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

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  • 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
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    Cited by:

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    4. 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.
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    6. Alexander Davidson & Marcelo Vinhal Nepomuceno & Michel Laroche, 2019. "Shame on You: When Materialism Leads to Purchase Intentions Toward Counterfeit Products," Journal of Business Ethics, Springer, vol. 155(2), pages 479-494, March.
    7. 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.
    8. 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.
    9. 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.
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    More about this item

    Keywords

    Compulsive buying; Materialism; Financial attitudes; Financial management practices; Cognitive-behavioral therapy;
    All these keywords.

    JEL classification:

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

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