Attitudes to money in a random sample of adults: Factor analysis of the MAS and MBBS scales, and correlations with demographic variables
A factor analysis of the two major scales measuring attitudes toward money (Yamauchi and Templer's MAS, and Furnham's MBBS), using a random sample of 200 adults in a large Canadian city, showed the MAS to be remarkably invariant in its factor structure: power-prestige, planning-saving, frugality-distrust, and anxiety seem to be the four most important underlying dimensions of attitudes and reported behaviors. The MBBS did not replicate: the original factors did not emerge, and other analyses did not yield interpretable results. A factor analysis of items from the MAS and MBBS combined produced a reliable and meaningful four-factor solution nearly identical to the MAS scale. Correlations with age, sex, income, and education were mostly consistent with previous research: income was negatively correlated with frugality and anxiety, and positively related to planning. Age had the strongest correlations with the four factors.
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Volume (Year): 37 (2008)
Issue (Month): 5 (October)
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- 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.
- Epley, Nicholas & Gneezy, Ayelet, 2007. "The framing of financial windfalls and implications for public policy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(1), pages 36-47, February.
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