Template-Type: ReDIF-Article 1.0
Author-Name: Erzsébet Németh
Author-Workplace-Name: Metropolitan University
Author-Email: enemeth@metropolitan.hu
Author-Name: Dániel Béres
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: beresd@mnb.hu
Author-Name: Katalin Huzdik
Author-Workplace-Name: Metropolitan University
Author-Email: khuzdik@metropolitan.hu
Author-Name: Boglárka Zsótér
Author-Workplace-Name: Corvinus University of Budapest
Author-Email: boglarka.zsoter@uni-corvinus.hu

Title: Financial personality types in Hungary –
research methods and results

Abstract: The objective of our study is to determine the characteristic features according to
which an individual can be evaluated from the aspect of his/her financial culture.
People filling in the questionnaire consisting of 36 questions may determine how
much they can be characterised by individual features or behaviours. We worked
with two types of personality profiles. One of them was compiled by the author
of the test (preliminarily defined personality profile). In this case, respondents get
feedback on the results they achieved in each pre-defined dimension (Price-sensitive,
Economizing, Moderate, Saver, Diligent, Controls his finances). Among these
dimensions, awareness and diligence are positive preliminary indications of the
level of the person’s financial culture. The high level of saving and price-sensitivity
did not correlate with good results achieved in other personality dimensions.
In addition, we elaborated another personality profile obtained in empirical way.
In order to establish the dimensions, we performed factor analysis. The established
dimensions are: Short of cash, Economizing; Money-devouring; Order creates value;
Price-sensitive; Collector; Planner; Ups and downs; Diligent and Cannot control his
finances.

Classification-JEL: A13, D03, D12, I22
Keywords: financial personality, financial culture, financial behaviour

Journal: Financial and Economic Review  
Pages: 153–172
Volume: 15
Issue: 2
Year: 2016
File-URL: http://english.hitelintezetiszemle.hu/letoltes/erzsebet-nemeth-daniel-beres-katalin-huzdik-boglarka-zsoter-en.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:15:y:2016:i:2:p:153-172