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Compulsive buying tendencies and personal finances.
Marcello Spinella1, David Lester, Bijou Yang
11 The Richard Stockton College of New Jersey.
Psychological Reports
|December 3, 2014
Summary
Compulsive buying tendencies in adults may not be pathological. Instead, they are linked to general money attitudes and financial management habits, according to a study on compulsive buying behavior.
Area of Science:
- Psychology
- Behavioral Economics
Background:
- Compulsive buying is a behavior that can significantly impact financial well-being.
- Understanding the psychological and financial correlates of compulsive buying is crucial for intervention.
Purpose of the Study:
- To investigate the association between compulsive buying tendencies and financial management habits.
- To explore the relationship between compulsive buying and attitudes toward money.
Main Methods:
- A community sample of 225 adults participated in the study.
- Participants completed the Compulsive Buying Scale, the Executive Personal Finance Scale, and the Money Attitudes Scale.
Main Results:
- Compulsive buying scores showed significant negative correlations with executive personal finance subscales (rs = -.35 to -.70).
- Compulsive buying was positively associated with using money to impress others and negatively with saving and financial planning.
Conclusions:
- Common compulsive buying tendencies may not necessarily be pathological.
- These behaviors are associated with general attitudes toward money and personal financial management skills.
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