| Few things occupy as central a place in our lives as money. Although the study of money has a long intellectual history in the behavioral sciences, marketers and consumer researchers have seldom examined this important topic. The purpose of this dissertation is to identify and elaborate the meanings of money as seen by consumers as they earn, borrow, save, invest, budget and spend money in their everyday lives.;In the tradition of "grounded theory" I reconcile what I learned from consumers' money discourse with the research literature and propose a simple, four-concept framework for studying consumers' money actions. The framework is a major contribution of this dissertation. It offers a way of studying the interdependence of money actions by organizing particular money actions (acquiring, owning, disposing, earmarking) into a coherent set of actions called a money strategy.;Using the long interview method and a combination of symbolic research techniques, I elicited the meanings associated with the money strategies of 27 individuals. I provide a systematic representation of the thematic concepts patterned in these consumers' money-related thoughts, feelings, and behaviors. These meanings, inducted from consumers' talk about money, offer a deep exposition of how consumers view and use money.;In the next part of the study, I examine how these money themes are patterned in consumers' use of money. Abstracting from the details of consumers' personal money management styles, I find that groups of consumers share similar money orientations. My cross-case analysis produced six money orientations--making ends meet, providing for the family, building a financial base, enjoying retirement, seeking pleasure, and investing in self. Each of these money orientations consists of an integrated set of attitudes, beliefs, actions and ambitions that direct consumers' use of money across situations. I also provide evidence to suggest that consumers' money orientations are related to the social categories of the household life cycle. Over time, consumers may change their money orientation and develop new money strategies to adapt to their new circumstances or to plan for future events or life transitions. |
