The relationship of materialism to spending tendencies, saving, and debt

Abstract

This study is a response to the Richins and Rudmin [J. Econ. Psychol. 15 (1994) 217–231] call for work examining the relationship between materialism and aspects of economic psychology. The research was designed to investigate how people with differing levels of materialism vary in their propensity to spend and/or save and their attitudes and behaviors toward borrowing money. The results indicate that highly materialistic people are more likely to view themselves as spenders and have more favorable attitudes toward borrowing. These differences were evident in behavioral measures, although the differences were strongest for behaviors related to debt rather than saving. The implications of these findings for establishing a more comprehensive view of materialism in modern society are discussed.