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Our Everyday Emotions and Finances – The role money-related attitudes and materialistic orienta-tion play in developing financial culture

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  • Zsótér, Boglárka
  • Nagy, Péter

Abstract

Today’s economic and financial crisis calls for radical changes in the financial culture and consumption patterns we have had until now. Although it is regarded a young democracy, Hungary has previously made numerous top-down attempts to develop financial skills and to keep materialistic values at a healthy level. Those attempts, however, have met with little success as they failed to further broaden and strengthen the population’s financial culture. This study aims to analyse the phenomenon from the viewpoint of consumer socialisation through its two important components, i.e. the concepts of attitude to money and of materialistic orien-tation. Interestingly, the latest research has highlighted the role of emotions in financial behaviour. Based on that research work, we make a number of recommendations and emphasise that Hungarian financial culture cannot be developed without taking into con-sideration the specificities of emotional life and emotional control.

Suggested Citation

  • Zsótér, Boglárka & Nagy, Péter, 2012. "Our Everyday Emotions and Finances – The role money-related attitudes and materialistic orienta-tion play in developing financial culture," Public Finance Quarterly, Corvinus University of Budapest, vol. 57(3), pages 286-297.
    • Handle: RePEc:pfq:journl:v:57:y:2012:i:3:p:286-297
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    File URL: https://unipub.lib.uni-corvinus.hu/8978/
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    References listed on IDEAS

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    Cited by:

    1. Boglarka Zsoter & Erzsebet Nemeth, 2018. "Characterisation of Young People According to Their Financial Attitudes and Behaviours - A Survey on the Financial Behaviour and Attitudes of Students in Higher Education," Applied Finance and Accounting, Redfame publishing, vol. 4(1), pages 31-40, February.
    2. Boglárka Zsótér, 2018. "The Aspects Of Financial Culture Among Young Adults," Ekonomske ideje i praksa, Faculty of Economics and Business, University of Belgrade, issue 30, pages 51-71, September.

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    More about this item

    Keywords

    onsumer socialisation; financial culture; attitudes to money; materialistic orientation; emotional control;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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