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The impact of financial management practices and financial attitudes on the relationship between materialism and compulsive buying

  • Pham, Thi H.
  • Yap, Keong
  • Dowling, Nicki A.
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    Although materialism has a robust relationship with compulsive buying, psychological theories also suggest that financial attitudes and financial management practices would significantly predict compulsive buying severity even after controlling for materialism. We also expected that financial attitudes and financial management practices would moderate the relationship between materialism and compulsive buying. Results partially supported our hypotheses. Financial management practices, but not financial attitudes, significantly predicted compulsive buying severity after controlling for materialism. In addition, financial management practices, but not financial attitudes, significantly moderated the relationship between materialism and compulsive buying severity. These findings support the inclusion of financial management components in current psychosocial interventions and indicate that highly materialistic individuals with poor financial management practices are particularly prone to compulsive buying problems. Further implications and suggestions for future research are discussed.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0167487011001930
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    Article provided by Elsevier in its journal Journal of Economic Psychology.

    Volume (Year): 33 (2012)
    Issue (Month): 3 ()
    Pages: 461-470

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    Handle: RePEc:eee:joepsy:v:33:y:2012:i:3:p:461-470
    Contact details of provider: Web page: http://www.elsevier.com/locate/joep

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    1. Lim, Vivien K. G. & Teo, Thompson S. H., 1997. "Sex, money and financial hardship: An empirical study of attitudes towards money among undergraduates in Singapore," Journal of Economic Psychology, Elsevier, vol. 18(4), pages 369-386, June.
    2. Rook, Dennis W & Fisher, Robert J, 1995. " Normative Influences on Impulsive Buying Behavior," Journal of Consumer Research, University of Chicago Press, vol. 22(3), pages 305-13, December.
    3. Richins, Marsha L, 1994. " Special Possessions and the Expression of Material Values," Journal of Consumer Research, University of Chicago Press, vol. 21(3), pages 522-33, December.
    4. Watson, John J., 2003. "The relationship of materialism to spending tendencies, saving, and debt," Journal of Economic Psychology, Elsevier, vol. 24(6), pages 723-739, December.
    5. Hanley, Alice & Wilhelm, Mari S., 1992. "Compulsive buying: An exploration into self-esteem and money attitudes," Journal of Economic Psychology, Elsevier, vol. 13(1), pages 5-18, March.
    6. Rindfleisch, Aric & Burroughs, James E & Denton, Frank, 1997. " Family Structure, Materialism, and Compulsive Consumption," Journal of Consumer Research, University of Chicago Press, vol. 23(4), pages 312-25, March.
    7. Faber, Ronald J & O'Guinn, Thomas C, 1992. " A Clinical Screener for Compulsive Buying," Journal of Consumer Research, University of Chicago Press, vol. 19(3), pages 459-69, December.
    8. Lo, Hui-Yi & Harvey, Nigel, 2011. "Shopping without pain: Compulsive buying and the effects of credit card availability in Europe and the Far East," Journal of Economic Psychology, Elsevier, vol. 32(1), pages 79-92, February.
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