Attitudes Toward Money Essay

Attitudes Toward Money Essay-56
When estimating a model of indebtedness, one demographic variable (age), one psychological variable (attitude toward debt), and one economic behavior (entertainment) were significant.

When estimating a model of indebtedness, one demographic variable (age), one psychological variable (attitude toward debt), and one economic behavior (entertainment) were significant.Materialism was not a significant variable in the final regression equation for indebtedness.H2: Materialism will serve as a significant predictor in models of indebtedness.

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INTRODUCTION Materialism has been defined as the centrality of possession and acquisition in consumers’ lives (Richins and Dawson 1992).

Materialists have consistently been characterised as excessive consumers who are constantly looking toward their next purchase (Fournier and Richins 1991; Belk 1985; Richins and Dawson 1992); they relentlessly pursue material wealth and are acquisitive by nature (Belk 1985).

Others have used consumer attitudes (Awh and Waters 1974; Livingstone and Lunt 1993) and/or demographic variables (Srivastava, Alpert, and Shocker 1984; Lunt and Livingstone 1992) to explain differences between people in debt and people not in det.

HYPOTHESES The previous discussion is summarized in the following hypotheses: H1: In comparison to people with low levels of materialism, people with high levels of materialism are more likely to (a) be "spenders," (b) have positive attitudes toward debt, and (c) have larger amounts of debt.

Since acquisition most often involves spending, i has been suggested that research and theoretical models concerning debt would profit from the inclusion of materialism as a variable (Richins and Rudmin 1994).

Current models of debt have included attitudinal variables (e.g., Lea, Webley, and Levine 1993; Lunt and Livingstone 1991) as well as sociodemographic variables (Davies and Lea 1995), but to date, few studies have examined the relationship between materialism and debt.When estimating a model of indebtedness, one demographic variable (age), one psychological variable (attitude toward debt), and one economic behavior (entertainment) were significant. Wesley Hutchinson, Provo, UT : Association for Consumer Research, Pages: 203-207. Sim for their contributions in the collection and preliminary analyses of the data.] ABSTRACT - This research was designed to examine the relationships among materialistic values, attitudes toward debt, and level of indebtedness.Materialism was not a significant variable in the final regression equation for indebtedness. Watson (1998) ,"Materialism and Debt: a Study of Current Attitudes and Behaviors", in NA - Advances in Consumer Research Volume 25, eds. [This research was supported by the University of Canterbury, Grant 2313996. The findings indicate that people with high levels of materialism have more positive attitudes toward spending and debt; however, there was not a significant relationship between materialism and actual debt levels.Duesenberry proposed a theory that included social comparison as a central process in consumption decisions.He suggested that people consumed goods according to their perceptions of what was normal for their reference group.Data Collection The data were collected over a 2-week period in September, 1996.The sample was drawn from three separate sources: 1. Students were approached in their rooms and asked to fill out a questionnaire, which was collected upon completion. Second year students were given a questionnaire at the conclusion of an introductory marketing lecture.In order for people with high levels of materialism to satisfy their strong acquisitive desires, they may be more willing to take on debt (Richins and Rudmin 1994) and may therefore be more likely to have a positive attitude towards debt than non-materialistic people.This hypothesis is also supported by Duesenberry’s (1949) theory of consumption.Consequently, if individuals had a high income relative to their reference group, they would be likely to save the surplus; if they had a relatively low income, they would be likely to accrue debts (WSrneryd 1989).With respect to materialism, Richins (1992) has suggested that people with high levels of materialism use people from a higher socioeconomic status (i.e., upward comparison) as referents.

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