Childhood, money; parents, emotional association, gender, money behaviors


In this study 512 adults completed two questionnaires. One questionnaire was devised specifically for this study concerning childhood memories of parental beliefs and behaviours with respect to money (i.e moneygrams)/ The second questionnaire established a measure of “money pathology” (Forman, 1987). The moneygram questionnaire was based on clinical cases and idiographic studies on money pathology. Around a fifth of the items showed significant sex differences. Factor analysis highlighted one clear factor, namely “money secrecy” - which was associated with greater levels of spending money pathology in adulthood. In women, but not in men, higher family money secrecy was significantly associated with compensating and hoarding money pathologies. The latter two were not related to income in either men or women. Implications and limitations of these results are considered.

Creative Commons License

This work is licensed under a Creative Commons Attribution-Noncommercial 4.0 License


Beutler, I., & Dickson, L. (2008). Consumer economic socialisation. In J. J. Xiao, (Ed.), Handbook of Consumer Finance Research. NY: Springer.

Bowen, C. F. (2002). Financial knowledge of teens and their parents. Financial Counselling and Planning, 13, 2, 93-101.

Brusdal, R. (2004). Growing up commercial. Report, National Institute for Consumer Research, Oslo.

Churchill, G. A., & Moschis, G. P. (1979). Television and interpersonal influences on adolescent consumer learning. Journal of Consumer Research, 6, 23-35.

Clarke, M. D., Heaton, M. B., Israelsen, C. L., & Eggett, D. L. (2005). The acquisition of family financial roles and responsibilities. Family and Consumer Sciences Research Journal, 33, 321-340.

Coolidge, F. L. Tambone, G. M. Durham, R. L. & Segal, D. L. (2011). Retrospective assessments of childhood psychopatholkogy by adults and their parents. Psychology, 2, 162-168.

Crawford, T. (1994). The Secret Life of Money. New York: Allworth Press.

Danes, S. M. (1994). Parental perceptional of children’s financial socialization. Financial Counseling and Planning, 5, 127-149.

Drotner, K. (1991). To Create One-self. Youth, Aesthetics, Pedagogy. Gyldendal, Copenhagen.

Ealy, C. D., & Lesh, K. (1998) Our money ourselves: Redesigning your relationship with money. New York: Amacom

Forman, N. (1987). Mind over money. Toronto: Doubleday.

Furnham, A. (2013). The New Psychology of Money. Hove: Psychology Press

Furnham, A., & Argyle, M. (1998). The psychology of money. London: Routledge.

Furnham, A., & Okamura, R. (1999). Your money or your life: Behavioural and emotional predictors of money pathology. Human Relations, 52, 1157-1177.

Furnham, A., & Wilson, E. (2011). Gender differences in estimated salaries. Journal of Socio-Economics, 40, 623-630.

Furnham, A., Wilson, E., & Telford, K. (2012). The meaning of money. Personality and Individual Differences, 52, 707-711.

Furnham, A., von Stumm, S., & Fenton-O’Creevy, M. (2014) Sex differences in money Pathology. Plos One

Gallen, R. (2002). The Money Trap. New York: Harper Collins.

Gold, J. (2009). Negotiating the family concerns of stepfamilies. The Family Journal, 17, 185-188.

Goldberg, H., & Lewis, R. (1978). Money madness. London: Springwood Books.

Gresham, A., & Fontenot, G. (1989). The different attitudes of the sexes towards money among undergraduates in Singapore. Journal of Economic Psychology, 18, 369-286.

Hall, A., & Weber, K. (2009). Your Money or Your Life. New York: Atria.

Halverson, C. (1988). Remembering your parents: Reflections on the retrospective method. Journal of Personality, 56, 435-443.

Hilgert, M., Hogarth, J., & Beverley, S. (2003). Household financial management: the connection between knowledge and behaviour. Federal Reserve Bulletin, July, 309-322.

Hira, T., & Lobil, C. (2006). Understanding the impact of employer provided financial education on workplace satisfaction. Journal of Consumer Affair, 39, 173-194.

Hollander, E., & Allen, A. (2006). Is compulsive buying really a disorder, and it really compulsive? American Journal of Psychiatry, 163, 670-672

Klontz, B., & Britt, S. (2012). How clients’money scripts predict their financial behaviours. Journal of Financial Planning, 11, 46-53.

Klontz, B., Britt, S., Mentzer, J., & Klontz, T. (2011). Money beliefs and financial behaviours. Jouranl of Financial Therapy, 2, 1-22.

Klontz, B., Britt, S., Archuleta, K., & Klontz, T. (2012). Disordered money behaviours. Journal of Financial Therapy, 3, 17-42.

Lyons, A. C., Scherpf, E., & Roberts, H. (2006). Financial education and communication between parents and children. Journal of Consumer Education, 23, 64-76.

Matthews, A. (1991). If I think about money so much, why can’t I figure it out? Understanding and overcoming your money complex. New York: Summit Books

McClure, R. (1984). The relationship between money attitudes and overall pathology. Psychology, 21, 4-6.

McCrae, R.R., & Costa, P.T. (1988). Recalled parent-child relations and adult personality. Journal of Personality, 56, 417-434.

Medintz, S. (2004). Secrets, lies and money. Money, 34, 121-128.

Mellan, O. (1994). Your money style. New York: MJF Books.

Moschis, G. P. (1985). The role of family communication in consumer socialisation of children and adolescents. Journal of Consumer Research, 11, 4, 898-913.

Mumford, D., & Weeks, G. (2003). The money genogram. Journal of Family Psychotherapy, 14, 33-45.

Norvilitis, J. M., Merwin, M. M., Osberg, T. M., Roehling, P. V., Young, P., & Kamas, M. M. (2006). Personality factors, money attitudes, financial knowledge and credit-card debt in college students. Journal of Consumer Affairs, 35, 213-240.

Pinto, M. B., Parente, D. H., & Mansfield, P. M. (2005). Information learned from socialisation agents: Its relationship to credit card use. Family and Consumer Sciences Research Journal, 33, 4.

Rettig, K. D. (1985). Consumer socialisation in the family. Journal of Consumer Education, 3, 1-7.

Rowe, D. (1997). The Real Meaning of Money. London: Harper Collins

Rubinstein ,W. (1981). Survey Report on Money. Psychology Today, 5, 24-44.

Shapiro, M. (2007). Money: A therapeutic tool for couples therapy. Family Process, 46, 279-291.

Solheim, C. A., Zuiker, V. D., & Levchenko, P. (2011). Financial socialisation of family pathways: Reflections from college students’ narratives. Family Science Review, 16, 2, 97-112.

Teplitsky, I. (2004). The Psychology of Money. Oakland: Julius Books

von Stumm, S., Fenton O’Creevy, M., & Furnham, A. (2013). Financial capability, money attitudes and socioeconomic status. Personality and Individual Differences, 54, 344-349

Wilska, T.-A. (2005). Gender differences in the consumption of children and young people in Finland. In T-A. Wilska and L. Haanpaa (Eds). Lifestyles and Social Change. (pp 159-176). Turku School of Economics and Business,

Wilson, V. (1999). The secret life of money: Exposing the Private Parts of Personal Money. London: Allen & Unwin.