Examining tendencies to change financial behavior in the face of financial theatre

Today, economic uncertainties, inflationary pressures, exchange rate fluctuations, and unexpected financial shocks directly threaten individuals' financial well-being. The main objective of this study is to examine the relationship between financial threat and individuals' willingness to change their financial behavior and its components, and to identify differences in these components based on demographic variables. During the data collection process, a questionnaire consisting of demographic questions, the Financial Threat Scale, and the Willingness to Change Financial Behavior Scale was administered to 399 individuals aged 18 and over living in Erzincan. Independent-samples t-tests, ANOVA, correlation analysis, and regression analysis were used to analyze the data. The study examined the relationships between financial threat and individuals' willingness to change their financial behavior and its components, as well as whether these relationships differed according to demographic factors. The findings revealed a significant relationship between financial threat and individuals' willingness to change their financial behavior and its components. In addition, significant differences were identified in perceived financial threat, willingness to change financial behavior, and its components according to demographic variables such as gender, marital status, educational level, and number of children. This study aims to contribute to the literature by enhancing the understanding of the relationship between financial threat and individuals' willingness to change their financial behavior. The findings are largely consistent with existing approaches in the behavioral finance literature and offer practical recommendations for financial advisors and policymakers seeking to mitigate financial threats.