Income & Money Attitudes towards Personal Finance: Wealth-Building, Chance or Entitlement?
Attitudes towards socioeconomic class vary. We often tend to think of socioeconomic class as something we are born into and that cannot be changed. Yet we all know of people who have changed their socioeconomic class. We like to read about individuals who raised themselves to a higher socioeconomic class—unless we think they did it dishonestly, of course. We are saddened by TV documentaries, books and personal anecdotes of individuals who have dropped in socioeconomic class. We like to determine who is to blame for that, sometimes the individual himself/herself, sometimes someone else, be it government policy, natural disaster or other individuals.
These views towards socioeconomic class are conditioned by a variety of factors. One branch of psychology describes four money personalities that are conditioned by specific factors of personality type.
This article takes a generational-historical approach. Each generation has its own set of values that distinguish it from other generations. Each generation is a complex product of the historical and geographical setting into which it is born.
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Three finance attitudes
- Active Wealth-building Ventures and the Self-Made Man: A Personal Finance Attitude
Traditionally, American immigrants have sought the freedom to chart their own destinies, pulling themselves up by their economic bootstraps. College scholarships for the self-made man recognize personal...
- Windfall Profits through Chance, Luck and Lotteries: A Personal Finance Attitude
In the late 20th century, it became commonplace for people to routinely spend a portion of their paycheck to buy a lottery ticket. Lottery news is displayed every day on the evening news. More money is...
- Government Entitlements and What Society Owes Me: A Personal Finance Attitude
The entitlement generation believes they are owed somethingby parents, schools, government, employers and anyone else in authority. They have been conditioned to claim more rights than they deserve. An...
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