Personality traits, biographical variables and attitudes to money among Austrian students

Abstract

Previous research in many parts of the world has linked personality traits and biographical variables to certain money-related-attitude factors, while the situation in Austria has hardly been investigated so far. The purpose of this study was to identify possible relations between personality traits, biographical variables (independent variables), and money attitude factors (dependent variables) in Austria.

In this quantitative study, the NEO Five­Factor Inventory (NEO-FFI, measuring personality traits), the Money Attitude Scale (MAS, measuring money attitudes), as well as self-constructed biographical items were used. Data was collected through an online questionnaire, which was answered by 83 Austrian business education students. The results were analyzed with descriptive and inferential methods.

The personality dimensions “openness to experience” and “agreeableness,” as well as the biographical factor “gender,” significantly influence the money attitude “power-prestige.” The personality dimensions “neuroticism” and “conscientiousness” are significantly associated with the money attitude “anxiety.” Thus, gender and certain personality dimensions could act as predictive factors for pronounced power­oriented or anxiety-oriented money attitudes.