Search

Financial planners seek to learn more about their clients' personalities and money scripts due to the significant influence these factors have on financial behavior and decision‐making. This study surveyed 288 adults with a personality assessment (HPTI: High Potential Trait Indicator), and their money scripts (KMSI‐R: Klontz Money Script Inventory) while controlling for demography (sex, age, and education), ideology (religious, political beliefs, and optimism), and self‐esteem (measurements of personal ratings on a variety of scales). The results indicated that each of the six traits measured by the HPTI (Conscientiousness, Adjustment, Curiosity, Risk Approach, Ambiguity Acceptance, and Competitiveness) related to the four money scripts measured by the KMSI‐R (avoidant, worship, status, and vigilance). More Adjustable individuals were less likely to have Money Avoidance scripts, whereas more Competitive people had higher Money Worship and Money Status scripts. The study underlined the role of personality variables in understanding money beliefs. [ABSTRACT FROM AUTHOR]

As soon as they are admitted to a university, most students become responsible for their own finances, but because of a lack of parental supervision, they are more inclined to spend than to manage their money. A study of first-year undergraduate accounting students was conducted to examine the effects of rational emotive behavior therapy-based coaching (REBT-based coaching) intervention on their financial literacy and money attitudes. Thirty first-year undergraduates studying accounting at Nigerian public universities participated in this two-group randomized trial. About 15 first-year undergraduate accounting students participated in the online REBT-based coaching group, while 15 first-year undergraduate accounting students participated in the face-to-face control group. A repeated measures analysis of variance was performed on the study data at.05 probability level. The study found that the online REBT-based coaching intervention significantly improved the financial literacy and money attitudes of first-year undergraduate accounting students in a similar way to face-to-face REBT-based coaching intervention. The follow-up results for the online REBT-based coaching intervention 1 month later showed a similar trend of increasing students' financial literacy and money attitude scores similar to what was observed in the face-to-face coaching group. There was no significant difference between students in the online and face-to-face modes regarding satisfaction with REBT-based coaching interventions they received. As a result of the findings, the researchers propose developing coaching approaches that can help students gain insight into their financial actions and knowledge, which will likely improve financial literacy and money attitudes in the future. [ABSTRACT FROM AUTHOR]

Objektif: Pengelolaan keuangan yang baik pada kehidupan mahasiswa rantau akan dapat berdampak pada financial well-being. Hipotesis dari penelitian ini adalah financial stress dapat berperan sebagai mediator pada hubungan antara money attitudes terhadap financial well-being. Metode: Responden pada penelitian ini adalah mahasiswa rantau yang tinggal di Surabaya berusia 17-22 tahun dan berjumlah 267 responden. Teknik pengambilan sampel menggunakan accidental sampling. Metode analisis data menggunakan PROCESS HAYES model 4. Temuan: Hasil penelitian ini menjelaskan bahwa financial stress dapat berperan sebagai mediator (parsial) dengan nilai negatif, dimana aspek power prestige dan distrust dalam money attitudes berhubungan positif dengan financial well-being. Kesimpulan: Hal ini menjelaskan bahwa mahasiswa rantau menganggap uang sebagai simbol kesuksesan, dapat memberikan kesan yang baik bagi orang lain, dan menimbulkan financial well-being serta tidak mengalami financial stress. Selain itu, kondisi ini akan sangat berdampak pada nilai akademik dan kesehatan mental para mahasiswa rantau jika mereka salah dalam mengelola keuangannya.

Background: Most of the research relates to previous major financial crises. The current coronavirus crisis is still ongoing, so the current analysis focuses primarily on people’s current preferences based on surveys.Research objectives: This work focuses on the analysis of the financial preferences of the group of people living and working in the Małopolskie Voivodeship in the last year. The choice of the form of makingpurchases, payments as well as savings and investments in the face of limitations caused by COVID-19 were analysed.Research design and methods: The adopted analytical-synthetic method is calculated to signal specific areas raising ethical doubts. Their exemplification leads to an attempt to define the key problem of modern finance, which is breaking away from the foundation of ethical values and, consequently, abandoning the common good as the social goal of all human activity.Results: The obtained results do not allow for the conclusion that in the analysed group, money attitudes significantly differentiate the financial choices of respondents during the restrictions related to COVID-19. The analysis of other factors related to the preferences of financial management allows for partial confirmation of hypothesis regarding the interest in online shopping and non-cash forms of payment has increased.Conclusions: The papers proved that the restrictions related to the coronavirus resulted in a significant increase in interest in new technologies, online shopping and modern payment methods.

Although product desire is a central force driving consumption, much remains unknown about the internal processes that contribute to consumers' desires to purchase a product. This study focuses on these internal processes and draws on elaborated intrusion theory to understand how product desire develops and is reinforced by mental elaborations. Extant theory is extended to better fit consumption contexts by introducing transformation expectations as the mediator through which elaborations impact product desire, and visualization ability is identified as an important moderator of the elaboration process. Across two surveys and two experiments, findings show that thinking about or visualizing ownership of a desired product increases expectations about transformations that will occur as a result of product acquisition. However, this result is not constant across consumers but rather occurs only for those high in visualization ability. Findings also show that the effect of elaboration on desire appears to accumulate over time, but that even a single visual elaboration serves to increase product desire among those high in visualization ability. Results also indicate that the elaboration‐desire sequence can influence consumers' willingness to take on debt to purchase a wished‐for product, especially for those with high visualization ability. [ABSTRACT FROM AUTHOR]

This paper addresses whether overindebted and non-overindebted consumers differ in their attitude toward money (specifically, the degree to which consumers care about money and feel difficulties keeping track of their money) and how this attitude impacts three different financial behavior categories: record keeping (e.g., recording spending in writing), adjusting balance (e.g., trying to find ways to decrease one’s expenses to match income), and monitoring balance (e.g., monitoring one’s spending to see if it is in line with what is expected). Overindebted consumers were recruited via an NGO for consumer defense and were categorized (whenever possible) into two subgroups: consumers who became overindebted due to internal causes (e.g., bad financial management) and consumers who became overindebted due to external causes (e.g., unemployment). Non-overindebted consumers were a convenience sample. Non-overindebted consumers showed more positive attitudes toward money than both groups of overindebted consumers and overindebted due to external causes showed more positive attitudes than overindebted consumers due to internal causes. All groups share similar financial management behaviors except for monitoring balance, which was more frequent among non-overindebted consumers. Furthermore, a regression analysis indicates that money attitudes helped explain financial behavior differences between consumers above and beyond their indebtedness status. Consumers’ attitude predicted financial behaviors, even when controlling for relevant socioeconomic variables (education, income, age, and gender). Further analyses comparing money attitudes and financial behavior for the three subgroups (non-overindebted, overindebted due to internal causes, and overindebted due to external causes) showed no differences.

This paper addresses whether overindebted and non-overindebted consumers differ in their attitude toward money (specifically, the degree to which consumers care about money and feel difficulties keeping track of their money) and how this attitude impacts three different financial behavior categories: record keeping (e.g., recording spending in writing), adjusting balance (e.g., trying to find ways to decrease one's expenses to match income), and monitoring balance (e.g., monitoring one's spending to see if it is in line with what is expected). Overindebted consumers were recruited via an NGO for consumer defense and were categorized (whenever possible) into two subgroups: consumers who became overindebted due to internal causes (e.g., bad financial management) and consumers who became overindebted due to external causes (e.g., unemployment). Non-overindebted consumers were a convenience sample. Non-overindebted consumers showed more positive attitudes toward money than both groups of overindebted consumers and overindebted due to external causes showed more positive attitudes than overindebted consumers due to internal causes. All groups share similar financial management behaviors except for monitoring balance, which was more frequent among non-overindebted consumers. Furthermore, a regression analysis indicates that money attitudes helped explain financial behavior differences between consumers above and beyond their indebtedness status. Consumers' attitude predicted financial behaviors, even when controlling for relevant socioeconomic variables (education, income, age, and gender). Further analyses comparing money attitudes and financial behavior for the three subgroups (non-overindebted, overindebted due to internal causes, and overindebted due to external causes) showed no differences. [ABSTRACT FROM AUTHOR]

Austria and Albania have substantial historical, cultural and economic differences. The purpose of this quantitative study was to compare money attitudes on the basis of the Money Attitudes Scale (MAS) between two samples of 98 Austrian and 80 Albanian students. Money attitudes and biographical data (gender, age, educational level, home university, nationality) were collected by an online questionnaire. The results were analyzed by descriptive (frequency tables, diagrams) and inferential (t-test for independent samples, effect size) statistical methods. Albanian students showed significantly stronger power and anxietyoriented money attitudes while they focused less on the timeretention money dimension. No relevant differences were found regarding the distrust dimension. Furthermore, genderrelated differences could be found. The study results thus provide a starting point for exploring and addressing the underlying causes of the identified differences. In addition, country-specific and gender-oriented business strategies (e.g. for marketing purposes) can be derived from the identified differences. [ABSTRACT FROM AUTHOR]

The purpose of this study is to investigate how investor’s money attitudes shape their stock market participation (SMP) decisions. This study followed the theory of planned behavior (TPB), and a survey was conducted to collect the responses from active investors. Structural equation modeling (SEM) was used for the analysis of proposed relationships among the constructs, and a confirmatory factor analysis (CFA) was conducted to check the interrelation of the variables and validity of the constructs. This research has concluded that investor’s money attitudes are significant to affect their stock market participation decisions. Further, it was found that risk attitudes partially mediate the relationship between money attitudes and stock market participation. Moreover, financial knowledge and financial self-efficacy positively moderated the relationship between money attitudes and stock market participation. This research is one of the early attempts at studying the money attitudes of investors and introduces financial self-efficacy as a moderating construct between money attitudes and stock market participation. The sample size for this study was 250 respondents which can be increased in future research, and the same relationships can be tested by using a larger sample. Moreover, this study has used money attitudes as predictors of stock market participation. Still, many other variables, like personal value, can also be taken to investigate their influence on stock market participation.

This paper proposes that the type of an individual's motivational forces underlies his/her willingness and ability to acquire financial literacy (FL), whose outcomes ultimately shape consumers' well-being. Specifically, we study the FL of young adults, relying on regulatory focus (RF) theory, which considers two motivational systems, namely, a prevention and a promotion system. Using a sample of 682 students from a Portuguese public university, we examine the relationship between RF and FL, considering the mediating effect of money attitudes (MA). To test the research hypotheses, we rely on structural equation modelling. The results provide support for our predictions. Prevention is negatively related to FL, and promotion is positively related to it. Moreover, prevention positively relates to power-prestige, distrust, and anxiety, and relates negatively to retention-time, whereas promotion is positively associated with retention-time and negatively with distrust. The relationship between RF and FL is partially mediated by MA. Hence, this study tests a number of novel relationships, yielding relevant policy implications. [ABSTRACT FROM AUTHOR]

The purpose of this study is to investigate how investor's money attitudes shape their stock market participation (SMP) decisions. This study followed the theory of planned behavior (TPB), and a survey was conducted to collect the responses from active investors. Structural equation modeling (SEM) was used for the analysis of proposed relationships among the constructs, and a confirmatory factor analysis (CFA) was conducted to check the interrelation of the variables and validity of the constructs. This research has concluded that investor's money attitudes are significant to affect their stock market participation decisions. Further, it was found that risk attitudes partially mediate the relationship between money attitudes and stock market participation. Moreover, financial knowledge and financial self-efficacy positively moderated the relationship between money attitudes and stock market participation. This research is one of the early attempts at studying the money attitudes of investors and introduces financial self-efficacy as a moderating construct between money attitudes and stock market participation. The sample size for this study was 250 respondents which can be increased in future research, and the same relationships can be tested by using a larger sample. Moreover, this study has used money attitudes as predictors of stock market participation. Still, many other variables, like personal value, can also be taken to investigate their influence on stock market participation. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Administrative Sciences / Yonetim Bilimleri Dergisi is the property of Canakkale Onsekiz Mart Universitesi, Terzioglu Kampusu and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Recent research suggests that agreeable individuals experience greater financial hardship than their less agreeable peers. We explore the psychological mechanisms underlying this relationship and provide evidence that it is driven by agreeable individuals considering money to be less important, but not (as previously suggested) by agreeable individuals pursuing more cooperative negotiating styles. Taking an interactionist perspective, we further hypothesize that placing little importance on money—a risk factor for money mismanagement—is more detrimental to the financial health of those agreeable individuals who lack the economic means to compensate for their predisposition. Supporting this proposition, we show that agreeableness is more strongly (and sometimes exclusively) related to financial hardship among low-income individuals. We present evidence from diverse data sources, including 2 online panels (n1 = 636, n2 = 3,155), a nationally representative survey (n3 = 4,170), objective bank account data (n4 = 549), a longitudinal cohort study (n5 = 2,429), and geographically aggregated insolvency and personality measures (n6 = 332,951, n7 = 2,468,897). [ABSTRACT FROM AUTHOR]

This article presents research examining the interrelations between gender-role identifications, people's biological sex, age as well as their beliefs and behaviors about money. The study surveyed 240 people ranged between the ages of 17 and 91 (M = 38.68, SD = 1.81). The Bulgarian adaptations of the methodologies were used: Sandra Bem's Sex-Role Inventory- (BSRI) and Adrian Furnham's Questionnaire on Beliefs and Behaviors about Money. The results obtained suggested that people with different gender-role patterns (masculine type, feminine type, androgynous type, undifferentiated type) have different beliefs and behaviors towards money. According to the results of this research, biological sex is related to the formation of attitudes and beliefs in men that money can be the main purpose and value, and be used to demonstrate excellence. The data showed that women tend to feel more tension, anxiety, and guilt when spending money, and also perceive money as a means of security and protection. The assumption that respondents from different age groups have different beliefs and attitudes about money was also confirmed. [ABSTRACT FROM AUTHOR]

Previous research in many parts of the world has linked personality traits and biographical variables to certain money-related-attitude factors, while the situation in Austria has hardly been investigated so far. The purpose of this study was to identify possible relations between personality traits, biographical variables (independent variables), and money attitude factors (dependent variables) in Austria. In this quantitative study, the NEO Five-Factor Inventory (NEO-FFI, measuring personality traits), the Money Attitude Scale (MAS, measuring money attitudes), as well as self-constructed biographical items were used. Data was collected through an online questionnaire, which was answered by 83 Austrian business education students. The results were analyzed with descriptive and inferential methods. The personality dimensions "openness to experience" and "agreeableness," as well as the biographical factor "gender," significantly influence the money attitude "power-prestige." The personality dimensions "neuroticism" and "conscientiousness" are significantly associated with the money attitude "anxiety." Thus, gender and certain personality dimensions could act as predictive factors for pronounced power-oriented or anxiety-oriented money attitudes. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to examine differences among fashion trendsetting groups in money attitudes and consumer tendency to regret (CTR). Design/methodology/approach: Students completed questionnaires containing demographic items and scales measuring money attitudes (power/prestige, quality, anxiety and distrust), CTR (CTRpurchase, CTRnot purchase) and trendsetting. Data analysis included descriptive statistics, Cronbach's α, M/ANOVA and SNK post hoc test. Findings: Participants lowest in trendsetting scored lower in power/prestige than earlier adopters. Trendsetters scored higher in quality and anxiety than later adopters. Trendsetters scored higher in CTRnot purchase but not in CTRpurchase. Participants higher (vs lower) in CTRpurchase scored higher in power/prestige, distrust and anxiety but not in quality. Participants higher (vs lower) in CTRnot purchase scored higher in power/prestige, quality and anxiety but not in distrust. Research limitations/implications: Generalization of results is limited because the college student sample was not representative of the general population of consumers. Practical implications: Many retailer sales tactics are designed to pressure consumers to buy and buy now – thus raising consumers' level of anxiety. Retailers might benefit from strategies to reduce consumers' negative emotions (e.g. anxiety, distrust) and to encourage attention to positive social or personal benefits of products. Originality/value: Results extend cognitive dissonance theory and the post-purchase evaluation model by finding differences among fashion trendsetter groups in post-purchase evaluation and money attitudes. No prior research has explored CTR and money attitudes among fashion trendsetter groups. [ABSTRACT FROM AUTHOR]

This work examines whether promoted brands and private labels attract different or similar consumers through psychographics and store image that drive purchase attitudes for these brands. The results using regression analysis demonstrate that these attitudes are driven by differences in psychographics and store image. Attitude toward promoted brands is characterised by positive store image, smart shopper self-perception, need for affiliation, and money attitude regarding power-prestige and anxiety. Private label attitude is characterised by more positive store image, and money attitude regarding retention and distrust. Noticeably, the conclusion of Ailawadi et al. (2001) regarding the indirect effect of demographics on the feasibility of using store brands and national brand promotions via psychographics appears weak, since we conclude that the impacts of demographics on the two types of purchase attitudes are weakly funneled through psychographics. [ABSTRACT FROM AUTHOR]

The current study examined the factorial structure of money attitudes and the relationship between changes in money attitudes and life satisfaction (LS) by using confirmatory factor analysis and multiple regression analysis to analyze a 2-year longitudinal database. The representative samples consisted of 906 Taiwanese adolescents in poverty. Compared with other competing models, results provided support for the five-factor structure of the adapted money attitude scale (MAS). Findings revealed that the relationship between changes in MAS power/prestige and LS was negative, whereas the association between changes in MAS quality and LS was positive. The results also showed that changes in MAS retention/time did not relate to changes in LS. The present study contributes to the understanding of the association between poor adolescents’ money attitudes and their LS in a Confucian context from the perspective of upward social comparison. The findings suggest that avoiding overemphasizing the importance of money and reducing comparison orientation may be the effective methods of improving LS for economically disadvantaged adolescents in Confucian culture. [ABSTRACT FROM AUTHOR]

The goal of this research was to examine how money attitudes and global life satisfaction relate to and predict compulsive buying among young adults. Using a Prolific Academic sample, 265 adults between the ages 18 and 25 completed the Money Attitudes Scale, Money Ethics Scale, Spendthrift‐Tightwad Scale, Satisfaction with Life Scale, and the Richmond Compulsive‐Buying Scale. As expected, motives toward saving and spending money as assessed by the Money Attitude Scale and pain of paying as assessed by the Spendthrift‐Tightwad Scale were correlated and predicted compulsive buying. However, these findings are qualified by an interaction effect such that those who held negative attitudes toward saving money and experienced little pain of paying were compulsive buyers. Theoretical and practical implications for maladaptive purchasing behavior among young adults are discussed. [ABSTRACT FROM AUTHOR]

Although it has been reflected in the literature that the satisfaction of psychological and physical needs, self-efficacy and money attitudes relate to mental health, it has not been studied whether the self-efficacy and money attitude can affect mental health through satisfaction of needs. The present study was conducted to investigate the mediating effect of Maslow's hierarchy of needs on the relationship of self-efficacy and money attitudes with mental health. This study was a survey with a correlational research design. A total of 296 participants were randomly selected through cluster sampling. The sample was administered the research instruments and the data were analyzed through correlation tests and structural equation modeling. The results revealed that self-efficacy and money attitudes were related to mental health through needs satisfaction. The individuals with higher self-efficacy and lower worry about money were found to be able to properly satisfy their needs. It was concluded that if the individuals’ needs are satisfied in a suitable time and place, their mental health will improve. [ABSTRACT FROM PUBLISHER]

Narcissism is increasingly being investigated in the context of consumer attitudes and behavior. Previous research showed that narcissism is reflected inmaterialistic tendencies andmoney-related attitudes. However, almost all of these studies concerned the grandiose type of narcissism. We examined relationships of both grandiose and vulnerable narcissism with materialism, money attitudes, and consumption preferences in a nonstudent sample. The results showed that the two types of narcissism are equally associated with materialism and a tendency to conspicuous (public) consumption. Differences between grandiose and vulnerable narcissism with regard to money attitudes were observed. Materialism mediated most of the relationships between narcissism, money attitudes, and consumption preferences, but the patterns of mediation were different for grandiose and vulnerable subtypes. Mutual suppression occurred when grandiose narcissism and materialism predicted anxiety associated with money and when vulnerable narcissism and materialism predicted money perceived as a source of evil. The results suggested that not only grandiose, but also vulnerable narcissists may be prone to excessive consumption and that this can be explained by theirmaterialistic tendencies. [ABSTRACT FROM AUTHOR]

This is an open access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. (Copyright applies to all Abstracts.)

Few contemporary, empirically-based instruments exist to assess attitudes and beliefs about money despite a large research base linking mental health outcomes to financial beliefs. An abbreviated form of the Klontz Money Script Inventory (KMSI), the Klontz Money Script Inventory-Revised (KMSI-R), has been developed to inform mental health practitioners and financial advisors about the money attitudes and beliefs of their clients using an empirically-based instrument. This study examined the technical adequacy of the KMSI-R among a sample of college students (n = 326). Results indicate high reliability for the KMSI-R as well as weak-to-moderate positive correlations when compared to the Money Attitude Scales.

Motivated perception has been shown to affect people’s estimates of money (e.g., perceiving coins as larger than real size). In the present research, we examine whether simply varying the size of a picture of money can affect its perceived value and subsequent decisions. Participants presented with a picture of money enlarged by 15% perceived the depicted money as more valuable compared with those seeing a real-size picture (Study 1). When told to imagine their own cash and banked money in the depicted form, participants presented with a picture enlarged by 15% felt more subjectively wealthy and reported fewer intentions to conserve their money compared with those seeing a real-size picture of the same money (Study 2). Together, these studies suggest that judgments about money and even attitudes toward personal spending can be influenced by manipulating the size of a picture of money. [ABSTRACT FROM AUTHOR]

Prior research has showed that the subjective perception of objective wealth might be affected by various individual difference variables, such as one's love of money, level of desires, or materialistic inclinations. This paper examines an impact of attitudes towards money on the relation between personal net income and household income, and its subjective evaluation, measured as financial satisfaction and subjective economic well-being. The results of two studies revealed that the affective dimension of money attitudes (assigning the symbolic meaning to money) partially mediated the relationship between income and financial satisfaction. Moreover, the instrumental dimension of attitude towards money (individuals' attitude toward money management) moderated this relationship: The relationship between the two was stronger for individuals highly concentrated on money management than for those with low scores on this factor. [ABSTRACT FROM AUTHOR]

Copyright of Polish Journal of Economic Psychology / Psychologia Ekonomiczna is the property of Psychologia Ekonomiczna and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose – The purpose of this study is to assess the moderating and mediating roles of credit card usage in the relationship between money attitudes (i.e. power-prestige, retention-time, distrust and anxiety) and compulsive buying behaviour. Design/methodology/approach – The research design comprised a cross-sectional survey and two focus-group interviews. A structured questionnaire was completed by 365 young credit card users in São Paulo in Brazil, and two focus group discussions were conducted comprising six participants each. Findings – Results showed that misuse of credit cards significantly increased compulsive buying among individuals with high levels of anxiety. Credit card usage partially mediates the relationship between compulsive buying and three variables established in the literature: power-prestige, retention-time and anxiety. Credit card usage did not significantly mediate the effect of distrust (or price sensitivity) on compulsive buying behaviour. Respondents’ price sensitivity did not by itself reduce levels of usage, though it did have an effect on overspending in conjunction with the other factors studied. The key themes that emerged from the focus-group interviews enhanced the survey’s results with greater in-depth understanding. Originality/value – This study was the first to compare the moderating and mediating effects among the four elements of money attitudes and compulsive buying behaviour. It addresses the issue of financial literacy, money management and overspending – a special concern for today’s emerging economies – in a Brazil, Russia, India and China (BRIC) country. [ABSTRACT FROM AUTHOR]

Compulsive buying behavior is a chronic shopping disorder. Compulsive buyers purchase products to quell feelings of anxiety and depression. Past research suggests positive relationship between money attitudes, materialism, and compulsiveness. Money attitude, materialism, and compulsiveness scales have been adapted by researchers to validate their applicability in different countries. Results have revealed new factors. These scales were used to check their validity and applicability on Indian sample. CFA findings revealed that original factors and model could not be confirmed completely on the Indian sample. The study identified new factors: three money attitude factors (power-prestige, anxiety, and price sensitivity), five materialism factors (success, status, centrality, achievement, and happiness), and compulsiveness (one factor). [ABSTRACT FROM AUTHOR]

This research was carried out with 150 working people of Karachi in order to investigate their attitudes towards money. The questionnaire was given to respondents from different organizations. Both blue collar and white collar workers were included. The data were analyzed by using explanatory variables, including gender, age, marital status, education and income. Findings indicate that the populations' money attitudes were linked to selected demographics such as education, gender and income. Also findings support the previous researches on the topic which prove that money attitudes such as power and prestige are correlated with distrust and anxiety. The results of this study are applicable to human resource, finance and marketing professionals alike. This would enable professionals in these areas to target their activities better with a substantial reduction in costs.

Understanding current and potential customers' behavior is one of the key factors of marketing efficiency and it brings competitive advantage. Companies usually classify their customers and create client groups with similar characteristic features. Such grouping activity is called segmentation or typology. There are many possible methods to obtain data for the segmentation process (e.g. data mining, demographic segmentation, analyzing shopping behavior, media behavior or their combination). This paper concentrates on the fi nancial behavior of the Czech population and brings a survey based on primary data. It takes into consideration aspects like attitude towards risk and savings and even aspects like money ethics and the role of money in society. Seven consumer segments that differ in attitudes towards money were identified and described. [ABSTRACT FROM AUTHOR]

Copyright of Polish Journal of Economic Psychology / Psychologia Ekonomiczna is the property of Psychologia Ekonomiczna and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Abstract: The risk of experiencing adverse financial events (e.g. bankruptcy) depends on the world economy and on individual differences in financial and psychological variables. Analysing data from 109,472 British survey respondents, this study reports the risks associated with financial capabilities, money attitudes, and socio-economic status for suffering negative financial outcomes. The results show that (1) socio-economic status is associated with financial capabilities but not with money attitudes; (2) money attitudes and financial capabilities are largely independent; (3) money attitudes and financial capabilities each contribute independently to the risk of experiencing adverse financial outcomes, even after adjusting for socio-economic status; and (4) financial capabilities are greater risk factors of adverse financial outcomes than money attitudes; the latter, however, are likely to be promising targets for interventions. [Copyright &y& Elsevier]

The development of two new money-attitude scales measuring entitlement and conscientiousness in adolescents are described. The scales were developed through student and focus group input and from a review of literature on entitlement and conscientiousness as a new adolescent financial education curriculum was being developed. The findings from 265 high school students resulted in a 6-item measure of entitlement, α = .76, and a 4-item measure of conscientiousness, α = .82. There was strong evidence for consistency of items for each scale loading well on single factors and maintaining reliability across a variety of demographic subgroups. The scales are distinct from, and yet complement existing money-attitude scales, such as conspicuous consumption, power-prestige, and financial prudence, and thus offer new tools for research on adolescent economic socialization. [ABSTRACT FROM AUTHOR]

Abstract: The purpose of this study was to test the relationships between financial socialization agents, financial experiences, money attitudes, demographic characteristics, and the financial literacy of Korean adolescents. Using the 2006 Korean National Financial Literacy Test Survey for Adolescents (N = 1185), a series of regression analyses were performed to determine the factors related to financial literacy. It was found that those who chose media as their primary financial socialization agent, and those who had a bank account, exhibited higher levels of financial literacy. Among the sample, those who saw money as good or as a reward for efforts tended to report higher levels of financial literacy, while those perceiving money in terms of avoidance or achievement had lower levels of financial literacy. Students with mid-range monthly allowances showed higher levels of financial literacy compared to the highest allowance group. Implications for financial educators, policy makers, and researchers are provided. [Copyright &y& Elsevier]

This study examines the "living well" aspirations of an emerging adult sample and compares them with earlier results of middle and high school samples. The tenor of emerging adult responses was more stridently extrinsic and more convincingly intrinsic than adolescent responses, revealing less middle ground as emerging adults more clearly take a position. Less than half of their responses characterized intrinsic aspirations that would use financial resources to build individuals, families, and communities. Slightly larger numbers of emerging adults expressed aspirations that were extrinsically oriented; living well was about the socially acceptable external self. Aspirations among emerging adults were more self-indulgent than those of adolescents and articulated a more nuanced perception of social image and a no worries lifestyle. Implications for parenting and financial education are discussed. [ABSTRACT FROM AUTHOR]

This study was designed to examine the relationship between gambling behaviour (gambling frequency and problem gambling severity) and financial management practices (cash management, risk management, and general management), financial management attitudes, and money attitudes (materialism, achievement, budget, obsession, and anxiety) in a sample of 118 participants (45 males, 73 females) recruited from a university. The findings revealed that gambling frequency was not significantly associated with any financial management, financial attitude, or money attitude variable but that problem gambling severity was significantly positively associated with financial management attitudes and obsession and negatively associated with budget. However, problem gambling severity scores were no longer significantly correlated with these factors after controlling for demographic and socio-economic factors. It was concluded that future research evaluating multiple dimensions of practices and attitudes with reliable and valid standardised instruments in large community or clinical samples is required in order to design cognitive interventions for problem gambling that facilitate changes in general beliefs about the importance of money. [ABSTRACT FROM AUTHOR]

Studies attempting to identify the specific ‘addictive’ features of electronic gaming machines (EGMs) have yielded largely inconclusive results, suggesting that it is the interaction between a gambler’s cognitions and the machine, rather than the machine itself, which fuels excessive play. Research has reported that machine players with gambling problems adopt a number of erroneous cognitive perceptions regarding the probability of winning and the nature of randomness. What is unknown, however, is whether motivations for gambling and attitudes toward pre-session monetary limit-setting vary across levels of gambling severity, and whether proposed precommitment strategies would be useful in minimizing excessive gambling expenditures. The current study explored these concepts in a sample of 127 adults, ages 18 to 81, attending one of four gambling venues in Queensland, Australia. The study found that problem gamblers were more likely than other gamblers to play machines to earn income or escape their problems rather than for fun and enjoyment. Similarly, they were less likely to endorse any type of monetary limit-setting prior to play. They were also reticent to adopt the use of a ‘smart card’ or other strategy to limit access to money during a session, though they indicated they lost track of money while gambling and were rarely aware of whether they were winning or losing during play. Implications for precommitment policies and further research are discussed. [ABSTRACT FROM AUTHOR]

The study examined the determinants of financial problems and dissatisfaction and the degree to which experiencing financial problems and dissatisfaction influenced attitudes towards financial counseling in a sample of 400 young male Australian workers. Financial management practices and money attitudes significantly predicted financial problems. Financial management practices, money attitudes, and financial problems also significantly predicted financial satisfaction. There was no significant relationship between financial problems and dissatisfaction and financial counseling attitudes. These findings highlight the need for financial education initiatives for young male workers to be directed at facilitating changes in financial management practices and money attitudes and educational efforts to increase the social acceptability of seeking professional financial assistance for young male workers with financial problems. [ABSTRACT FROM AUTHOR]

High school student aspirations about living well (N = 190) were compared to those of middle school respondents (N = 187). Building on the concepts of intrinsic and extrinsic aspirations, the middle school Variable Concept Indicator Model was expanded to reflect high school aspirations. Gender differences and developmental changes in the aspirations between middle school and high school students were evident. Male students became decidedly more extrinsic while the aspirations of their female counterparts grew to be more intrinsic. In both samples extrinsic adolescents were highly unrealistic about the true cost of expensive personal possessions, making them vulnerable to unsound financial practices and strained interpersonal relationships. When student and client aspirations are addressed educational and practitioner interventions may be more successful. [ABSTRACT FROM AUTHOR]

Abstract: In a sample of 139 community residents, attitudes toward money and credit cards were found to be associated with a measure of prefrontal cortex dysfunction (FrSBe), even after controls for age, sex, education and income. The results provide support for a neuroeconomic approach to the study of economic behavior. [Copyright &y& Elsevier]

People may fill currencies with moral and emotional meanings and become attached to currencies in a similar way that they are attached to a brand. Such meanings and affective attachments to a currency may result in people’s resistance to proposed currency changes as well as playing a significant role in everyday consumer behaviour. Following Tajfel’s accentuation theory, it is shown in two studies that (1) opinions that prices in a currency (labelled an “expensive currency”) are high result in perception of prices in this currency as higher than prices in another currency, and that (2) positive affect attached to a currency results in perception of prices in this currency being higher than prices expressed in a currency which is not emotionally laden. [ABSTRACT FROM AUTHOR]