Exploring the relationship between money attitudes and Maslow's hierarchy of needs

Abstract

Abstract This study explores the relationship between basic human needs and money attitudes in a university‐age cohort utilizing Maslow's theory of hierarchical needs. Results confirmed relationships between needs and money attitudes. Specifically, all of Maslow's needs appear to be strongly related to the money attitudes of evaluation and anxiety. In addition, men's and women's needs are highly correlated with obsession, budget, anxiety and particularly evaluation. Findings support existing literature and point to the importance of understanding money attitudes and level of need satisfaction among individuals and families, particularly from a counselling and educational standpoint. Implications and possible areas for future research are discussed.