publication . Article . 2013

Financial capability, money attitudes and socioeconomic status: risks for experiencing adverse financial events

von Stumm, Sophie; Fenton-O'Creevy, Mark; Furnham, Adrian;
Open Access
  • Published: 01 Feb 2013 Journal: Personality and Individual Differences, volume 54, pages 344-349 (issn: 0191-8869, Copyright policy)
  • Publisher: Elsevier BV
Abstract
The risk of experiencing adverse financial events (e.g. bankruptcy) depends on the world economy and on individual differences in financial and psychological variables. Analysing data from 109,472 British survey respondents, this study reports the risks associated with financial capabilities, money attitudes, and socio-economic status for suffering negative financial outcomes. The results show that (1) socio-economic status is associated with financial capabilities but not with money attitudes; (2) money attitudes and financial capabilities are largely independent; (3) money attitudes and financial capabilities each contribute independently to the risk of experi...
Subjects
free text keywords: Financial risk, World economy, Bankruptcy, Socioeconomic status, Psychological intervention, Finance, business.industry, business, Psychology
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