Journal of Family and Economic Issues

, Volume 25, Issue 4, pp 469–481 | Cite as

College Students' Money Beliefs and Behaviors: An Asian Perspective

  • Diane M. Masuo
  • Y. Lakshmi Malroutu
  • Rieko Hanashiro
  • Jung Hoon Kim


The multidimensionality of money was investigated, using exploratory factor analysis (EFA). The respondents, 290 college students from Korea, Japan, and the United States, were administered a survey, which included socio-demographic questions, and Furnham's (1984) Money Beliefs and Behaviors (MBBS) Scale. Through a series of principal components analyses, a three-factor model with 10 MBBS items was identified. The three factors, Power, Security, and Financial Modesty accounted for 53.6% of the variance. The findings have implications for college students and financial management practitioners.

Asian college students factor analysis money beliefs money behaviors 


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Copyright information

© Springer Science+Business Media, Inc. 2004

Authors and Affiliations

  • Diane M. Masuo
    • 1
  • Y. Lakshmi Malroutu
    • 2
  • Rieko Hanashiro
    • 3
  • Jung Hoon Kim
    • 4
  1. 1.Department of Family and Consumer SciencesUniversity of Hawai`i at ManoaHonoluluUSA
  2. 2.Department of Family and Consumer SciencesCalifornia State UniversitySacramentoUSA
  3. 3.University of the Ryukyus, Faculty of EducationOkinawaJapan
  4. 4.Wonkwang UniversityIksanKorea

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