Credit Attitude and Intention among Youth Populations: A Comparative Study of India and Singapore

International Journal of Economics and Management Studies

© 2025 by SSRG - IJEMS Journal

Volume 12 Issue 4

Year of Publication : 2025

Authors : Shreya Nangia

10.14445/23939125/IJEMS-V12I4P104

How to Cite?

Shreya Nangia, "Credit Attitude and Intention among Youth Populations: A Comparative Study of India and Singapore," SSRG International Journal of Economics and Management Studies, vol. 12,  no. 4, pp. 26-34, 2025. Crossref, https://doi.org/10.14445/23939125/IJEMS-V12I4P104

Abstract:

Strong financial institutions normalize credit use in advanced economies like Singapore, while in developing economies such as India, platforms such as digital lending services are driving an increase in youth credit utilization. Younger consumers depend more on credit for everyday expenses, whereas previous generations used it mostly for asset-building. Even though previous studies have unearthed factors affecting credit attitudes across numerous demographics, few studies directly compare youth credit perceptions between developed and developing economies, specifically regarding financial responsibility and daily credit utilization. To analyze how social and economic variables influence attitudes towards credit in both emerging and developed nations, this study looks into how youth in Singapore and India approach, perceive, and effectively utilize credit, focusing on the cultural and socioeconomic differences between the two communities. With a quantitative approach, this study collects data from 75 respondents through an online survey targeting youth (ages 15-24) in India and Singapore. The survey included demographic and standardised scale questions to assess credit attitudes and intentions. Using t-test, ANOVA and regression analysis, the study finds that Singaporean youth have a significantly more favorable attitude toward credit and a stronger intention to use it than those in India. Also, participants without income have higher credit intentions than those with stable income, proving that financial necessity and optimism bias shape borrowing behavior. This presents a need for immersive programs promoting long-term financial planning and responsible borrowing, proving effective for youth-driven financial tools and policies.

Keywords:

Credit Attitude, Credit Intention, Financial literacy, Youth credit behavior.

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