The Meaning of Money, The Money Ethic Scale, and Money
Profiles: Part 5
Thomas Li-Ping Tang, Ph.D.
Middle Tennessee State University
Presented at
University of Nantes
Middle Tennessee Residents
Williamson County 18
Brentwood 10
Franklin 8
Davidson County 36
Nashville 36
Rutherford County 42
Murfreesboro 34
Smyrna 8
Williamson Davidson Rutherford
1 2 3
Age 51.11 46.59 41.25 3<1
Sex (M=1) .61 .71 .78 ns
Education 15.00 14.19 14.29
Income 85,083.33 51,272.73 67,750.00
House 112,083.33 84,285.71 143,171.43
Children 1.67 1.60 1.69
Williamson Davidson Rutherford
1 2 3
Year Built 1983 1966 1981 2<3<1
Bedrooms 3.67 3.19 3.59
Bathrooms 2.61 1.87 2.68
Home $ 218,750.00 210,880.00 208,864.86 ns
Size (ft2) 2,618.61 1,997.12 2,644.95
Lot (A) 1.17 1.91 1.82
Yard Bud 2,136.36 1,096.43 1,733.06 ns
Official Statistics
Brentwood Nashville M’boro
Cost of Living 81 76 61
Median Income 74,736 34,009 35,633
2000 ft2 Home 202,000 166,000 138,000
---------------------------------------------------------------
Income 85,083 51,273 67,750
Household 112,083 84,286 143,171
Home $ 218,750 210,880 208,865
Williamson Davidson Rutherford
1 2 3
I-Relatives 3.47 3.06 2.33 3<2,1
I-Highways 3.56 3.73 2.62 3<1,2
I-Malls 4.07 2.88 2.60 3,2<1
I-Medical 4.06 3.18 3.25 2<1
I-Prestige 3.87 2.70 2.85 2,3<1
S-My Work 4.07 4.22 3.62 3<2
S-Pay Adm. 3.60 2.82 2.39 3<1
S-Life 3.50 4.29 3.64 3<2
Importance in Choosing Your Home Location
Item Factor Loading
Factor 1: Location
Beautiful Subdivision .90
Beautiful Houses .86
Prestige of the Subdivision .66
Nice Neighbors .58
Importance in Choosing Your Home Location
Item Factor Loading
Factor 2: Daily Activities
Close to My Work .83
Close to Spouse’s Work .78
Close to Children’s School(s) .73
Importance in Choosing Your Home Location
Item Factor LoadingFactor 3: Social Activities Close to Parks/Lakes/Recreation
Areas .83Close to Church .76Close to Interstates and Major
Highways .46
Importance in Choosing Your Home Location
Item Factor Loading
Factor 4: Quality Services
Close to Shopping Malls/Stores .85
Close to Medical Facilities .62
Satisfaction
Item Factor Loading
Factor 1: Home
My Landscape .89
My Effort (My Yard) .83
My Lawn .82
My House .59
My Contractor’s Work .54
Satisfaction
Item Factor Loading
Factor 2: Pay
Pay Administration .81
Raises .80
Pay .77
Benefits .54
Satisfaction
Item Factor Loading
Factor 3: Life
My Life as a Whole .88
My Personal/Family Life .86
My Work .71
Cluster Analysis (K-Means)
4-Cluster Solution
F (3, 86) p
Budget 92.22 .000
Motivator 27.83 .000
Success 25.19 .000
Evil 5.34 .002
Equity 1.64 .185.
Four Money Profiles
Money Apathetic Careless Achieving Repeller Money Money Money Handler Admirer Worshiper
31 15 16 2834.44% 16.67% 17.78% 31.11% MT
--------------------------------------------------------------- 26.37% 16.08% 19.83% 37.62% W 24.41% 9.57% 20.57% 45.45% US 30.39% 27.45% 15.69% 26.47% S USA, Spain
Four Money Profiles
Money Apathetic Careless Achieving
Repeller Money Money Money
Handler Admirer Worshiper
Sex 1 2 3 4
---------------------------------------------------------------
Male 19 10 11 23
Female 11 3 5 4
Four Money Profiles
Money Apathetic Careless Achieving Repeller Money Money Money
Handler Admirer Worshiper 1 2 3 4
Budget 2.92 4.77 (2.09) 4.68 3<1<4,2Motivator 3.35 2.73 4.44 4.59 2<1<3,4Success 2.40 2.33 4.25 3.80 2,1<4,3Evil 3.18 2.27 2.16 2.54 3,2< 1Equity 3.44 3.80 3.48 3.24
Four Money Profiles
Money Apathetic Careless Achieving Repeller Money Money Money
Handler Admirer Worshiper 1 2 3 4
Age 43.59 45.62 42.29 46.30 nsEdu. 14.20 14.31 14.62 14.54 nsIncome 60,304 56,000 79,000 64,684 nsHouse 158,954 80,636 107,000 103,900 nsChildren 1.55 2.00 1.75 1.57 ns
Four Money Profiles
Money Apathetic Careless Achieving Repeller Money Money Money
Handler Admirer Worshiper 1 2 3 4
Lands 2.65 3.73 2.75 3.25 1<2Effort 2.97 4.00 3.00 3.61 1<2Contract 2.63 3.00 3.25 3.56 1<4My Work 3.65 4.40 (3.25) 4.21 3<4,2Pay 2.58 3.47 3.00 3.48 1<4Family 3.72 4.67 (3.06) 3.81 3,1<2Life 3.63 4.47 (3.38) 4.00 3<2
Landscape Budget
Variable R2 c F c p Beta
Size (ft2) .276 17.16 .000 .446
Budget .093 6.45 .015 -.317
Evil .068 5.22 .027 -.267
R = .661, R2 = .437
Income: 4 Groups
<40K 40-45K 45-66K 66K +
Age 40.48 46.64 47.39 43.94 ns
Sex .60 1.00 .89 .76
Edu 12.96 13.64 14.44 17.53 123<4
Income 34,560 43,818 55,833 133,353 123<4
House I 57,869 56,181 77,352 284,823 1<4
Home $ 191,318 121,090 266,555 259,812
One Case
Income: $437,000
Household Income: $2,200,000
Value of Home: $1,810,000
Bedrooms: 13
Bathrooms: 12
Size of House 11,540 ft2
ConclusionWe can consistently classify people into 4 clusters
(Achieving Money Worshipers, Careless Money Admirers, Apathetic Money Handlers, and Money Repellers)
based on the Money Ethic Scale (30-item MES, or 15-item MES),
across several cultures (Macedonia, Spain, and USA).
Future research should test this Model in different occupations and cultures.