Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE ( © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 21 June 2021

Abstract and Keywords

Considerable research and investigation articulates the nature and consequences of a dysfunctional relationship to money and material possessions. But in technology-based, capitalistic societies, core human needs include a functional relationship to money and possessions. This chapter builds on previous work that extends self-determination theory and Kinder’s model of money maturity to propose the attributes of a functional relationship to money and possessions. Evidence supports cross-cultural commonality in three core financial needs that extend self-determination theory’s core psychological needs to the financial domain: (1) financial autonomy, (2) financial competence, and (3) financial relationships. In contrast, evidence suggests that financial values are culturally embedded. The proposed pyramid-shaped model includes a scaffolding relationship among the three, previously mentioned, tiers. It radically differs from the dominant self-centered view of financial functionality in its inclusion of transcendent financial motivation and embeds a paradox: a functional relationship to money is nonmaterialist, financial resources are merely a means to achieving nonfinancial, transcendent goals.

Keywords: financial motivation, self-determination theory, George Kinder, positive psychology, financial self-efficacy, financial materialism

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.