The Association between Age and Materialism in the U.S. by Socioeconomic Factors

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Sarah Rizky Ardhani
Sarah Rizky Ardhani

Hey! I’m an Economics-Psychology double major with a minor in Data Analysis at Wesleyan University (class of 2023). Outside of academics, I co-host Check-In Podcasts and am involved in Ungkapan Bisu (an initiative to spread awareness on sexual health). Fun fact: I’m the only Indonesian in my graduation class.

Abstract:

The global growth and increased prominence of materialistic values in American society are well established (Bartolini & Sarracino, 2017). And as materialistic values grow, questions arise as to who is the most vulnerable to materialistic tendencies. Two of the most frequently discussed explanatory variables of materialism are age and socioeconomic factors. Although there is a consensus that low relative socioeconomic status is commonly associated with higher materialism (Callan et al., 2017; Zhang et al., 2016), associations between age and materialism remain conflicting; bell-curve trend (Ersoy-Quadir, 2012) vs. U-shape trajectory (Jaspers & Pieters, 2016) vs. age as a stable trait. The present study aims to clarify these conflicting results using socioeconomic factors (viewed through three lenses) as a moderating variable.

Using the Financial Well-Being Survey data set, responses were examined using frequency tables, analysis of variance (ANOVA), and multiple linear regressions. Results show that, independently, age and socioeconomic factors seem to significantly correlate with materialism. However, its interaction effect was only significant for those in the Late Middle Adulthood group (ages 55-69) and only through the lens of federal poverty line status.

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