What is it about?
We challenge the assumption that materialism leads to the dark side of people's financial dream. We explore the relationship between materialism and financial satisfaction by incorporating love of money as a mediator. Only “limited” consumers manage their money successfully, reach their financial goals, and enjoy the “bright side” of the financial dream.
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Why is it important?
Here is the Matthew Effect from the Bible: “To anyone who has, more will be given and he will grow rich; from anyone who has not, even what he has will be taken away” (Matthew 13: 12).
Perspectives
Materialism is related to the dark side of the financial dream for some (the 30–44-year-old age group, rural residents, and married citizens), but to the bright side for others (urban dwellers, people in the 45–59-year-old age group, and males). Old citizens (60+), unmarried people, urban residents, young people (18–29), and females have the highest overall financial satisfaction. The Matthew Effect creates the rich get richer and the poor get poorer effect. People must management their money carefully.
Thomas Tang
Middle Tennessee State University
Read the Original
This page is a summary of: Materialism and the Bright and Dark Sides of the Financial Dream in Spain: The Positive Role of Money Attitudes-The Matthew Effect, Applied Psychology, November 2012, Wiley,
DOI: 10.1111/j.1464-0597.2012.00533.x.
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