Sustainability 2019 , 11, x doi: FOR PEER REVIEW www.mdpi.comjournal sustainability Article 1 [616997]

Sustainability 2019 , 11, x; doi: FOR PEER REVIEW www.mdpi.com/journal/ sustainability Article 1
Determining the Effective Factors on Affective 2
Money Behaviors of Academic Staff: Comparison of 3
Turkey and Romania 4
Sinan Saraçlı 1 and Gratiela Dana Boca 2,* 5
1 Afyon Kocatepe University, Faculty of Science, Department of Statistics, 03200 Afyonkarahisar, Turkey, 6
[anonimizat] (S.S) 7
2 Technical University of Cluj -Napoca , Faculty of Sciences, Department of Economics, 430122 Baia -Mare, 8
Romania, [anonimizat] (B.G.D.) 9
* Correspondence: [anonimizat] and [anonimizat] 10
11
Received: date; Accepted: date; Published: date 12
Abstract: A new provocation regarding the knowledge of the financial environment a good 13
financial health and the abilities to manage money are essential in a economic systems in 14
continuing changing. Today the ability and financial skills allow people to allocate their financial 15
resources througho ut their lives in a life of uncertainty and imperfection. The lack of healthy 16
financial education leads to inequalities between customers and consumers. Without a general 17
understanding of financial concepts, we cannot make wise choices in financial terms: we are not 18
open to saving and we do not know how this behavior can help us in the future. We do not know 19
how to make investments, we do not understand how and when we can access a loan, we do not 20
understand the financial terms present in a contract of a fi nancial entity. The Klontz Money 21
Behavior Inventory (KMBI) present in this study examined the internal consistency and 22
convergent validity of the KMBI, through comparison with similar measures, among a sample of 23
472 academic staff working at Afyon Kocatepe University, Turkey and Technical University of 24
Cluj-Napoca, Romania (n = 232). The multi -scale measure the presence of eight distinct money 25
disorders and establish relationship between mental health and financial behaviors, results from 26
the KMBI which can be used to obtain a professionals and financial planners for different culture 27
and behavior. The Results indicate that culture has no influence in financial health behavior and 28
give an image about the new profile of consumer in a global market. These find ings highlight a 29
need for literature and assessments to identify and describe disordered money behaviors with 30
specific tradition and culture and adapt the economical strategies. 31
Keywords : Affective Money Behavior, Comparison Study, Statistical Analysis , Financial education 32
33
1. Introduction 34
Today, more than ever, any person needs basic financial knowledge to understand how society 35
works and how to make the best decisions for its future. Knowledge of the financial environment 36
and the abi lities to manage money are essential to tackle the complex economic systems of the 37
present. Why it is important to have a financial health education? Because education improves 38
management costs, balance and reduces the probability of declaring bankruptcy o r survives during 39
the financial crisis. 40
Shawn et.all [1] e xamining mechanisms of financial education they observed that financial 41
education increases people’s financial participation and behaviour and decision making through: 42

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attitudes, borrowing behaviou r, discount rates, risk -aversion, and influence also co-workers and 43
families environment. Yamauchi and Templer [2] established that mon ey is not only an instrument 44
of commerce; it also has a multidimensional psychological meaning which also can be treated as a 45
symbol of status, prestige, power and value . The attitudes towards use of money may be influenced 46
by demographic factors such as age, gender, income, education, cultural background, etc. 47
Lochner and Moretti [3] measure the effect on financial market taking in consideration the age, 48
education and gender but not correlated with the ability, parental characteristics or other factors. 49
Shawn, Paulson and Shastry [4] in their research , introduce a new concept as smart money as 50
effect of education on financial behavior has a smaller impact on financial market participation but 51
statistically and economically has significant effect. 52
An academic interest in the psychological beliefs and behaviours related to financial out comes 53
dates back to the early 1970’s of Furnham [5]. Klontz, B. and Klontz, T. [6] were designed a model 54
to assess for the presence of disordered money behaviours, taking in consideration the systemic 55
changing on life quality as a feeedback Klontz et al. [7] adapted and developed a new model to 56
identify the behaviour money inventory KMBI. 57
The Klontz Money Behavior Inventory (KMBI) [7] and Taylor et al [8] used the KMBI scale to 58
be a standalone, multi -scale measure than can screen for the presence of eig ht distinct money 59
disorders. Given the well -established relationship between mental health and financial behaviors, 60
results from the KMBI can be used to inform both mental health care professionals and financial 61
planners. 62
Klontz, B., Britt, S. L., Archuleta, K. L., & Klontz, T. [9] identify eight behavioral patterns that 63
have been noted in the literature relating to money disorders behaviours: compulsive buying, 64
pathological gambling, compulsive hoarding, workaholism, fina ncial dependence, financial 65
enabling, financial denial and financial enmeshment. The patterns w ere measured by Klontz et al. . 66
[6-7] using the KMBI model and they associate money behaviour with poor financial health [8] . 67
Benson and Silver [4] sustain in th eir article regarding the connection between hoarding and 68
money attitude that individuals who resonate with the money status belief pretend to have more 69
money than they actually do and use credit cards as a means to purchase status -enhancing goods 70
from des igner or luxury -related brands. 71
Yeong Nain Chi, Gaurango Banerjee [10], study the money attitude but bicultural, where a 72
growing number of individuals are taking responsibility for their own financial security, they are 73
faced with increasingly more complex financial instruments, and there are still many who are 74
ill-prepared for making sound savings decisions. 75
76
2. Brief review of the literature 77
Roberts and Sepulveda [11] investigate the consumer culture and money attitude between 78
Mexican and US peoples. Their conclusion was that t he common language of the consumer culture is 79
money. Money attitude influence all areas of persons l ife. In the eman time it is important to take in 80
cosnsideration the negative part of consumer culture regarding the financial health which is 81
compulsive buying which becomes a primary response to negative evens and feelings. 82
Gallen [12] suggested that mon ey disorders are problematic financial behaviours that people 83
engage in to attempt to avoid emotional pain. Taking in cosnideration that m oney attitude 84
dimension are power -prestige, retention –time, consumer competency and anxiety [11] 85

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Benson -Townsend and Silver [13] mention compulsive hoarding as a function of money attitude. 86
Money attitude dimension are power -prestige, retention –time, consumer competency and anxiety. 87
Klontz, Britt -Lutter, Archuleta, & Klontz [14] When family financial structures become so 88
intertwined that the traditional roles of parents an d their children become blurred. On the other 89
positiin Klontz et al [15] consider f amily as a very important and the perfect environment for 90
children to learn about money having a good ex ample parent’ s behavior example. Jorgensen and 91
Savla [16] establish a direct relationship between parent and children attitude and behavior 92
upon money and also parental financial socialization of their children. Kemitz, Klontz and 93
Archulesa [17] establish an area o f concern in parent – child relationships is the impact of boundaries 94
and roles. Parents whose boundaries with their children are rigid and inflexible do not prepare their 95
children to effectively deal with stress in their lives. Similarly, parents whose bo undaries are too 96
flexible may impede their children’s ability to develop appropriate coping skills. 97
On the other hand Danes and Dunrud [18] conclude the importance from earlier age of children 98
to be teached by their paren ts about finance, identify the adul tification and parentification situations 99
in which children becomes the decision makers or va lidation for parent decisions. In the same time 100
Danes et al. [18] and Toraman et al [19] consider cr edit cards a source for advertising and 101
appropriate financial b ehavior in family which create a dynamic environment for financial 102
enmeshment. 103
Segrin, W oszidlo, Givertz and Montgomery [20] suggest another the new concept of helicopter 104
parents and their narcissism and their selfish motivation and divorce couple and th e negative 105
environment for the young and future adult in financial health. 106
According to Wąsowicz -Kirylo [21] , the attention paid to money shown by the parents, as well 107
as their ways of coping with financial matters, play a significant role in how their chi ldren find their 108
way in the world of finance. 109
According to Kowalczyk and Chudzian [22] the results of the research, individuals who in their 110
youthful age benefited from banking products, are the more consistent with the characteristics of a 111
rationalists p erson. This situation can be explained by the fact that people who used to use banking 112
products (e -banking, card, e -commerce, transfer of money) treat them as a tool a fast and safe 113
instrument and rapid solution for their financial health. Also children wh o had their own money 114
better deal in financial problems in their adulthood and managing the financial situation better. 115
Hoarders save items for reasons related to sentimental attachment, usefulness, and aesthetic 116
qualities, and possessions become an extens ion of the self as Belk [23] for the fisrt time in his s tudies 117
have shown that hoarding develops as a result of conditional emotional responses to various 118
thoughts and beliefs concept used also by Klontz et al [9], Grisham et al. [24-26], ,Trachtman [27] 119
and Lowrance [28] considered that money has been argued to be one of the most neglected topics in 120
psychological research and practice . 121
Kershaw [29] identified hoarding as a problem financial behaviour and the desire for money is 122
related to the desire fo r the things it can buy, but like Lea and Webley [ 30] mention the two are 123
logically distinct . Taking into account the literature of the field and the results obtained from 124
national or cross -cultural studies, the authors have established a map of the consum er's behavior 125
and the financial education required and the factors or barriers identified as having a positive or 126
negative influence on the behavior financial. 127
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Figure 1. A Map of Effective factors influencing the financial behavior 170
Source: By authors 171 WELLNESS
HEALTH Workaholic

C
O
N
S
U
M
E
R FINANCIAL
ATTITUDE
Culture Demographic
age, gender Security
FINANCIAL
EDUCATION
FINANCIAL
CONSEILLING
P
S
H
Y
H
O
L
O
G
I
C
A
L Compulsive buyers
Compulsive hoarding
hoarding Pathological gambling
gambling
Financial dependence
Financial enabling
Financial denial
Financial enmeshment
enmeshment Management money
money
Financial literacy
Parental norms
FINANCIAL
BEHAVIOR Skills Knowledge Socialization Affective

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Last but not least, there is a need for fi nancial education, which is an important pillar of 172
economic sustainable thinking like in Figure 1. 173
In 2013, Canale and Klontz [31] transfer the notion of hoarding disorder from psychological 174
disorder, to the money as management disorder from financial health point of view. In conclusion 175
in the new society peoples must to spend the money in order to live life and those that save money to 176
the point of ignoring leisure, medical care, personal hygiene, or creating dangerous situations from 177
clutter, need to develop a healthy relationship with money and to find ways to use money 178
successfully with the help of financial education help. 179
Consumers save and borrow to have enough money left for retirement, to make stable and 180
expensive purchases and to protect themselv es against unforeseen expenses Bucciol and Veronesi, 181
[32]. It is therefore useful to research whether parental financial teach ing can lead to specific 182
consumer saving and borrowing behaviour. 183
Many previous studies of Bucks and Pence [33] and Simkiv [34] have discussed the role that 184
financial education plays in relation to financial behavior and whether financial education is 185
relevant to increas ing financial knowledge. R esearch results show that people from Ukrain who 186
work in state institutions are more me ticulous about planning their budget, projecting all income 187
and expenses, they try to pay all the bills on time to avoid financial punishment and generally are 188
more prudent and careful about spending money. 189
Table 1, summarize the money systemic evolution a nd financial attitude and behavior of 190
consumer in researcher’s definition 191
192
Table 1. Dimension of money disorder 193
Authors Dimension of money disorder
Yamauchi and Templer , 1982 Money is not only a instrument of commerce it i s also a
multidimensional psychological meaning
Trachman, 1999 , Lowrance,
2011 , Koltz Bives 2008 Money is the most neglected topic in psychological research
and practice
Jorgensen and Savla , 2010 Direct relationship between parent and children attitude and
behavior upon money
Klontz et al. 2011 Money behavior is associated with poor financial health
Shawn and Paulson , 2012 Smart money as effect of education on financial behavior
Gallen, 2012 Money disorders are problematic financial behaviors to avoid
emotional pain
Yeong, et al. 2013 Money attitude responsibility for their own financial security
Candle rand Klontz, 2013 Money are associated with management disorder
Benson and Silver 2015 Connection between hoarding and money attitude
Source: By authors 194
195
In the United States of America, the 2018 United States Study [35] shows that economic education 196
has grown insignificant and that the re has been no growth in personal finance. Money management 197
skills in an ever -changing economy of adapting to a modern market have become an essential and 198
important element and most states have not yet prioritized the development of a personal financial 199
culture since the school's banks. Financial inclusion and financial health are the solutions that can 200

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solve the problems of individual life if the current causes and challenges of the economy are 201
understood and the existing gaps in the traditional financial system are being remedied like Dan 202
Schulman the CEO pf PayPal [ 36] sustain that issue even the study was realized in a country very 203
well know as an economical power. 204
Hogarth [37] in his paper provides also a picture of financial education in the USA becau se it 205
refers to the development of the community and the economy. He answer to the major W’s ‘’why it 206
is necessary to analyze why financial education is important? and what is "financial education?" 207
In the actual global market of the 21st century financia l education differ from previous epochs. 208
From individual financial education perception differ from a person to another, Hilgert et al [38] 209
have demonstrated that the higher consumer -based level financial knowledge shows that the 210
consumer has undertaken se veral positive financial management behaviors and has used several 211
financial products and services. In change they [38] establish and have underlined that financial 212
knowledge can be statistically linked to credit -related financial practices as well as cash flow 213
management, savings and investment. 214
Hanushek and Woessmann [ 39] also analyzed and demonstrated a very close link between the 215
cognitive abilities of a country's population and the country's economic growth rate. Hanushek 216
carried out an analysis of all teachers, so improving the quality and efficiency of teachers is directly 217
related to strengthening students' financial literacy. Hanushek et al [39] present the impact of good 218
training increases as the student advances to a higher level, but the teachers rely on average 219
performance in students and set their instructions accordingly. 220
Swinton et.al [40] in their study in Georgia as ex -communist country with different behavior and 221
mentality, discover and have shown that high sch ool students are required to pursue a course of 222
economics before graduation. This attitude it is necessary especially now when the global economy 223
it is in a dynamic changing and we have to prepare the new citizens of tomorrow. In addition, they 224
require stu dents to undergo a state level state -level test at the end of the high -school economics 225
course. This test is calculated for 15% of the final grade during the high school. For these reasons, 226
Georgia is uniquely suited to analyzing whether personal training for high school economics 227
teachers improves pupils' learning. 228
In conclusion the situation from Georgia, like in Romania and other countries from East Block 229
communist countries, w e can make a differenc e by building deeper links between the public, 230
private and social sectors to develop new curricula and educational models that encourage and 231
encourage knowledge and financial understanding from a young age. 232
Most empirical and theoretical literature suggest that there is a relationship between social 233
indicators and economic growth, therefore human capital has been subjected to research by Mohun 234
et al [41] as it is and will remain a great unknown. In their study in Mauritius, they tried to identify 235
the determ inants of economic development. 236
They viewed education as an investment in human capital because the benefits belong to an 237
educated individual during a lifetime. To test this hypothesis, human capital has been considered 238
as an important role in economic gr owth, mainly as an engine for improving production and 239
society through sound financial education. 240
The money behavior of people and q uestion of money attitudes was explored and described by 241
Kowalczyk and Chudzian [ 42], in their article about m oney attitudes and economic socialization in 242

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Poland . In their research implications arising from the awareness of the existence and operation of 243
specific factors affecting attitudes towards material values. 244
Not at last Ünal and Düger [ 43] in Turkey also applied an empirical analysis on the relation 245
between academics financial well -being and financial behaviour. In addition, it was found that 246
people with higher education comes a better ability to refrain from spending money . 247
People can be in one of the following situations everything depend of the attitude and financial 248
education of people (Table2). 249
250
Table 2.People money behavior in function of financial education 251
Income Expense Income
Expense Income Saving
Saving Debt Expense
252
Taking in consideration that factor in their research Kowalczyk and Chudzian [42], Roberts and 253
Sepulveda [44], Tang [45], Tang and Gilbert [ 46] , Tang and Chiu [4 7] found that people with 254
higher incomes are likely to evaluate the money as a good thing, a proof of the successes. 255
Yoko Mochizuki and Audrey Bryan [48] bring an important contribution through the concept of 256
climate change in education in the context of sustainable development education and especially for 257
financial education. 258
In the final document entitled "The Future We Want", participants from all countries have 259
renewed their commitment to "ensure the promotion of an economi cally, socially and 260
environmentally sustainable future for our planet and for present and future generations" from 261
United Nation U N, 2012, p. 1 , [49]. Financial education is a life cycle that sometimes requires 262
adaptation and harmonization with the new con ditions imposed by time and space. 263
The paper presents the importance and role of financial education in modern society when the 264
dynamics of turbulent factors often lead to economic and financial changes. The paper presents the 265
advantages and the current importance of financial education for the young generation and for 266
individuals as well as for economic units and last but not least for the whole society as we share the 267
same economic space. 268
The article follows the position of financial education in two countries with different traditions 269
and cultures, as well as the need to inform the public about the fnancial education needed at 270
European level in a dynamic and global society. 271
The conclusion is that it is necessary to prepare a national financial education so Starček and 272
Trunk [50} have noticed that economic changes, demographic problems, the dynamic evolution of 273
technology and the other in Europe lead to a dele gation of responsibility in the field of financial 274
activities and security of individuals. 275
The purpose of this study is to examine and determine the effective factors on affective money 276
behaviors of academic staff via statistical techniques and compare the results of Turkish and 277
Romanian academic staff simultaneously. 278
The article may provide a boost to help realize that currently often ignored issue of the existence 279
of shaped money attitudes is often a source of social as well as economic problems from mar ket and 280
give a complete image of financial health. 281
282

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3. Materials and methods 283
284
3.1. Purpouse of the Study 285
The paper and research done until now in literature confirms that the profession of professor is 286
more popular as income increases and therefore attracts more motivated and skilled people. For 287
that reason the study want to identify the academic staff behavior upon the money behavior and 288
identify the level of financial education between two countries with different culture and 289
perception. The participants of this study is composed of 472 academic staff working at Afyon 290
Kocatepe University and Technical University of Cluj Napoca between the dates 15 March -15 A pril 291
2018. To measure the effective factors which influences the financial behavior of academic staff, a 292
Likert scale type questionnaire, ranging from 1 to 5, from strongly disagree to strongly agree 293
is applied on a face -to-face individual question nares for each academic staff from university. The 294
question nare is Klontz’s (2012) money behavior inventory has commonly formed this questionnaire 295
(KMBI) . The questionnaire was composed of 60 questions. Seven of them were related with 296
demographic characterist ics (age, living place, gender, education level, marital status) and 53 of 297
them were related wi th their the financial behavior , because of some unfilled and wrong filled 298
questionnaires, the statistical analyses are applied over 472 questionnaires. 299
300
3.1. Sample and Measurment Tool 301
Explanatory Factor Analysis (EFA) is applied first to data set to determine the dimensions of the 302
scale. Then, by independent samples t test the hypothesis whether the obtained dimensions' means 303
differ according to country is t ested. Finally, regression analysis applied to determine the effective of 304
other variables (which are obtained from the results of EFA) on the Affective money Behaviors of 305
academic staff. SPSS software is used to perform these statistical analyses. 306
307
3.2. Reliability and Validity of Scales 308
As a result of Explanatory Factor Analysis (EFA) 23 items have subtracted from the scale 309
because of getting loadings in a wrong factor and forming a separate factor combining with wrong 310
items theoretically. Finally, analys es are applied over 30 items for six factors named as: 311
1. Affective Behavior (AB1 -AB11) ; 312
2. Pathological Gambling (PG 1-PG5); 313
3. Compulsive Buying (CB 1-CB4); 314
4. Financial Enabling (FE 1-FE4); 315
5. Financial Enmeshment Family (FEF 1-FEF3 ); 316
6. Compulsive Hoarding (CH 1-CH3 ). 317
These six factors also explained the 58.266% of total variance. The factor loadings, Eigen values 318
and Cronbach’s Alpha values of each factor are given in Table 1. 319
The total Cronbach’s Alpha value of the scale which consists of 30 items is calculated as 0.884 320
which is statistically one of the indicators that the reliability of the scale is well enough. 321
322
4. Results 323
This paper attempts to bring to the existing literature new evidence on the relationshi p between 324
education and economic growth, but also to investigate, if the formal models so far are valid from 325

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the point of view of culture, a cross cultural model of the traditions and the mentality of the money 326
people behavior and attitude . 327
The study also highlights the statement that education plays a central role in economic growth 328
regardless of country and level of economic development. The role of education in universities 329
through their staff can provide the theoretical economic conditions needed in th e formation of the 330
next generation of consumers, tomorrow's entrepreneurs. 331
The patterns developed in each country through the growth effects of education as presented in 332
today's literature are presented in the study carried out in Turkey and Romania unive rsities with 333
different culture and traditions and also people mentality. 334
The authors consider that financial education is very important and teachers are, in turn, models 335
that shape tomorrow 's generations that’s why the target was selected from academic universities 336
staff. 337
The results are presented and organized so as to bring a contribution through : 338
1- Short analysis and the effects of the prospects of the economic growth theory for each country 339
and separately following the application of the KMBI questi onnaire ; 340
2- Provides the interconnection between education, financial education and economic growth for 341
sustainable education; 342
3- Develops a nd present a possible cross cultural model from financial education point of view; 343
4- Describes behavioral analyzes in relation with individual and family affairs money and 344
activities for educated peoples; 345
5- Explains the relationship between education and economic growth ; 346
5-Also highlights the negative money transformations behavior and att itude in financial 347
behavior and gives information about them . 348
As we can see from Table 1 the results are establish for academic staff from both countries and 349
their behavior the maximum value of 7.894 was obtain for affective behavior (AB) sentimental 350
behav ior it is similar for both countries the responsibilities of educated people in front of themselves 351
and their families , the maximum score was obtain by the item AB1 ‘’I often return items because I feel 352
bad about buying them’’. 353
As Klontz establish in his scale of measure of behavior on money we identify also another 354
factor pathological gambling (PG) which obtain a value of 3. 276 and situate the behavior on second 355
place for entire target which present the hidden part of people an d also the feeling of power for a 356
moment. 357
The maximum score was obtain by the item PG1 ‘ ’I have to gamble with more and more money to 358
keep it exciting’’ so extra activities of spending time and be relax in each country it is important, it is 359
necessary to view the positive part of situation on one site gambling help to develop the creativity 360
and ability and also to assume the risk in different situations in individual or family life style. 361
For the other factors as we can see from Table 1 the values are low er for example compulsive 362
behavior (CB) obtain a value of 2.246 but the item with significant importance it is CB1 ‘’ I feel 363
irresistible urges to shop ’’ which reflect exactley the actual society when shooping became a rutine in 364
eople life style . 365
The fin ancial enabling (FE) has a value of 1.764 , and the important item it is ‘’I sacrifice my 366
financial wellbeing for the sake of others ’’ the role of financial education it is important for the 367
financial health of family situation . 368

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369
Table 1 .Results of Explanatory Factor Analysis for academic staff behavior 370
Factors Loadings Eigen
values % of
Variance α
AB Affective Behavior
7,894 12,621 0.835 AB1 I often return items because I feel bad
about buying them. ,634
AB2 I have made promises to myself or
others to work less but have had
trouble keeping them. ,610
AB3 I feel anxious or panicky if I am unable
to shop. ,580
AB4 I have hid my gambling from people
close to me. ,578
AB5 I hide my spending from my
partner/family. ,567
AB6 I hide my need to hold on to items
from others. ,543
AB7 I often find myself feeling resentment
or anger after giving money to others. ,529
AB8 I feel guilt and/or shame after making
purchases. ,514
AB9 I feel irresponsible if I get rid of an
item. ,501
AB10 Shopping interferes with my work or
relationships. ,478
AB11 I have tried to reduce my spending
but have had trouble doing so. ,433

PG Pathological Gambling
3,276 12,075 0.859 PG1 I have to gamble with more and more
money to keep it exciting. ,829
PG2 I have committed an illegal act to get
money for gambling. ,791
PG3 I have borrowed money for gambling
or have gambled on credit. ,761
PG4 I gamble to relieve stress or make
myself feel better. ,752
PG5 I have trouble controlling my
gambling.

,679

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CB Compulsive Buying
2,246 11,164 0.831 CB1 I feel irre sistible urges to shop. ,817
CB2 I shop to forget about my problems
and make myself feel better. ,792
CB3 I buy more things than I need or can
afford. ,756
CB4 I obsess about shopping. ,732
FE Financial Enabling
1,764 8,819 0.682 FE1 I sacrifice my financial wellbeing for
the sake of others. ,727
FE2 I give money to others even though I
can't afford it. ,704
FE3 I have trouble saying "no" to requests
for money from family or friends. ,642
FE4 I lend money without making clear
arrangements for repayment. ,627
FEF Financial Enmeshment Family
1,223 7,155 0.764 FEF1 I ask my children (under 18) to pass
on financial messages to other adults. ,810
FEF2 I talk to my children (under 18) about
my financial stress. ,739
FEF3 I feel better after I talk to my children
(under 18) about my financial stress. ,730
CH Compulsive Hoarding
1,078 6,432 0.629 CH1 I have trouble throwing things away,
even if they aren't worth much. ,750
CH2 Throwing something away makes me
feel like I am losing a part of myself. ,708
CH3 My living space is cluttered with
things I don't use. ,425
371
Even we are in a consumerism society the family still represent the base of society so the culture 372
cannot influence yet the family relation between members and involving also the children it is 373
important because they can get the significant information’s a nd parents behavior from an early 374
child age and they can be model future situation. 375
For financial enmeshment ( FEF) from Table 1 using the data base a value of 1.223 was obtain 376
and the most significant score was for item FEF 1 ‘’ I ask my children (under 18) to pass on financial 377
messages to other adults ’’ from here we can observed that traditional relations between family 378
members remains in each countries. 379
The low value as minimum value for compulsive hoarding (CH) of 1.078 item CH1 ‘’ I have 380
trouble t hrowing things away, even if they aren't worth much ’’ for both country it is important 381
because they are feeling attaché of the objects, situations and moments from their daily life and 382
give them memories of childhood and youth. 383

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4.1. Correlation between Tu rkey and Romania academic staff behavior and financial education 384
To test whether Affective Behavior (AB), Pathological Gambling (PG), Compulsive Buying 385
(CB), Financial Enabling (FE), Financial Enmeshment Family (FEF ), and Compulsive Hoarding (CH) , 386
score means differ according to country variable, the study hypothesis are as below in Figure 2. 387
The hypotesis are: 388
H0a: There is no difference between Turkish and Romanian academic staff's Affective Behavior 389
means 390
H0b: There is no difference between Turkish and Romanian academic staff's Compulsive Buying 391
means 392
H0c: There is no difference between Turkish and Romanian academic staff's Compulsive 393
Hoarding means 394
H0d: There is no difference between Turkish and Romanian academ ic staff's Financial Enabling 395
means 396
H0e: There is no difference between Turkish and Romanian academic staff's Financial 397
Enmeshment means 398
H0f: There is no difference between Turkish and Romanian academic staff's Pathological 399
Gambling means. 400
401
402
403
404
405
406
407
408
409
410
411
412
413
414
415
416
Figure 2. Hypothesis 417
Source: By authors 418
419
After determining the dimensions of the related scale, for each dimension, mean and the 420
standard deviations, we calculated for both countries Turkey and Romania like in Table 2 the values 421
for each country and establish which factor has big influence in academic staff money behavior. 422
Turkey has bigger values for financial enabling a value of 3.036, and for FEF financial 423
enmeshment a value of 2.502 in comparison with Romania which obt ain bigger values only for 424
compulsive behavior CB= 2.350 and compulsive hoarding CH=2.058. 425 FINANCIAL
ATTITUDE
CULTURE
COUNTRY
AFFECT IVE BEHAVIOR

COMPULSIVE BUYING
COMPULSIVE HOARDING
BEHAVIOR
FINANCIAL ENABLING
FINANCIAL ENMESHMENT
PATHOLOGICAL GAMBLING FINANCIAL
BEHAVIOR H oa
Hob
Hoc
Hoe Hod
Hof

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In conclusion Turkey has a different perception in money behavior in comparison with 426
Romanians academic staff. 427
But in both countries pathological gambling (PG) obt ains low score that’s mean that people don’t 428
like to assume risk especially financial or losing money just for fun. 429
430
Table 2. Means and Standard deviations of the sub factor related with each country. 431
Country Statistics AB CB CH FE FEF PG
Turkey
(n=300) Mean 2,069 2,232 2,316 3,063 2,502 1,401
S.Dev. 0,595 0,919 0,865 0,921 0,834 0,673
Romania
(n=172) Mean 1,740 2,350 2,058 1,616 1,424 1,188
S.Dev. 0,461 0,717 0,547 0,740 0,638 0,428
432
The results of independent samples t tests are given in Table 3 and indicates that there is a 433
statistically significant ( p<0.05) difference between the means of Affective Behavior (AB), 434
Pathological Gambling (PG), Compulsive Buying (CB), Financial Enabling (FE), Financial 435
Enmeshment Family (FEF), and Compulsiv e Hoarding (CH) scores of academicians. 436
437
Table 3. Results of independent samples t tests for Turkey and Romania 438
Variable t value Degrees of
Freedom p
AB -6.250 470 0.000
CB 1.446 470 0.149
CH -3.532 470 0.000
FE -18.648 470 0.000
FEF -14.649 470 0.037
PG -3.735 470 0.000
439
Consumption has led to the emergence of the new fashionable term for today's consumerism. 440
The compulsive hoarding problems arise as Jeffery’s and Moore [51] sustain when negative 441
attitudes arise in the relationship of consumption – the economy or in the relationship of acquiring 442
and throwing the goods without suffering. 443
This process is well managed most of the time, but for those who hide comp ulsively, this 444
process has a negative effect does not resist the need to acquire goods, which are sometimes 445
valuable and unable to discard even in the excess point that leads to crowded living spaces. 446
For both countries a low value -18.648 was obtain for F inancial Enabling (FE) followed by the 447
value of -14.649 for (FEF) Financial Enmeshment Family. A positive value the biggest score 1.466 448
was obtain for compulsive buying (CB). 449
To be able to identify the influence of each factor for academic staff from each country, and to be 450
capable t o determine the effects of CH, FE, FEF, PG on A ffective behavior (A B), regression analysis 451
applied to related data set and the results are given in Table 4 and Table 5. 452
Table 4 indicates that the regression models for Turkey a nd Romania a re statistically significant. 453
454
455

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Table 4. ANOVA Results of the Regression Analysis 456
Country Source Sum of Square df Mean Square F p
Turkey Regression 42,759 5 8,552 39,732 ,000
Residual 63,28 294 0,215
Total 106,039 299
Romania Regression 22,8061 5 4,561 55,486 ,000
Residual 13,646 166 0,082
Total 36,452 171
457
Table 5 also indicates that while for Turkish academicians, the effect of financial enabling ( FE) is 458
not statistically significant, for Romanian academician’s compulsive hoarding ( CH) and financial 459
enabling ( FE) is not sta tistically significant on their Affective Behaviors. 460
461
Table 5. Coefficients of the Regression model for both countries 462
Country Constant CB CH FE FEF PG
Turkey β 0,755 0,169 0,266 -0,025 0,091 0,121
t value 5,714 5,108 7,715 -0,835 2,786 2,762
p 0,000 0,000 0,000 0,404 0,006 0,006
Romania β 0,190 0,224 0,096 0,009 0,127 0,532
t value 1,804 5,665 1,975 0,220 3,170 7,982
p 0,073 0,000 0,050 0,826 0,002 0,000
463
As we can see from Table 5 academic staff from Turkey obtains a maximum value for t value of 464
7.715 for compulsive hoarding (CH) and an insignificant value of -0.835 for financial enabling. For 465
Romania the results are different the maximum values of 7.982 it is for pathological gambling (PG) 466
and the minimum score of 0,220 was obtain for financial enabling (FE). 467
We have to mention that for pathological gambling (PG) we take in consideration also the virtual 468
games and play station games which is very familiar especially now and when the paren ts spend 469
more time with their kids and play on com puter games very attractive and a way to spend free time 470
in and with family. 471
The low score for financial enabling (FE) present the same problem faced by both countries even 472
they have different culture and perception, that’s mean that the people interact yet with others needs 473
and desire and the feeling of doing well for others or making sacrifices for family and assurance a 474
financial health still remain a mentality and also a duty for both culture. 475
476
4.2. Reg ression model for Turkey and Romania 477
Related with Table 5 the regression model for Turkey (1) and Romania (2) is as below: 478
ÝTurkey = 0.755 +0,169 CB + 0,266 CH – 0,025 FE + 0,091 FEF + 0,121 PG (1) 479
ÝRomania = 0.190 + 0,224 CB + 0,096 CH + 0,009 FE + 0,127FEF + 0,532 PG (2) 480
The differences for each country are for compulsive buying point of view (CB), for Romania it is 481
0.224 bigger than the Turkey values which is 0.169 maybe because Romanians are spending more 482

Sustainability 2019 , 11, x FOR PEER REVIEW 15 of 20
time for shopping as a way to spend the weekend with family and enjoy together movies on cinema 483
mall’s giving them the feeling of spending time together and adapting step by step with the new 484
brand for consumerism society. 485
Also Romanians academic staff obtain bigger values score for finan cial enmeshment (FEF) of 486
0.127 in comparison with Turkeys academic staff with a value of 0.091 which present again some 487
differences of culture and behavior but here we must to take in consideration also the mother 488
status in some Romanians family where the responsibilities are equal and share with entire family. 489
Turkey academic staff obtains good score of 0.266 for compulsive buying (CB) which present an 490
oriental behavior specific for traditional family, to be dependent of family things and memories, a 491
sentimental and sensitive behavior of Turkey culture in comparison with Romanians who obtain a 492
value of 0.009 because the modern society model and transform the traditional concept of old 493
Romanians family. 494
495
4.3. Discussion 496
The results of the analysis indicat e that within the factors Affective Behavior (AB), Pathological 497
Gambling (PG), Compulsive Buying (CB), Financial Enabling (FE), Financial Enmeshment Family 498
(FEF), and Compulsive Hoarding (CH) the items ‘’ I often return ’’ items because ‘’I feel bad about 499
buying them ’’, ‘’I have to gamble with more and more money to keep it exciting ’’ ,’’ I feel irresistible urges to 500
shop’’, ‘’I sacrifice my financial wellbei ng for the sake of others ’’, ‘’I ask my children (under 18) to pass on 501
financial messages to other adults’’, ‘’I have trouble throwing things away ’’, even if they aren't worth much 502
are the most effective ones respectively. 503
According to t test results Turkey and Romania differs by Affective Behavior (AB), Pathological 504
Gambling (PG), Compulsive Buying ( CB), Financial Enabling (FE), Financial Enmeshment Family 505
(FEF), and Compulsive Hoarding (CH) when we examine the means of these behaviors, Turkish 506
academicians AB, CH, FE, FEF are greater than Romanians which means that they more return items 507
because they feel bad about buying them, they have much trouble throwing things away, even if 508
they aren't worth much . They sacrifice their financial wellbeing for the sake of others, and they ask 509
their children (under 18) to pass on financial messages to other adults then Romanians. 510
On the other hand even if there is no statistically difference for the Turkish and Romanian 511
academicians' compulsive buying (CB) means, Romanian academicians much feel irresistible urges 512
to shop than Turkish . 513
Another cultural difference i t is between Romanians pathological gambling perception ( PG) 514
means are greater than Turkish ones, which mean that, they have to gamble with more and more 515
money to keep it exciting and a way to spend free time. 516
Regression analysis indicate that on Affective Money Behaviors while CB, CH, FEF and PG are 517
statistically effective on Turkish academicians, on Romanians' CB, FEF and PG found statistically 518
significant. The regression coefficients also indicate that while CH is the most effective factor on 519
Turkish aca demicians' Affective Money Behaviors, PG is the most effective factor on Romanian 520
academicians' Affective Money Behaviors. 521
It's known that legally its forbidden to gamble in Turkey, however in recent years by the 522
developing internet technology, it’s a know n fact that Turkish people play gambling via internet. On 523
the other hand, they play sportive gambling with an increasing numbers. However, its free to play 524
gambling in Romania. Psychologically Romanians like much exciting activities and they consider 525

Sustainability 2019 , 11, x FOR PEER REVIEW 16 of 20
winn ing extra money for their family. Even if they think like that, they consider remaining in this 526
virtual world (gambling, sport bets, video games, card games) following the rule that always the 527
casa wins, but they lose much and much. Because of the earlier regime restrictions in Romania, the 528
new type of the society create a new type of consumer changing their behavior and became much 529
compulsive for buying items. 530
Because of Turkish people are more emotional, they make much connections with the old 531
(memorize) things and they feel trouble to put them away. On the other hand again Turkish are used 532
to thing the other people much then themselves, they are able to sacrifice their financial wellbeing 533
for the sake of others, and they consider the opinions of their ch ildren, related with their culture. 534
535
5. Conclusion 536
By the purpose of determining and comparing, the effective factors on affective money behaviors 537
of academic staff at Turkey and Romania, the study present that Romania is adapted to the new 538
global situat ions regarding the effect of the past and current. In Turkey, related with the traditional, 539
family and effect of earlier money behaviors, there are significant differences between Romania and 540
Turkey are presented in this study. 541
As a final conclusion t he ch anging of money attitude can be examined with the help of certain 542
available instruments or a new instrument can be developed to measure attitude towards money 543
social, cultural and economic settings that are different from the one for which the tools have been 544
developed already. 545
The study shows that there are still cultural influences in the way of thinking due to the 546
peculiarities and traditions specific to each country. These furtive influences also manifest in 547
relation to financial education. As society is in constant change, initiation in financial education 548
since high school could help develop the abilities of the young generation to inform it about how to 549
invest and equalize money. These abilities will also contribute to shaping the future citizen the 550
consumer of a society subject to constant change. 551
Financial education in Romania has become a need, recognizing that economic and financial 552
education helps young people to better manage their personal finances. Young people who have 553
received information a nd have notions of an economic nature are more confident in themselves, are 554
able to make better financial decisions and act responsibly as informed citizens. Financial education 555
is based on basic economic concepts and a way of thinking economically and is conceived as a 556
genuine program of financial knowledge 557
Basic knowledge education is needed to manage daily finances; the rest of the specialized areas, 558
such as investment or retirement planning, should be left by professionals. Certain research studies 559
have shown that there is a relationship between financial knowledge and financial behavior, but 560
causality is not clear. Financial education plays an important role in guiding individuals to achieve 561
their financial goals and to contribute to the economic well -being of society as a whole [ 51]. 562
The content of educational programs should focus on actions that effectively use the available 563
social resources and setting goals and planning to reach life goals. Assessing the effectiveness of 564
financial education for low -income consumers should not only increase knowledge acquisition but 565
also financial confidence and improvements in financial behaviors and results. 566
Information provided only by traditional financial education is likely to be insufficient to 567
improve the eco nomic well -being of consumers, especially those with low incomes, in the absence 568

Sustainability 2019 , 11, x FOR PEER REVIEW 17 of 20
of financial integration. Low -income consumers are more likely to need additional support for 569
actions such as financial products that support specific behavior, counseling, co aching or mutual 570
support, access to language services, child care, transport, etc. 571
It is therefore necessary to recognize the significant barriers faced by the population in terms of 572
financial soundness or anticipated financial behaviors so that public sys tems, legal processes and 573
public policies can help by creating additional barriers to certain financial behaviors. 574
On the basis of literature, Suciu et al [ 52], the study work has also identified the most important 575
principles of financial education that are illustrated by long -term active learning; 576
 orientation towards individual financial education; 577
 getting information on early economic education provided by both (schools) and 578
non-formal and informal training programs such as those offered by NGOs, 579
 identification and recognition of risks and financial problems. 580
This type of financial education can be done through different forms of financial education in 581
formal, non -formal, and developing to critical thinking, and comparative cultural analyzes being 582
chair beneficial. In Romania, financial education is, in most cases, part of the school curriculum, and 583
other social partners are interested, so banks are also interested in contributes to financial education. 584
and a society with stable financial health. Universities and staff could help schools carry out 585
financial activities, and curricula can also help develop their own financial education through 586
various programs. At regional level, local and regional institutions as well as universities as 587
important pillars in financial education through the long -term perspective could make a difference 588
for sustainable development and develop a strategy of development in which investment in lifelong 589
learning, business and financial education have a crucial role to play. 590
591
Limitation of the study 592
The primary limitation of the present study is that validity demonstrated a mong a sample of 593
academic staff from different countires may not generalize to the population at large. Another 594
limitation of the study is that the sample is not representative of the population at large. There is a 595
scope of investigation of development in the attitude towards money over the lifetime with specific 596
target from demografic point of view ( academic staff). 597
598
Author Contributions: S.S design the research, S.S. and B.G.D. provided the data collection and drafted the 599
manuscript. Both authors disc ussed the research, cooperated and approved the final manuscript. 600
Conflicts of Interest: The authors declare no conflict of interest 601
602
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