Exploring the Relationships Between Money, Attitudes, Gender.
EXPLORING THE RELATIONSHIP BETWEEN MONEY ATTITUDES AND MASLOW’S HIERARCHY OF NEEDS
This study explores the relationship between basic human needs and money attitudes in a university- age cohort utilizing Maslow’s theory of hierarchical needs. The purpose of this study is to explore the differences in attitudes towards money in relationship to the satisfaction of needs. The data for this study were obtained from a questionnaire completed by 338 non- traditional students, 120 male and 215 female at a western US state university. The questionnaire was designed to measure the degree to which the five basic needs described by Maslow are achieved.
The first question asked was Do men and women have different money attitudes? Of the seven correlations, four were statistically significant at the P< 0.05 level. The strongest relationships exist between budget and achievement with 0.15 being the highest score. Although the relationships are weak, the positive correlations indicate that on the average, men are statistically more likely than women to score higher on money attitudes of obsession, power, budget and achievement.
(DIAGRAM)
Men are more likely to be concerned about obsession, power, achievement, evaluation and anxiety, while women were more likely to share attitudes of budget and retention. The only differences that exist with this study are that men are more likely to score higher on the money attitude of budget and women tend to score higher on the anxiety money attitude. Research question two was whether there is a relationship between money attitudes and needs? Regression results show apparent links between money attitudes and needs for both men and women. Money attitudes were found to be most related to safety and esteem needs (sharing 23.3% and 24.1% variance respectively) and least related to physiological (15.9%), love (14.1%) and actualization (12.8%).
Hence, based on the findings, it can be concluded that statistically significant gender
This study explores the relationship between basic human needs and money attitudes in a university- age cohort utilizing Maslow’s theory of hierarchical needs. The purpose of this study is to explore the differences in attitudes towards money in relationship to the satisfaction of needs. The data for this study were obtained from a questionnaire completed by 338 non- traditional students, 120 male and 215 female at a western US state university. The questionnaire was designed to measure the degree to which the five basic needs described by Maslow are achieved.
The first question asked was Do men and women have different money attitudes? Of the seven correlations, four were statistically significant at the P< 0.05 level. The strongest relationships exist between budget and achievement with 0.15 being the highest score. Although the relationships are weak, the positive correlations indicate that on the average, men are statistically more likely than women to score higher on money attitudes of obsession, power, budget and achievement.
(DIAGRAM)
Men are more likely to be concerned about obsession, power, achievement, evaluation and anxiety, while women were more likely to share attitudes of budget and retention. The only differences that exist with this study are that men are more likely to score higher on the money attitude of budget and women tend to score higher on the anxiety money attitude. Research question two was whether there is a relationship between money attitudes and needs? Regression results show apparent links between money attitudes and needs for both men and women. Money attitudes were found to be most related to safety and esteem needs (sharing 23.3% and 24.1% variance respectively) and least related to physiological (15.9%), love (14.1%) and actualization (12.8%).
Hence, based on the findings, it can be concluded that statistically significant gender