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The effects of financial literacy on the borrowing behaviour of Turkish financial consumers



Özlem Sayılır, Faculty of Business Administration, Anadolu University, Yunus Emre Campus, Eskisehir 26470, Turkey.



Our research attempts to measure the effects of financial literacy of Turkish financial consumers on the borrowing behaviour. A questionnaire is administered to a sample of 550 people in the city of Eskisehir. In-depth interviews are undertaken with 10 financial consumers to support the findings. Findings of the study indicate differences in the borrowing behaviour of consumers with different levels of financial literacy. Considering the relationship between financial literacy and borrowing behaviour, we suggest that attempts to increase financial literacy of financial consumers may have important implications in the prevention of excessive borrowing.