Scribd
Upload
4 views

week 7

The document discusses how early parental attitudes towards money shape individual financial behaviors, including saving, spending, and investing. It outlines six major characteristics of how people view money: frugal, pleasure-seeking, status-driven, indifferent, powerful, and self-worth focused. Each characteristic reflects different motivations and potential consequences related to financial management.

Uploaded by

Hannah May pepino
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
4 views

week 7

The document discusses how early parental attitudes towards money shape individual financial behaviors, including saving, spending, and investing. It outlines six major characteristics of how people view money: frugal, pleasure-seeking, status-driven, indifferent, powerful, and self-worth focused. Each characteristic reflects different motivations and potential consequences related to financial management.

Uploaded by

Hannah May pepino
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 9

Developing Personal Financial Literacy

One’s attitude about money is heavily


influenced by the parent’s attitude and behavior
about money. The attitudes you formed early in
life probably affect how you save, spend, and
invest today.
Six major characteristics types in how people
view money
Frugal: people seek financial security by living below their means and
saving money. They rarely buy luxurious items, they save money
instead. They save money because they believe that money will offer
protection from unprecedented events and expenses
Pleasure: seekers use money to bring pleasure to themselves and to
others. They are more likely to spend than to save. They often live
beyond their means and spend more than they earn. If they are not
careful and do not change, they may fall into deep dept.
Status: some people use money to express their social status. They
like to purchase and “ show off ” their branded items.
Indifference: some people place very little importance on having
money and would rather grow their own food and craft their own
clothes. It is as if having too much money makes them nervous and
uncomfortable.
Powerful: people use money to express power or control over others.
Self-worth: who spend money for self- worth value how much they
accumulate and tend to judge others based on the amount of money
they have.

You might also like