Abstract

To develop a scale for money attitudes are of having significance to get an idea regarding
 many fields ranging from financial literacy skills to economic and demographic
 characteristics. Therefore, in this study, Money Attitude Scale was developed in Turkish. As
 for population, 360 individuals (160 male, 200 female) participated for the explanatory
 analysis in the study. Additionally 200 individuals participated for the confirmatory analysis
 in the study. The population consists of the students from various departments ranging from
 Economic to Mathematics to Education in Iğdır University and Ondokuz Mayıs University. As
 fort he explanatory factor analysis, a scale having 22 items and three factors was created. It
 was found that the Cronbach Alpha constant was .874. As for the confirmatory factor
 analysis, χ2 /sd is found to be 1.467, CFI is found to be .960, GFI is found to be .935, IFI is
 found to be .961, TLI value is found to be .955, RMSEA value is found to be .048 and RMR is
 found to be .129 indicating that that the structure is at an acceptable level. Neural network
 analysis show that the most important items for this model are the items belonging factor 3
 “Money as a concrete medium” and Factor 2 (“Money as a tool for relationships”) altough
 they have less items compared to first factor. At the end of the analysis it was concluded that
 factor 1 should be entitled as “Money as a tool for reaching ideal”, factor 2 was entitled as
 “Money as a tool for relationships” and factor 3 was entitled as “Money as a concrete
 medium”. It should be pointed out that these two dimensions are similar to the constructs of
 Furnham (2014).

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