Money attitudes, financial capabilities, and impulsiveness as predictors of wealth accumulation.

ABSTRACT: In this study we examined three correlates of personal wealth-financial capability, buying impulsiveness, and attitudes to money in a large UK adult sample (N = 90,184). We were interested in how these psychological variables related to personal wealth controlling for well-established demographic correlates: age, education, gender, and household income. We drew on three personal wealth variables based on savings and investments, property wealth and personal items. Using correlational and regression analysis we tested three specific hypotheses which each received support. Our variables accounted for around half the variance with respect to property value, and two thirds with respect to investments. The hierarchical regression onto the savings and investment factor showed two thirds of the v

SUBMITTER: Fenton-O'Creevy M 

PROVIDER: S-EPMC9678286 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature