Date of Original Version
The Transtheoretical Model of Change (TMM) provided the framework for developing a measure to assess readiness to get out of credit card debt with consumers who are having credit card debt troubles. Key constructs of TTM include stages of change, decisional balance, self-efficacy, and processes of change. The items for the measure were developed by qualitative interviews with experts in credit counseling and consumers with debt troubles. A survey was then completed with a reliability and validity of the measure. The results have potential for use by counseling practitioners, educators and researchers.
Xiao, J. J., Newman, B. M., Prochaska, J. M., Leon, B., Bassett, R., & Johnson, J. L. (2004). Applying the transtheoretical model of change to debt reducing behavior. Financial Counseling and Planning, 15(2), 89-100.