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The Relationship of Income And Money Attitudes To Subjective Assessment of Financial Situation

Gąsiorowska, Agata (2008): The Relationship of Income And Money Attitudes To Subjective Assessment of Financial Situation. Published in: Selected Proceedings of the IAREP/SABE 2008 Conference at LUISS in Rome (4. September 2008)

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Abstract

This paper examines a model of economic status satisfaction (money satisfaction) that controls attitudes toward money, income level and gender. Money attitudes were measured with SPP scale (Gąsiorowska, 2003), fully developed in Polish environment, and better adjusted to Polish conditions than other money attitudes scales. In the first study, path analysis showed that gender is the strong moderator of money attitudes - money satisfaction relationship. Money attitudes presented by females do not influence significantly their economic status satisfaction, while in case of males, financial anxiety and power connected with money explained 13% of variance of dependent variable. In the second study, in addition to the previous, income data were also collected. In the group of females, income was found to be a better predictor of financial situation assessment than money attitudes, and the anxiety dimension of money attitudes was slightly mediating income - financial situation relationship. In the group of males, the effect of money attitudes in predicting financial assessment is primarily additive to the effect of income.

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