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Furnham's Money Attitude Scale
1Department of Economics and International Business, Bennett S. LeBow College of Business, Drexel University, Philadelphia, PA 19104, USA.
Psychological Reports
|June 14, 2002
Summary
An item analysis of the Money Attitude Scale using 186 undergraduates did not confirm Furnham's original factor structure. This suggests the scale may not accurately measure money attitudes in this student population.
Area of Science:
- Psychology
- Economic Psychology
Background:
- The Money Attitude Scale (MAS) by Furnham is a key instrument for assessing financial beliefs.
- Previous research has established a specific factor pattern for the MAS.
Purpose of the Study:
- To conduct an item analysis of the MAS in a new sample.
- To determine if the original factor pattern derived by Furnham could be replicated.
Main Methods:
- Item-analysis was performed on responses from 186 undergraduate students.
- Statistical methods were used to evaluate the factor structure of the MAS.
Main Results:
- The factor pattern identified in the undergraduate sample did not match Furnham's original derivation.
- The replication of the MAS factor structure failed.
Conclusions:
- The findings question the generalizability of Furnham's MAS factor structure.
- Further validation studies are needed to confirm the MAS's psychometric properties across diverse populations.