Self-Control, Financial Literacy and Consumer Over-Indebtedness (Case Study: Yazd Tire Industries Complex)

This research has been designed and implemented to assess the level of financial literacy of workers and to examine the effect of demographic (demographic) characteristics on financial literacy and the effect of financial literacy and self-control on their over-indebtedness. The population of the research includes the personnel of Yazd Tire company and the sample consisted of 170 employees selected by random sampling using Cochran's formula that after distributing the questionnaires and referrals and repeated follow-ups of the researcher, 107 acceptable questionnaires were collected. This study is comprised of three main hypotheses tested using two independent samples t-test and analysis of variance (ANOVA). In examining the various hypotheses, the results indicate that the workers are generally financially low in literacy. But they are literate in some areas of financial literacy, including savings and savings, spending and borrowing, insurance, and retirement. Also, the effect of self-control on the over-indebtedness of consumers is negative or inverse. Finaly the financial literacy have a negative effect on over-indebtedness and positive effect on self-control in view of financial perspective.