IDEAS home Printed from https://ideas.repec.org/a/eee/joepsy/v33y2012i3p461-470.html
   My bibliography  Save this article

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

Author

Listed:
  • Pham, Thi H.
  • Yap, Keong
  • Dowling, Nicki A.

Abstract

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.

Suggested Citation

  • Pham, Thi H. & Yap, Keong & Dowling, Nicki A., 2012. "The impact of financial management practices and financial attitudes on the relationship between materialism and compulsive buying," Journal of Economic Psychology, Elsevier, vol. 33(3), pages 461-470.
  • Handle: RePEc:eee:joepsy:v:33:y:2012:i:3:p:461-470 DOI: 10.1016/j.joep.2011.12.007
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0167487011001930
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Richins, Marsha L, 1994. " Special Possessions and the Expression of Material Values," Journal of Consumer Research, Oxford University Press, vol. 21(3), pages 522-533, December.
    2. 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.
    3. Rindfleisch, Aric & Burroughs, James E & Denton, Frank, 1997. " Family Structure, Materialism, and Compulsive Consumption," Journal of Consumer Research, Oxford University Press, vol. 23(4), pages 312-325, March.
    4. Rook, Dennis W & Fisher, Robert J, 1995. " Normative Influences on Impulsive Buying Behavior," Journal of Consumer Research, Oxford University Press, vol. 22(3), pages 305-313, December.
    5. 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.
    6. 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.
    7. Faber, Ronald J & O'Guinn, Thomas C, 1992. " A Clinical Screener for Compulsive Buying," Journal of Consumer Research, Oxford University Press, vol. 19(3), pages 459-469, December.
    8. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Brown, Sarah & Taylor, Karl, 2014. "Household finances and the ‘Big Five’ personality traits," Journal of Economic Psychology, Elsevier, pages 197-212.
    2. Miron Vasile Cristian Ioachim & Focsan Eleonora Ionela & Bota Cristian Florin, 2016. "Financial Resources Management And The Impact On The Financial Position Of The Entities In The Romanian Energy Sector," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 306-311, June.
    3. Nepomuceno, Marcelo Vinhal & Laroche, Michel, 2015. "The impact of materialism and anti-consumption lifestyles on personal debt and account balances," Journal of Business Research, Elsevier, vol. 68(3), pages 654-664.
    4. Mittal, Banwari, 2015. "Self-concept clarity: Exploring its role in consumer behavior," Journal of Economic Psychology, Elsevier, vol. 46(C), pages 98-110.
    5. Donnelly, Grant & Iyer, Ravi & Howell, Ryan T., 2012. "The Big Five personality traits, material values, and financial well-being of self-described money managers," Journal of Economic Psychology, Elsevier, vol. 33(6), pages 1129-1142.
    6. Donnelly, Grant & Ksendzova, Masha & Howell, Ryan T., 2013. "Sadness, identity, and plastic in over-shopping: The interplay of materialism, poor credit management, and emotional buying motives in predicting compulsive buying," Journal of Economic Psychology, Elsevier, vol. 39(C), pages 113-125.
    7. Horváth, Csilla & Büttner, Oliver B. & Belei, Nina & Adıgüzel, Feray, 2015. "Balancing the balance: Self-control mechanisms and compulsive buying," Journal of Economic Psychology, Elsevier, vol. 49(C), pages 120-132.

    More about this item

    Keywords

    Compulsive buying; Materialism; Financial attitudes; Financial management practices; Cognitive-behavioral therapy;

    JEL classification:

    • P46 - Economic Systems - - Other Economic Systems - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:joepsy:v:33:y:2012:i:3:p:461-470. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/locate/joep .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.