HUMAN VALUES AND ATTITUDES TOWARDS MONEY
DOI:
https://doi.org/10.17770/sie2018vol7.3433Keywords:
attitudes, attitudes towards money, human values, financial behaviorAbstract
Spending money which is not earned becomes more available practice with help of the various types of cash loans. It causes social problem in society because easiness of getting money puts families at risk due to the high loan percent. Our study aims to understand ifhuman values are related to attitudes towards money and in what way if any.Values are motivational constructs that apply to abstract goals (Schwartz, 1992). Schwartz believes that the main aspect of value contents is the type of goal or the motivation it expresses (Schwartz, 1992). Also, values are abstract goals and do not effect decisions in specific situations they can work as the underlying assumptions for creating attitudes. Attitudes are more situation-specific and correlate with behavior at moderate level. In our study values were measured using Portrait Values Questionnaire, PVQ-21 (Schwartz, Melech, Lehmann, Burgess, & Harris, 2001). Attitudes towards money were measured using modified version of Money Attitude Scale (Yamauchi & Templer, 1982). Question regarding money related behavior were also asked. We surveyed one thousand and five respondents from whom 58% were female, all age groups where presented according to Latvia’s population (representative sample). Results reveal that values correlate with attitudes towards money although modestly.References
Ajzen, I., &Fishbein, M. (2005). The influence of attitudes on behavior. In D. Albarracín, B. T. Johnson, & M. P. Zanna (Eds.), The handbook of attitudes (pp. 173-221). Mahwah, NJ: Erlbaum.
Albarracín, D., Wang, W., Li, H., & Noguchi, K. (2008). Structure of attitudes. Judgements, memory, and implications for change. In W.D.Crano&R.Prislin (Eds.), Attitudes and Attitude Change, (pp. 19-39). New York: Psychology Press.
Bardi, A., & Schwartz, S.H. (2003). Values and Behavior: strength and structure of relations. Personality and Social Psychology Bulletin, 29, 1207-1220.
Brad K., Sonya L. B. Jennifer M. & Ted K., (2011). Money Beliefs and Financial Behaviors: Development of the Klontz Money Script Inventory. Journal of Financial Therapy Association 2 (1) 1. https://doi.org/10.4148/jft.v2i1.451
Dreezens, E., Martijn, C., Tenbült, P., Kok, G., & K de Vries, N. (2005). Food and values: an examination of values underlying attitudes toward genetically modified- and organically grown food products. Appetite, 44, 115-122.
Engelberg, E., &Sjoberg, L. (2006). Money attitudes and emotional intelligence. Journal of Applied Social Psychology, 36(8), 2027–2047.
Eyal, T., Sagristano, M.D., Trope, Y., Liberman, N., &Chaiken, S. (2009). When values matter: expressing values in behavioral intentions for the near vs. distal future. Journal of Experimental Social Psychology, 45, 35-43.
Farid, M., & Lazarus, H. (2008). Subjective well‐being in rich and poor countries,
Journal of Management Development, 27 (10), 1053-1065.
Fazio, R.H., Blascovich, J., & Driscoll, D.M. (1992). On the functional value of attitudes: the influence of accessible attitudes on the ease and quality of decision making. Personality and Social Psychology Bulletin, 18, 388-401.
Feather, N.T. (1980). Values, achievment, and justice: studies in the psychology of deservingness. Springer.
Furnham, A. (1984). Many sides of the coin: the psychology of money usage. Personality and Individual Differences, 5, 501–509.
Furnham, A., (1996). Attitudinal correlates and demographic predictors of monetary beliefs and behaviors, Journal of Organizational Behavior, 17, 373-88.
Gregory, G.D., Munch, J.M., & Peterson, M. (2002). Attitude functions in consumer research: comparing value-attitude relations in individualist and collectivist cultures. Journal of Business Research, 55, 933-942.
Maio, G. R., & Olson, J. M. (1994). Value-attitude-behaviour relations: The moderating role of attitude function. BritishJournal of Social Psychology, 33, 301-312.
Maio, G.R., Pakizeh, A., Cheung, W.Y., & Rees, K.J. (2009). Changing, priming, and acting on values: effects via motivational relations in a circular model. Journal of Personality and Social Psychology, 97(4), 699-715.
Manstead, A.S.R. (2004). Attitude threory and research. In A.S.R. Manstead and M.Hewstone (Eds.) The Blackwell Encyclopedia of Social Psychology, (pp. 47 -52). Blackwell Publishing.
Nga, K.H. &Yeoh, K.K. (2015). Affective, Social and Cognitive Antecedents of Attitude towards Money among Undergraduate Students: A Malaysian Study. Pertanika Journal of Social Sciences & Humanities. Special issue, 23, 161–179.
Pakizeh, A., Gebauer, J.E., &Maio, G.R. (2009). Basic human values: inter-value structure in memory. Journal of Experimental Social Psychology, 43, 458-465.
Rimple, M. T. (2012). Money attitude – an abridgement. Journal of Arts, Science &commerce, 3(3), 94–98.
Schwartz, S. H. (1992). Universals in the content and structure of values: Theory and empirical tests in 20 countries. In M. Zanna (Ed.), Advances in experimental socialpsychology, 25, (pp.1-65). New York: Academic Press.
Schwartz, S. H.(2017). Individual Values accross Cultures. In A.T. Church (Ed.), ThePraeger Handbook of Personality across Cultures.
Sundarasen, S. D. & Rahman, M. S. (2017). Attitude towards money: mediation to money management. Academy of Accounting & Financial Studies Journal, 21(1), 1–17.
Torelli, C.J., &Kaikati, A.M. (2009). Values as predictors of judgments and behaviors: The role of abstract and concrete mindsets. Journal of Personality and Social Psychology, 96, 1, 231-247.
Yamauchi, K.T.&Templer, D.I. (1982). The development of a money attitude scale. Journal of Personality Assessment, 46(1), 522–8.
Zanna, M.P., &Rempel, J.K. (1988). Attitudes: A new look at an old concept. In D. Bar-Tal &A.W.Kruglanski (eds.) The social psychology of knowledge (pp. 315-334). New York: Cambridge University Press.
Zhao, X. (2001). Meanings of money is nurtured by nature. The American Behavioural Scientist, 45(2), 329–351.
Downloads
Published
Issue
Section
How to Cite
