College Students' Money Beliefs and Behaviors: An Asian Perspective |
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| Authors: | Diane M. Masuo Y. Lakshmi Malroutu Rieko Hanashiro Jung Hoon Kim |
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| Affiliation: | (1) Department of Family and Consumer Sciences, University of Hawai`i at Manoa, 2515 Campus Road, Honolulu, HI 96822, USA;(2) Department of Family and Consumer Sciences, California State University, Sacramento, 6000 J Street, Sacramento, CA 95819, USA;(3) University of the Ryukyus, Faculty of Education, 1 Senbaru Nishihara, Okinawa, Japan, 903-0213;(4) Wonkwang University, Iksan, Korea |
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| Abstract: | The multidimensionality of money was investigated, using exploratory factor analysis (EFA). The respondents, 290 college students from Korea, Japan, and the United States, were administered a survey, which included socio-demographic questions, and Furnham's (1984) Money Beliefs and Behaviors (MBBS) Scale. Through a series of principal components analyses, a three-factor model with 10 MBBS items was identified. The three factors, Power, Security, and Financial Modesty accounted for 53.6% of the variance. The findings have implications for college students and financial management practitioners. |
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| Keywords: | Asian college students factor analysis money beliefs money behaviors |
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