Leiden University Student Repository

Guijarro Parra, Irene (2022)

Spotting Shame and Stigma in Seeking Financial Advice: The impact of financial shame and financial stigma on people’s behavior and perception towards an organization

Master thesis | Psychology (MSc)

The primary goal of the present study is to investigate whether reducing feelings of financial shame and financial stigma increases the willingness to seek financial support. To do so, two websites from the same organization offering financial support were designed. The first used neutral wording, whereas the second included language that aimed to reduce feelings of financial shame and financial stigma. Although results showed that the willingness to contact the organization was not significant between conditions, we found that participants visiting the modified website were more willing to recommend the organization to relatives and friends experiencing financial hardship than those on the neutral condition. Additionally, we found that participants visiting the modified website perceived the organization as more supportive and trustworthy and showed more adaptive coping mechanisms regarding their own financial situation. Lastly, results revealed that participants experiencing...Show moreThe primary goal of the present study is to investigate whether reducing feelings of financial shame and financial stigma increases the willingness to seek financial support. To do so, two websites from the same organization offering financial support were designed. The first used neutral wording, whereas the second included language that aimed to reduce feelings of financial shame and financial stigma. Although results showed that the willingness to contact the organization was not significant between conditions, we found that participants visiting the modified website were more willing to recommend the organization to relatives and friends experiencing financial hardship than those on the neutral condition. Additionally, we found that participants visiting the modified website perceived the organization as more supportive and trustworthy and showed more adaptive coping mechanisms regarding their own financial situation. Lastly, results revealed that participants experiencing higher feelings of financial stigma perceived the organization as less competent.Show less

Financial shame, financial stigma, financial advice, organization attractiveness, competence, warmth, morality, behavioral intention, contact, recommendation, active coping.

Author

Guijarro Parra, Irene

Faculty

Faculty of Social & Behavioural Sciences

Specialisation

Economic and Consumer Psychology

Supervisors

Dijk, W. van

ECTS Credits

20

Language

en