Consolidated Credit and Nova Southeastern University Collaborate on Academic Study Published in JABE

FORT LAUDERDALE, FL, April 17, 2025 [Noticias Newswire] – Consolidated Credit is pleased to announce that April Lewis-Parks, Director of Education and Corporate Communications, and William Wolf, Director of Strategic Partnerships, have coauthored an important research paper with Dr. Albert Williams from Nova Southeastern University. The article, titled “Is Credit Card Usage for Entertainment Related to Demographic, Psychological, and Financial Characteristics of Credit Card Owners?”, has been published in the Journal of Academy of Business and Economics (JABE).

JABE is a peer-reviewed academic journal published by the International Academy of Business and Economics, aimed at promoting cutting-edge research that connects theory with practical applications in global business and economics.

The study is featured in Volume 25, Issue 1 (page 107) and investigates the connection between entertainment-related credit card usage and several consumer factors, such as age, income, personality traits, and financial behavior. The results offer valuable insights into how credit cards are used for non-essential spending, providing important perspectives amid rising consumer debt and shifting economic landscapes.

“This research is an extension of our mission at Consolidated Credit: to understand the financial behaviors that shape people’s lives and help create solutions,” said April Lewis-Parks. “Working with Dr. Williams and William Wolf on this academic study was a great opportunity to share our field experience with a global scholarly audience.”

“Credit card debt related to non-essential purchases is an often-overlooked driver of financial instability,” added William Wolf. “By examining the factors influencing this behavior, we can better develop educational tools and interventions that resonate with real-life consumers.”

Dr. Albert Williams, professor of finance and economics at Nova Southeastern University, noted the collaboration as a successful example of academic and nonprofit synergy. “We were able to combine rigorous methodology with real-world experience from Consolidated Credit to gain new insights into how consumer behavior intersects with credit usage. This kind of research can inform both financial education and public policy.”

The article contributes to a growing body of literature that emphasizes the importance of financial psychology in understanding consumer debt. It is also timely, given recent national trends indicating that Americans are increasingly turning to credit cards for entertainment and lifestyle expenses—even as interest rates and debt levels rise.

The full article is available through JABE’s current issue: https://acrobat.adobe.com/id/urn:aaid:sc:VA6C2:ca50713e-59d9-4101-b862-f0206a551d0a

For more information about Consolidated Credit’s financial education initiatives or to schedule interviews with the authors, please contact: Jill Randloph [email protected]

About Consolidated Credit
Consolidated Credit is a nonprofit organization that has helped more than 10 million people overcome debt and achieve financial freedom through education, counseling, and debt management programs. For over 30 years, the organization has been a trusted resource for financial wellness nationwide.

About Nova Southeastern University

Nova Southeastern University (NSU) is the largest private research university in Florida and a top employer in the state, with more than $5 billion in projected economic impact. NSU is classified as an R1 institution by the Carnegie Foundation among universities with the highest level of research activity. NSU educates more than 22,000 enrolled students from more than 115 countries and all 50 U.S. states. NSU is a Military Friendly School, committed to meeting the needs of its active military and veteran population. It is 1 of 4 universities in the U.S. with both M.D. and D.O. colleges and is the largest educator of physicians in Florida. Research at NSU addresses such critical areas as cancer, marine life, and brain health.