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Personality, ideology, and money attitudes as correlates of financial literacy and competence

Fenton-O'Creevy, Mark and Furnham, Adrian (2019). Personality, ideology, and money attitudes as correlates of financial literacy and competence. Financial Planning Review (Early Access).

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DOI (Digital Object Identifier) Link: https://doi.org/10.1002/cfp2.1070
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Abstract

This study looked at whether demographics, religious beliefs, political orientation,personality traits, and money attitudes are correlates of financial capability, knowledge and distress. Over 3,500 British participants completed multiple measures online. As hypothesized, demographics, religious beliefs, political orientation, personality traits, and money attitudes each explained unique variance in financial capability, financial knowledge, and financial distress. Regression and correlational results showed demographic factors particularly age, education, and income were significantly related to all criteria variables. Money attitudes explained additional variance in financial capability and distress beyond that explained by demography, ideology, and personality. Trait conscientiousness,money as security attitude, age, and income were most strongly correlated with financial capability and financial distress.

Item Type: Journal Item
Copyright Holders: 2019 Certified Financial Planner Board of Standards Inc.
ISSN: 2573-8615
Project Funding Details:
Funded Project NameProject IDFunding Body
Not SetNot SetFriends Provident Foundation
Keywords: finance; ideology; money; pathology; personality
Academic Unit/School: Faculty of Business and Law (FBL) > Business > Department for People and Organisations
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL)
Item ID: 68621
Depositing User: Mark Fenton-O'Creevy
Date Deposited: 23 Dec 2019 09:54
Last Modified: 14 Jun 2020 04:33
URI: http://oro.open.ac.uk/id/eprint/68621
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