Analysis of the financial attitudes of men and women in Hungary

Abstract

Many studies examine the role of attitudes to money in determining an individual's financial management and financial well-being. Attitudes towards money play a crucial role in the life of adults when they finish high school, begin to leave their homes, or prepare to start a family. Our society prepares women and men for partly different roles, which gives rise to differences in behavior towards personal and family finances. The article presents the results of a Hungarian research that explores the financial attitudes of women and men using the money attitudes questionnaire published by Lay and Furnham (2018). Convenience sampling of 212 people was applied, and the questionnaire included the following dimensions: achievement and success, saving concerns, mindful and responsible, power and status, and financial literacy concerns. We suggested two hypotheses. First, women would score higher than men in the dimension of saving concerns. Second, men would score higher than women in achievement and success dimension. As a result of the research, both hypotheses were confirmed and the correlations between the dimensions, and the relationships between each dimension and salary were analyzed.