The relationship between the locus of control orientation and the economic behavior of the personality

The article presents theoretical and empirical studies of the relationship between the locus of control orientation and the economic behavior of the personality. During the theoretical analysis of scientific literature containing information about the locus of control it was revealed that the internal locus of control is associated with responsibility, social maturity and positive self-esteem. Internals cope better with stress and adapt and they also have fewer mental health problems. Economic behavior was understood as human activity, which is caused by economic incentives and is aimed at satisfying their needs with the use of limited resources. As a result of a theoretical study of the relationship between the locus of control orientation and the economic behavior of the personality it was revealed that the internal locus of control plays an important role in financial planning and in the creation of savings. However, in the stock market, the internal locus of control can have a negative impact when making investment decisions. The article presents an empirical study, the purpose of which was to identify the relationship between the relationship between the locus of control orientation and the economic behavior of the personality. The study was conducted on the basis of the social network “Vkontakte”. It was attended by 37 people aged 18 to 68 years, of which 6 men and 31 women. The questionnaire of Bazhin, Golynkina, and Etkind “The level of subjective control” and the author’s questionnaire aimed at identifying the features of economic behavior were used. Based on the conducted empirical research the following conclusions were made: internals most often try to save money when buying goods; internals have savings for a “rainy day” when, as externals, they do not create savings; internals, unlike externals, prefer to carry out financial planning.

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