Gender Differences in Money Attitudes among University Students in the Republic of Macedonia

Abstract

The purpose of this study is to ascertain students’ attitudes toward money and debt and to identify gender differences in money and debt attitudes in Macedonia. Attitudes toward money have been examined by employing factor analysis. The respondents were required to complete a 20 item money attitude scale. By employing factor analysis, 3 dimensions of the money attitude scale were identified (power-prestige, anxiety and distrust). Furthermore, t-test and chi-square test were employed to see if male and female students differ significantly in their attitudes toward money on the dimensions of the money attitude scale and in their general attitudes toward debt. Results of the t-test confirmed the existence of gender differences in power-prestige and anxiety dimensions of money attitudes. Results of chi-square test showed no statistically significant relationship between male and female students in their general attitudes toward debt/credit. Recommendations may help financial institutions and other companies in designing appropriate marketing strategies.