It can be stated that the majority of respondents have no choice when choosing a payment method. The answers reflect confidence in electronic payment solutions (a value of 2.21 on a six-point scale). Each group believes that they can consciously plan their budget (alternative budget). With proper communication and awareness of these influencing factors, financial awareness can be strengthened.

Keywords: cash; payment habit; purchase decision; consumer confidence; waste (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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