Consumer Culture and Its Relationship to Saudi Family Financial Planning

Abstract

Family financial planning involves the family understanding future needs within a specific time frame and estimating the financial resources required. Also, potential opportunities and challenges must be considered in order to address them. Consumer culture also plays a fundamental role in shaping family financial behaviors and decisions. Therefore, this study aimed to study the relationship between consumer culture and financial planning for the Saudi family. This study relied on descriptive-analytical methods to achieve its aim. The study focuses on consumer culture and its relationship with family financial planning by studying economic, personal, social, and media factors. The study sample consisted of 457 individuals from Saudi families. Among the findings of this study is that social factors play the most significant role in determining and directing consumer culture. In addition, there is a significant role in directing the consumer towards purchasing a specific product. Finally, the researchers found the effective role of financial planning by setting a comprehensive budget for all the family’s needs, which contributes to ensuring the family’s financial well-being. This study recommends the necessity of holding meetings, seminars, and programs to introduce consumer influences and priorities, how to properly deal with them, and how to benefit from them. There is also a need to increase awareness campaigns in various media regarding the necessity of rationalizing consumption and the necessity of financial planning.

1. Introduction

The issue of consumption represents an intertwined societal issue with many dimensions, aspects, and factors, as it has become a threat not only to the individual and family but also to the national economy. However, it is not solely an economic issue but has social and cultural implications. Therefore, addressing and mitigating its impact requires collaborative efforts from family, educational, media, and religious institutions.

Consumption significantly impacts various economic variables, including production, income, saving, and other processes crucial for social and economic development. It holds a distinguished position in the development plans of developing countries, as it influences consumer decisions at both individual and societal levels [1].

Financial planning can be defined as creating a plan for the future, specifically regarding the management of finances and preparation for potential costs and issues. It is also a roadmap to help achieve goals. In addition, financial planning encompasses various aspects of finance, such as investments, taxes, savings, retirement, estate planning, insurance, and more.

Planning for managing family resources, including financial income, is one of the vital factors that help one react consciously, efficiently, and positively to situations and problems in all aspects of life [2,3]. Moreover, planning for financial income has become more urgent as methods and means of spending and consumption have increased, and the facilities accompanying them have varied. So, financial culture is an essential term that seeks to maintain current and desired living standards, and financial freedom also involves the effective use of knowledge and skills to manage financial resources throughout one’s life [4]. Therefore, the nature of family life at present and the economic conditions it is going through make every family think carefully about adapting its lifestyle and organizing spending as much as possible through the proper management of family resources, which helps them make good use of them to achieve their goals.

The current work seeks to study consumer influences and individual behaviors within the family, especially the Saudi family. It focuses on the importance of planning family income to appropriately meet the requirements of life.

1.1. Study Importance

Proper financial planning helps the family avoid many troubles and crises that may occur and contributes to reducing financing costs that do not necessarily fall upon them. Good financial planning works to rationalize financial expenditures on luxuries that can be reallocated at some point. Hence, we find that good financial planning is one of the characteristics of a conscious, modern, educated family that seeks to raise its standard of living. It also indicates the extent of society’s development, progress, and response to social, cultural, and economic variables. Hence, the importance of this study involves the following:

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Studying consumer influences that may contribute to changes in consumer patterns and behaviors within the Saudi family may expose it to economic crises that threaten its existence.

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Highlighting the importance of good planning for the family’s financial income in its various dimensions, as it is one of the main factors for achieving a positive trend towards consumer culture.

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Developing the family’s investment awareness and then contributing to the economic development of the family and society, considering the family as the fundamental pillar in determining the financial features of the family and the Kingdom.

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Embodying the ambition of Vision (2030) to raise the efficiency of spending and the use of resources while reducing waste by developing the capabilities of the Saudi family.

1.2. Study Problems and Its Questions

Consumption is not an individual problem but a social problem in which many human motives intervene. The culture of consumption and extravagance is an almost general phenomenon in Saudi society, and there is much evidence for this. For example, statistics emphasize the Saudi family’s extravagance and waste of foodstuffs. The field survey results of the Ministry of Environment, Water and Agriculture have shown that within the 2020 digital transformation program, the rate of food loss and waste in the Kingdom reached 33.1% [5].

Therefore, the study problem is that the culture of consumption in Saudi society (especially luxury) reflects how its members interact with global changes and how these changes shape their daily life practices. Many consumer influences in the Saudi family affect financial planning, which may lead to rational or irrational consumer behaviors depending on the level of planning. Hence, the problem of the study was to study consumer culture and its relationship to the financial planning of the Saudi family. The study problem is determined by answering the following questions:

Q1: What factors are associated with decision-making regarding family economics and budget management?

Q2: Are there differences in the responses of the main study sample to the financial planning scale according to gender, place of residence, education level, and income level?

1.3. Study Objectives

The main objective of this work is to study the relationship between consumer culture and financial planning for the Saudi family.

In addition to the main objective, there are sub-objectives:

To study the factors associated with decision-making regarding family economics and budget management.

To determine the relative importance and level of awareness of the aspects of financial planning for the Saudi family.

To study the differences in the responses of the basic study sample to the financial planning scale related to gender, place of residence, education level, and income level.

1.4. Study Hypotheses

Based on the objectives of this work, our hypotheses are the following

H1: 

There is a relationship between the axes of financial planning and the family consumption culture of the study sample members.

H2: 

There are some factors associated with decision-making regarding family economics and budget management. From this hypothesis, there are sub-hypothesis:

H2.1: 

There are significant differences in the factor of consumer culture and its relationship to family financial planning’s effect on consumer decision-making.

H2.2: 

There are significant differences in the nature of consumer culture that affect consumer decision-making.

H2.3: 

There are significant differences in the subjective, social, economic, and media factors affecting consumer culture.

H3: 

There are statistically significant differences in the responses of the study sample to the dimensions of the consumer culture scale and its relationship to family financial planning due to the variables gender, place of residence, education level, and income level.

1.5. Study Concepts

1.5.1. Consumption

Consumption means that part of one’s income is allocated to purchase consumer goods and services that satisfy needs and achieve benefits. Consumer spending constitutes the most significant portion of the total expenditure on goods and services produced in the national economy [6].

It is also defined as “a mental perception of a variable nature that is based on finding relationships between things, facts, events, and situations related to one of the components, relationships, factors, behaviors, or consumer phenomena, as it is classified based on similar characteristics between them and is formulated verbally” [7].

1.5.2. Consumer Behavior

Consumer behavior is a crucial aspect of human behavior. It encompasses the various activities and actions consumers engage in when searching for, evaluating, acquiring, using, and disposing of goods and services to meet their needs and desires. This also includes the decision-making processes involved [8].

It is defined as “an action that summarizes an individual’s purchasing various goods and services to satisfy some of the needs and desires that he feels, so he decides to buy them in specific quantities and at specific times” [9].

1.5.3. Financial Planning

Family financial planning is defined as a family’s awareness of the future requirements that it determines in a certain period and the estimation of the financial resources needed for them, along with a vision of the possibilities and circumstances that arise and ways to confront them [10].

2. Theoretical Framework and Literature Review

Social and economic influences play a significant role in shaping consumer behavior. Social factors such as family, friends, and others have a positive or negative impact on consumer culture. As we found, the economic development that society is going through has repercussions on consumption patterns.

The phenomenon of consumption has been observed by contemporary sociologists, including Thorstein Veblen, who have examined the phenomenon of consumption and emphasized the influence of social factors on consumption patterns. Veblen specifically highlighted the significance of social factors, particularly appearance-based consumption [11].

2.1. Factors Affecting Consumer Behavior

Many factors influence consumer behavior, so they can bring about a process of change in consumer trends. Their influence is direct and indirect, and they interact with each other to influence the final purchasing decision. These factors are determined by:

• Internal factors affecting consumption: Personality, perception, and consumer behavior. In addition to learning and motives, trends also play an essential role in determining the pattern of individual consumer behavior towards the various goods and services offered [12].
• Non-internal factors affecting consumption include price level and expectations. Moreover, imitation makes individuals purchase things they do not need, and social factors, such as age, marital status, and cultural and educational level, are all factors that affect the volume of consumption. The view of saving affects the volume of consumption and the pattern of income distribution among members of society [13].

Studies of consumption in sociology are relatively new, both at the local and global levels. Despite the prevailing belief in economics that increasing consumption is an indicator of economic recovery, this is not the case in sociology, psychology, and education, as sociological and anthropological research indicates multiple characteristics of consumer culture.

2.2. Literature Review

Based on this, we will discuss some studies related to the culture of consumption and family financial planning from a social perspective.

A study by Badir and Ragheb (2012) aimed to study consumer influences and their relationship to the trend toward strategic planning for family financial income in some Egyptian families (Cairo, Giza, and Qalyubi), which consisted of (220) female heads of families. The descriptive analytical method was used, and other tools were applied, such as the general family data form, the family consumption influence scale, and the strategic planning scale for family financial income. The results showed statistically significant differences between the members of the primary study sample in the impact of family consumption influences. Additionally, statistically significant differences were observed between the members of the basic study sample in the strategic planning of the family’s financial income according to the study variables. The results of the study also revealed a difference in the participation rates of independent variables in explaining percentages of variance in the dependent variable (strategic planning) [10].

A study by Mukhtar (2019) aimed to study the relationship between the level of family awareness of strategic planning for financial income and its impact on its stability in light of the Kingdom’s Vision 2030. The study relied on a descriptive-analytical approach and other tools, such as a form of general data and a measure of family awareness of strategic planning for financial income. The study sample consisted of (250) female heads of households who were deliberately selected from female heads of households. The results revealed that there are statistically significant differences in the level of awareness of the heads of households about strategic planning for financial income according to the differences in demographic variables. There is also a statistically significant correlation between the level of household knowledge about strategic planning for financial income and the study variables. It was also shown that the educational level is the most influential factor in explaining the percentage of participation in the awareness of female heads of households regarding strategic planning for financial income [14].

Others have analyzed the complex social phenomenon of consumption, specifically, how people often consume goods and services beyond their essential utility. One study identified five categories determining consumption patterns: prominent, symbolic, compulsive, and addictive. It also identified the key characteristics of consumer culture, such as transforming needs into desires and utilitarian needs. Additionally, the study explained the concept of consumer society, which revolves around conspicuous consumption, which leads to prestige and status. Lastly, it identified the primary factors driving the motives of consumer society on a global scale in recent decades [15].

The study by M. Oksana and K. Power (2013) aimed to identify the factors that affect consumer behavior in order to understand consumer behavior and the issues that must be paid attention to when developing social policies that address consumer behavior. The study emphasized that understanding consumer behavior is a challenging and complex task, and one of its most important results was that one of the most critical factors that affects consumer behavior is as follows: economic factors, represented by product marketing, innovation, technology, and social aspects, described by family systems that control consumption. The study emphasized that there is an interaction between all these factors [16].

Chi-Yue’s study (2014) focused on the connection between consumer behavior and culture, aiming to understand how culture influences consumer behavior. It presented a conceptual and empirical framework for comprehending this influence. The study proposed seven analytical steps to examine both the differences and similarities in consumer behavior between cultures as well as within cultures. Several steps can be taken to analyze consumption behaviors. First, it is important to identify the main components of a culture. Then, countries or regions can be classified based on differences and similarities in these behaviors. Next, these behaviors can be linked to the main cultural components. Specific hypotheses can be developed to understand the combined effects of different cultural components on consumption behaviors. Furthermore, one can monitor changes in consumption patterns within a country as a response to social and economic progress. Lastly, it is possible to formulate specific hypotheses to investigate how various cultural factors collectively influence changes in consumer behaviors within a country [17].

We find that financial well-being is one of the cultural factors that affects consumption behavior and plays an important role in consumer culture, as in Xue et al.’s (2020) study on the impact of consumption behavior and financial literacy on the financial well-being of retiree Australians. They used an established financial literacy index and examined how financial literacy directly affects the financial well-being of elderly Australians, both independently and in combination with consumption patterns. The findings reveal that elderly Australians generally have a positive outlook on their financial situation. Furthermore, the factors of age, education, and health have an impact on individuals who outright have higher levels of financial well-being. We also observe that financial literacy plays a significant role in improving financial well-being [18].

Al Rushoud, Saad 2022, explained in her work the different factors that affect the purchasing decisions of Saudi families. This study involves the family’s source of income and the factors that affect the decision. The descriptive-analytical approach was used. The findings of this work were that social factors influence consumer behavior and the development of consumer culture in society. These factors include the individual’s reference group, such as their family, which directly impacts their attitudes, behavior, and decisions. Additionally, psychological factors play a role in consumer behavior, particularly in Saudi society. Motivation plays a key role as individuals seek to fulfill their essential needs, which represents stability. She found that some families strive to meet other less critical needs, including well-being factors. Furthermore, consumer culture reflects a person’s values, beliefs, and philosophy, which can be studied from an educational perspective [19].

Alshebami, Ali, and Theyazn H. H., 2022 investigated the influence of social factors, specifically, parents and peers, on the financial literacy of young adult students in Saudi Arabia. Additionally, it examined the relationship between financial literacy and saving behavior and the role of self-control as a moderator in this relationship. The sample consisted of 270 male and female respondents from a college affiliated with King Faisal University. The results revealed several interesting findings. Firstly, both parental and peer influences positively impacted financial literacy. Secondly, financial literacy positively affects young people’s saving habits. Also, self-control was found to have a negative effect on the relationship between financial literacy and saving behavior [20].

2.3. Theoretical Models in Studying the Culture of Consumption

2.3.1. Economic Model

Economic Model of Adam Smith

This model is based on rationality, which is a fundamental element in consumer behavior. By examining the problems analyzed by Smith and drawing analogies to our own time, we can gain valuable insights into current monetary issues. The model takes into account an individual’s income and recognizes that when income is limited, the individual spends it to maximize the satisfaction of their needs and desires based on utility and prevailing prices. However, since the individual’s needs and desires are typically numerous and diverse while their income is limited, it is impossible to fully satisfy all of them. As a result, the individual naturally prioritizes and arranges their needs and desires in descending order of importance [21].

Economic Model of John Maynard Keynes

Keynes is considered the first person to put the relationship between consumption and income into integrated theoretical forms that were based on basic assumptions about consumption to analyze this phenomenon and make predictions about it. Keynes also emphasized the effect of income on consumption, as he considered it the primary determinant of consumption in the short term, meaning that the change in consumption in the short term is mainly due to the change in income. However, he believed that poor groups allocate the most significant portion of their income to consumption, which means a higher tendency to consume among poor groups than among rich groups. Hence, researchers began to take into account dimensions other than purely economic dimensions in their treatment of the issue of consumption [22].

2.3.2. Sociological Models

General (Global) Theory of Consumer Culture

The general and global theory of consumer culture comes as a reflection of economic and structural changes that began in advanced capitalist societies but soon included the entire world. The success of the theory was linked to the strategy it followed and the freedom of the lifestyle that one lives, and the industry has succeeded in transferring this consumer culture to the Third World, where the vast majority of the population lives. They have to embody it only at the level of perception [23].

The following theoretical models fall under the general theory of consumer culture [24]:

• Model of Consumption of Dreams, Images, and Pleasure: This model focuses on the role played by the media in spreading the culture of consumption.
• Consumption Production Model: This model takes the expansion of capitalist goods production as its starting point. Capitalist goods production leads to a massive accumulation in the production of material culture in the form of consumer products.
• Consumption Methods Model: This model focuses on the method of consuming the goods and the images manufactured on them, considering consumers’ tastes.

The Theory of the Specificity of Consumer Culture:

This theory believes that the culture of consumption is linked to particular social contexts, whether at the level of societies or within a single society.

The most prominent models that fall under the theory of the specificity of consumer culture are the following:

• Bourdieu’s Model of the Living Environment emphasizes linking culture to the social context or living environment in which the person exists [23].
• Veblen’s Model of the Luxury Class emphasizes that an individual’s consumer behavior is influenced by the society in which he lives as well as the social class to which he belongs [9].
• Zimmel and false individualism believes that excessive and exaggerated consumption allows individuals to distinguish themselves from others [25].

3. Methodology

The study methodology includes the scientific and procedural steps followed in implementing the study, as follows:

Study methods: The study relied on an integrated set of methods, including a set of quantitative measures related to the main variables in this study. Both descriptive and analytical methods were used. The study axes of the study tool focused on consumer culture and its relationship to family financial planning, economic factors affecting consumer culture, the nature of consumer culture, media factors affecting consumer culture, subjective factors affecting consumer culture, and social factors affecting consumer culture.

Data Collection: In the context of defining the problem of the study and its various aspects, data were collected from two sources, office data and field data.

Study population and its sample: The study population represents Saudi families in various regions of the Kingdom.

The study relied on selecting a deliberate sample of heads of households in these areas, taking into account the cultural, social, and economic differences between the study samples in these areas.

Study Limits:

Geographical limit: The geographical scope was a sample of Saudi families of different economic, social, and educational levels.

Time limit: This study was conducted from March to September 2023.

The human limit: The study sample consisted of 457 individuals from Saudi families. The demographic information of the samples according to the variables of gender, residence, marital status, education level, age, and income level is shown in

Table 1. Distribution of the study sample according to gender, residence, marital status, education level, age, and income level. N = 457.

Variable	Groups	No. of Samples	Percentage %
Gender	Males	253	55.36
	Females	204	44.64
Total		457	100
Residence	Popular Area	213	46.61
	Upscale Area	244	53.39
Total		457	100
Education Level	Less than University	137	29.98
	University	280	61.27
	Higher than University	40	8.75
Total		457	100
Income Level	Low	93	20.35
	Average	152	33.26
	High	212	46.39
Total		457	100

.

Statistical processing: The statistical program (SPSS) was used to analyze the obtained data.

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Ta test: used to ensure the significance of the statistical differences between the average scores of the respondents and the nominal average.

The nominal average of the expressions for each field was calculated according to the following equation:

$$\mathrm{The} \mathrm{Nominal} \mathrm{Average}=\frac{\mathrm{t}\mathrm{o}\mathrm{t}\mathrm{a}\mathrm{l} \mathrm{q}\mathrm{u}\mathrm{e}\mathrm{s}\mathrm{t}\mathrm{i}\mathrm{o}\mathrm{n}\mathrm{n}\mathrm{a}\mathrm{i}\mathrm{r}\mathrm{e} \mathrm{c}\mathrm{o}\mathrm{r}\mathrm{r}\mathrm{e}\mathrm{c}\mathrm{t}\mathrm{i}\mathrm{o}\mathrm{n} \mathrm{s}\mathrm{c}\mathrm{o}\mathrm{r}\mathrm{e}\mathrm{s}}{\mathrm{N}\mathrm{u}\mathrm{m}\mathrm{b}\mathrm{e}\mathrm{r} \mathrm{o}\mathrm{f} \mathrm{w}\mathrm{e}\mathrm{i}\mathrm{g}\mathrm{h}\mathrm{t}\mathrm{s}}=\frac{(1+2+3)}{\left(3\right)}=2$$

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The Pearson Correlation Coefficient was used to verify the internal consistency of the scale.

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Cronbach’s alpha coefficient was used to ensure the stability of the scale.

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The percentage weight for each statement, as well as the percentage weight for the field as a whole, was calculated according to the following equation:

$$\mathrm{Percentage} \mathrm{Weight}=\frac{\mathrm{A}\mathrm{r}\mathrm{i}\mathrm{t}\mathrm{h}\mathrm{m}\mathrm{e}\mathrm{t}\mathrm{i}\mathrm{c} \mathrm{M}\mathrm{e}\mathrm{a}\mathrm{n}}{\mathrm{T}\mathrm{h}\mathrm{e} \mathrm{l}\mathrm{a}\mathrm{r}\mathrm{g}\mathrm{e}\mathrm{s}\mathrm{t} \mathrm{r}\mathrm{e}\mathrm{s}\mathrm{p}\mathrm{o}\mathrm{n}\mathrm{s}\mathrm{e} \mathrm{i}\mathrm{s} \left(3\right)}$$

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The response rating score was calculated according to the arithmetic mean value as follows:

▪

If the arithmetic mean is from 1 to less than 1.66, the score is low.

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If the arithmetic mean is from 1.67 to less than 2.33, the score is average.

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If the arithmetic mean is from 2.34 to 3, the score is high.

4. Results

Table 2. AM, SD, weight %, ranking, and respondents’ estimation score of consumer culture and its relationship to family financial planning according to the overall axes, arranged in descending order.

Scale Axes	AM	SD	Weight%	Rank	Estimation Score
Consumer culture and its relationship to family financial planning	2.48	0.70	82.52	5	High
Economic factors affecting consumer culture	2.48	0.69	82.52	5	High
The cature of consumer culture	2.48	0.70	82.75	4	High
Media factors affecting consumer culture	2.50	0.69	83.49	3	High
Subjective factors affecting consumer culture	2.51	0.70	83.63	2	High
Social factors affecting consumer culture	2.53	0.69	84.31	1	High
Total	2.50	0.70	83.20	----	High

Source: authors, 2024.

shows the relationship between the overall axes of consumer culture and its relationship to family financial planning (H1). The values of the arithmetic mean (AM), standard deviation (SD), percentage weight (weight%), ranking, and respondents’ estimation score of consumer culture and its relationship to family financial planning according to the overall axes are represented in Table 2.

The previous table shows that the social factor has the first role in directing consumer behavior, as it ranked first with an AM of 2.53 and SD of 0.69. Next comes the self-factor and then the media. All factors influencing consumer culture received a high percentage, as shown in the previous table.

Determining the relationship between consumer culture and family financial planning (H2.1):

Table A1. Calculated t-value in the field of determining the relationship between consumer culture and family financial planning, arranged in descending order.

No. Statement	Agree	Neutral	Disagree	AM	SD	t-Value	Significance	Relative Weight	Rank	Estimation Score
Financial planning seeks to avoid indiscriminate disbursement, detect the existence of financial waste, and work to prioritize disbursement at every stage of the family	241	167	49	2.42	0.68	13.26	Significant **	80.67	10	High
Financial planning avoids spending as much as possible on consumer or luxury goods that can be dispensed with.	243	171	43	2.44	0.66	14.18	Significant **	81.25	9	High
Financial planning is not limited to parents but includes children. They need to be financially educated.	300	63	94	2.45	0.81	11.86	Significant **	81.69	8	High
Good family budget planning begins by developing a plan to spend on each family’s income, expenditure, and obligations.	265	139	53	2.46	0.69	14.29	Significant **	82.13	7	High
It is necessary for all family members to know the budget plan, as knowing this makes them more disciplined and responsible towards the process of rationing and limiting consumption.	274	125	58	2.47	0.71	14.23	Significant **	82.42	6	High
Financial planning ensures that the right amount of money is available in a timely manner in the future to achieve your specific financial goals.	259	160	38	2.48	0.65	16.01	Significant **	82.79	5	High
Financial planning seeks to consolidate the concept of taking responsibility of children by charging them part of the money disbursement management, which motivates them in the spirit of management.	259	162	36	2.49	0.64	16.33	Significant **	82.93	4	High
Financial planning helps to manage my money effectively and improve my financial decision-making; simple and complex.	327	32	98	2.50	0.82	12.99	Significant **	83.37	3	High
It also helps to control my finances and avoid improper decisions such as excessive borrowing or relying on others to manage my expenses.	281	125	51	2.50	0.69	15.62	Significant **	83.44	2	High
Financial planning that ensures that the consumer has a financial plan or budget defining expected expenditure and income.	275	151	31	2.53	0.62	18.39	Significant **	84.46	1	High
The field as a whole	N = 457			2.48	0.70	The nominal mean = 2		82.52	-	High

Source: Authors 2024. ** significant at (0.01) level.

shows the calculated t-value to indicate the differences between the AM and the nominal average of the degree of the respondents’ estimates in determining the relationship between consumer culture and family financial planning.

The results (Table A1, Appendix A) found that all paragraphs of the tool to find the relationship between consumer culture and financial planning have a significant effect. The paragraph related to financial planning, which ensures that the consumer determines expenses and revenues, was ranked first. This is followed by the paragraph about how planning helps avoid making wrong decisions. Hence, it is stated that financial planning helps to manage an individual’s or family’s money effectively, as the results show.

Nature of consumer culture (H2.2):

Table A2. Calculated t-value to determine the nature of consumer culture, arranged in descending order.

Phrase No.	Agree	Neutral	Disagree	AM	SD	t-Value	Significance	Relative Weight	Rank	Estimation Score
It is a group of methods that determine the nature of the prevailing consumer culture in society.	223	127	107	2.25	0.81	6.68	Significant **	75.13	8	Average
The sum of meanings, symbols, and behaviors accompanying the consumption process, starting from the desire to consume, through actual consumption, and ending with what comes after consumption.	270	71	116	2.34	0.86	8.42	Significant **	77.90	7	High
The concepts and ideas prevailing in a given society and related to a group of products that are appropriate to the nature of human consumption within a fixed intellectual system.	260	142	55	2.45	0.70	13.71	Significant **	81.62	6	High
It is a set of principles that rely on individual and social ideas in determining the nature of consumption for an individual or an entire family.	288	127	42	2.54	0.66	17.48	Significant **	84.61	5	High
The method through which an individual is influenced in his consumption behavior by purchasing goods and services.	286	132	39	2.54	0.65	17.83	Significant **	84.68	4	High
A lifestyle through which the individual carries out his daily consumption behavior in purchasing goods and services under the guidance of the social environment, groups of friends, family members, work colleagues, and the urban environment.	287	132	38	2.54	0.64	18.08	Significant **	84.83	3	High
The method through which people satisfy their needs and satisfy their desires is determined whether these needs are material, such as food, drink, and clothing, or symbolic, such as listening to music, reading, and watching.	331	48	78	2.55	0.77	15.41	Significant **	85.12	2	High
The values and trends that drive people to adopt one or another consumption method.	311	129	17	2.64	0.55	24.92	Significant **	88.11	1	High
The field as a whole	N = 457			2.48	0.70	The Nominal Average = 2		82.75	-	High

Source: Authors 2024. ** significant at (0.01) level.

shows the calculated t-value to indicate the differences between the arithmetic mean and the nominal average of the respondents’ estimation score which determines the nature of consumer culture.

The calculated t-value and other parameters are shown in Table A2, Appendix A. The results show that all the tool’s items received a high rating and are significant, except for the item dealing with the existence of a set of methods that determine the nature of the prevailing consumer culture in society, which received an average rating, as shown in Table A2, Appendix A

Monitoring the subjective, social, economic, and media factors affecting consumer culture (H2.3):

Table A3. Calculated t-value for the field of monitoring the subjective factors affecting consumer culture, arranged in descending order.

No. Statement	Agree	Neutral	Disagree	AM	SD	t-Value	Significance	Relative Weight	Rank	Estimation Score
The nature of the consumer influences: their beliefs, socio-economic class, shopping and purchasing experiences, and ability to learn in consumer decision.	254	109	94	2.35	0.80	9.35	Significant **	78.34	7	High
Consumer confidence in a particular commodity increases when the commodity producer succeeds by giving a positive picture of their commodity.	283	65	109	2.38	0.85	9.63	Significant **	79.36	6	High
Purchasing position, which is represented by the financial and social conditions associated with the place of consumption.	246	157	54	2.42	0.69	12.95	Significant **	80.67	5	High
Characteristics and nature of producers and sellers.	260	141	56	2.45	0.70	13.59	Significant **	81.55	4	High
Quality of the commodity and its services and the price and benefits resulting therefrom affect the consumer’s decision to purchase the commodity.	297	125	35	2.57	0.63	19.41	Significant **	85.78	3	High
Consumers’ beliefs, social and economic class, experiences in shopping and buying, and ability to learn to influence consumer decisions.	343	33	81	2.57	0.77	15.82	Significant **	85.78	3	High
The nature of the commodity in terms of its availability, quality, and necessity	311	113	33	2.61	0.62	21.00	Significant **	86.94	2	High
When time is tight, consumers choose commodities that need no scrutiny and effort other than their choice of commodity if they have time.	339	107	11	2.72	0.50	30.61	Significant **	90.59	1	High
The field as a whole	N = 457			2.51	0.70	The nominal mean = 2		83.63	-	High

Source: Authors 2024. ** significant at (0.01) level.

,

Table A4. Calculated t-value for the field of monitoring the social factors affecting consumer culture, arranged in descending order.

No. Statement	Agree	Neutral	Disagree	AM	SD	t-Value	Significance	Relative Weight	Rank	Estimation Score
Social habits play a role in consumer culture.	286	95	76	2.46	0.76	12.87	Significant **	81.98	8	High
Family members are consulted before making any purchase or spending decision.	257	163	37	2.48	0.64	16.02	Significant **	82.71	7	High
Social relations play a role in the appearance of consumption.	275	128	54	2.48	0.70	14.81	Significant **	82.79	6	High
Socialization plays a role in acquiring the skill of economy in consumption.	318	50	89	2.50	0.80	13.38	Significant **	83.37	5	High
The place of residence affects the culture of consumption both in high-end and remote areas.	332	44	81	2.55	0.78	15.12	Significant **	84.97	4	High
Family traditions have a direct impact on consumer culture.	298	115	44	2.56	0.66	17.90	Significant **	85.19	3	High
Purchasing decisions depend on other people’s opinions of knowledge and friends.	298	133	26	2.60	0.60	21.34	Significant **	86.51	2	High
The trend of consumption changes according to the desire of the surrounding and close to the family.	303	129	25	2.61	0.59	22.03	Significant **	86.94	1	High
The field as a whole	N = 457			2.53	0.69	The nominal mean = 2		84.31	-	High

Source: Authors 2024. ** significant at (0.01) level.

,

Table A5. Calculated t-value of the field of monitoring the economic factors affecting consumer culture, arranged in descending order.

No. Statement	Agree	Neutral	Disagree	AM	SD	t-Value	Significance	Relative Weight	Rank	Estimation Score
Banks’ facilities and loan facilitation increase the trend toward consumption.	300	35	122	2.39	0.88	9.47	Significant **	79.65	8	High
High level of Saudi society’s GNI affects consumer culture.	243	152	62	2.40	0.72	11.84	Significant **	79.87	7	High
Family budget has a major role in determining an individual’s consumer culture.	237	173	47	2.42	0.67	13.26	Significant **	80.53	6	High
The temptations offered by traders drive the individual towards consumption.	325	34	98	2.50	0.82	12.87	Significant **	83.22	5	High
Pocket money plays a major role in determining an individual’s consumption culture.	272	141	44	2.50	0.67	16.01	Significant **	83.30	4	High
Poor standard of living hinders family consumption.	269	156	32	2.52	0.62	17.24	Significant **	83.95	3	High
The preoccupation with acquiring everything new in the markets affects consumer culture.	303	97	57	2.54	0.71	16.29	Significant **	84.61	2	High
The availability of goods with international brands in Saudi markets affects the consumer culture of the individual.	301	107	49	2.55	0.68	17.33	Significant **	85.05	1	High
The field as a whole	N = 457			2.48	0.69	The nominal mean = 2		82.52	-	High

Source: Authors 2024. ** significant at (0.01) level.

and

Table A6. Calculated t-value of the field of monitoring the media factors affecting consumer culture, arranged in descending order.

No. Statement	Agree	Neutral	Disagree	AM	SD	t-Value	Significance	Relative Weight	Rank	Estimation Score
Daily commodity publicity and promotion through the media affects an individual’s consumer culture.	227	183	47	2.39	0.67	12.62	Significant **	79.80	8	High
Ensure the acquisition of international brands on which advertising focuses.	323	22	112	2.46	0.86	11.47	Significant **	82.06	7	High
Simulation and imitation of other people’s behavior in society may determine an individual’s consumer culture.	261	150	46	2.47	0.67	14.97	Significant **	82.35	6	High
Easy access to goods through modern technology such as live shopping via TV channels and the Internet determines an individual’s consumer culture.	269	154	34	2.51	0.63	17.39	Significant **	83.81	5	High
Obsession with acquiring everything new via marketing sites.	299	99	59	2.53	0.71	15.74	Significant **	84.17	4	High
A desire to mimic foreign societies may affect an individual’s consumer culture.	281	141	35	2.54	0.63	18.14	Significant **	84.61	3	High
Providing offers, alternatives, and temptations to goods may change an individual’s consumer culture.	304	106	47	2.56	0.67	17.87	Significant **	85.41	2	High
The emergence of direct marketing and the availability of home delivery policies may affect an individual’s consumer culture.	299	120	38	2.57	0.64	19.02	Significant **	85.70	1	High
The field as a whole	N = 457			2.50	0.69	The nominal mean = 2		83.49	-	High

Source: Authors 2024. ** significant at (0.01) level.

show the calculated t-values that reflect the differences between the calculation averages and the averaging of the investigators’ estimates in the different fields.

The results tabulated in Table A3, Appendix A show that the items of this tool related to the subjective factor influencing consumer culture are all highly rated with significance. The paragraph related to the fact that if the consumer does not have enough time to choose a product, then he does not need to check the type of product and quality, and it received first-rating. Looking at the social factor, we find that all the tool items in (Table A4, Appendix A) received a high rating and are significant. This also applies to the economic and media factors, where all the tool items listed in Table A5 and Table A6, Appendix A received a high rating.

Results for H3: There are statistically significant differences between the average scores of the respondents on the dimensions of the consumer culture scale and their relationship to family financial planning due to the variables of gender, place of residence, education level, and income level.

Table A7. Results of the t-test for the significant differences between respondents in the dimensions of the consumer culture scale. Its relationship with family financial planning is due to the gender variable.

Questionnaire Axes	Groups	No.	AM	SD	t-Value	Degree of Freedom	Significance
The nature of consumer culture	Males	253	19.87	2.78	0.049	455	Not significant
	Females	204	19.85	2.77
Subjective factors affecting consumer culture	Males	253	20.02	2.80	0.420	455	Not significant
	Females	204	20.13	2.91
Social factors affecting consumer culture	Males	253	20.39	2.25	1.599	455	Not significant
	Females	204	20.04	2.32
Economic factors affecting consumer culture	Males	253	19.92	2.58	1.096	455	Not significant
	Females	204	19.66	2.43
Media factors affecting consumer culture	Males	253	20.19	2.27	1.666	455	Not significant
	Females	204	19.84	2.19
Consumer culture and its relationship to family financial planning	Males	253	24.96	2.70	1.768	455	Not significant
	Females	204	24.50	2.73

Source: Authors 2024.

,

Table A8. Results of the t-test for the significant differences between respondents in the dimensions of the consumer culture scale and its relationship with family financial planning due to the variable place of residence.

Questionnaire Axes	Groups	No.	AM	SD	t-Value	Degree of Freedom	Significance
The nature of consumer culture	popular area	213	19.82	2.86	0.276	455	Not significant
	upscale area	244	19.89	2.70
Subjective factors affecting consumer culture	popular area	213	20.42	2.87	2.487	455	Significance
	upscale area	244	19.76	2.79
Social factors affecting consumer culture	popular area	213	20.41	2.32	1.526	455	Not significant
	upscale area	244	20.08	2.24
Economic factors affecting consumer culture	popular area	213	19.72	2.61	0.653	455	Not significant
	upscale area	244	19.88	2.44
Media factors affecting consumer culture	popular area	213	20.16	2.18	1.134	455	Not significant
	upscale area	244	19.93	2.29
Consumer culture and its relationship to family financial planning	popular area	213	24.81	2.71	0.386	455	Not significant
	upscale area	244	24.71	2.74

Source: Authors 2024.

,

Table A9. Results of the t-test for the significant differences between respondents in the dimensions of the consumer culture scale and its relationship with family financial planning due to the variable education level.

Questionnaire Axes	Groups	No.	AM	SD	t-Value	Degree of Freedom	Significance
The nature of consumer culture	Less than University	137	19.87	2.41	0.242	455	Not significant
	University	280	19.81	2.02
	Higher than University	40	19.65	2.32
Subjective factors affecting consumer culture	Less than University	137	19.17	2.31	0.345	455	Not significant
	University	280	19.94	2.21
	Higher than University	40	20.1	2.54
Social factors affecting consumer culture	Less than University	137	19.23	2.97	2.54	455	Significant
	University	280	20.1	2.88
	Higher than University	40	20.23	2.98
Economic factors affecting consumer culture	Less than University	137	19.93	2.95	2.63	455	Significant
	University	280	20.61	2.48
	Higher than University	40	20.25	2.48
Media factors affecting consumer culture	Less than University	137	19.84	2.23	0.342	455	Significant
	University	280	19.32	2.11
	Higher than University	40	20.21	2.39
Consumer culture and its relationship to family financial planning	Less than University	137	19.33	2.43	2.85	455	Significant
	University	280	20.48	2.65
	Higher than University	40	20.32	2.95

Source: Authors 2024.

and

Table A10. Results of the t-test for the significant differences between respondents in the dimensions of the consumer culture scale and its relationship with family financial planning due to the variable income level.

Questionnaire Axes	Groups	No.	AM	SD	t-Value	Degree of Freedom	Significance
The nature of consumer culture	Low	93	19.91	2.27	1.42	455	Not significant
	Average	152	19.87	2.17
	High	212	20.21	2.31
Subjective factors affecting consumer culture	Low	93	19.66	2.34	1.33	455	Not significant
	Average	152	19.85	2.21
	High	212	20.34	1.98
Social factors affecting consumer culture	Low	93	20.31	2.98	2.81	455	Significant
	Average	152	20.44	2.78
	High	212	19.76	2.65
Economic factors affecting consumer culture	Low	93	19.77	2.97	2.98	455	Significant
	Average	152	20.21	2.85
	High	212	20.32	2.68
Media factors affecting consumer culture	Low	93	19.98	2.69	2.85	455	Significant
	Average	152	19.88	2.76
	High	212	19.78	2.54
Consumer culture and its relationship to family financial planning	Low	93	20.32	2.57	2.56	455	Significant
	Average	152	20.11	2.45
	High	212	19.94	2.84

Source: Authors 2024.

in Appendix A illustrate the significant differences related to these variables.

5. Discussion

It is clear from Table 2 that the respondents’ estimation of consumer culture and its relationship with family financial planning according to the overall axes from the respondents’ viewpoint was high. The ranking of factors influencing consumer culture and its connection to family financial planning is as follows: social factors are the primary determinant, followed by personal factors, media factors, the nature of consumer culture, and economic factors. Additionally, the role of consumer culture in family financial planning is considered in both the fields of consumer culture and economic factors. This supports the first hypothesis, which indicates that there is a relationship between all the axes of the tool. All of the axes obtained a high rate; however, it varied from the first to the fifth rank. The social axis is considered to have the first influence on consumer decisions, especially among families within the Kingdom, where the primary reference is the parents, and then friends strongly influence the decisions to choose a product, as one study explained [26]. It also showed that the role of friends plays the first role in this because of the closeness in age or culture, and these agreed with the results of another study [27].

Table A1 shows that the field of evaluating the relationship between consumer culture and family financial planning received a high rating, and phrases in this field received high ratings. The phrase “financial planning that ensures that the consumer has a financial plan or budget defining expected expenditure and income” received the first rank, as financial planning, encompassing the development of a comprehensive budget, plays a pivotal role in ensuring the financial well-being of consumers. By establishing clear financial goals, adhering to a structured budget, and embracing adaptability, individuals can proactively manage their finances, mitigate stress, and lay the groundwork for a secure financial future. By implementing sound financial planning principles, consumers can confidently navigate economic challenges and achieve their long-term aspirations, as is consistent with research [28,29]. It has also been found that there is a good relationship between financial culture and financial planning that helps to develop a financial culture that encourages good financial management and has an effective role in financial planning. This result was consistent with some studies [4,14,30].

In the field of the nature of consumer culture (Table A2), it possesses a high rank with AM 2.48 and SD 0.70. The item related to trends holds first rank in this field while the item related to the way and the method used in prevailing consumer culture in society holds the last rank. Habits, trends, and behaviors have a substantial effect and impact on consumer culture, and the results of our work also showed consistency with the study [31].

The results show that in the field of monitoring, the subjective factors affecting consumer culture (Table A3) received a high rate with AM 2.51 and SD 0.70, the paragraph related to the consumer not having sufficient time to choose the commodities received the first rank, while the paragraph pertaining to consumer beliefs and consumer socioeconomic status received the last rank. Time is a fundamental factor that significantly impacts the consumers’ choices when selecting commodities. One of the most evident impacts of time on consumer choices is the concept of time scarcity. This is actually what the results of our study concluded, as it was found that the consumer sometimes does not find enough time to choose the appropriate product or to research for the best product among multiple products. Therefore, we find that when individuals feel a lack of time, they often resort to making quick and sometimes reckless decisions. We find that some studies [31,32] which focused on this trend showed that several factors have a positive or negative role that can affect the consumer’s decision, including time.

In the field of the assessment of social factors affecting consumer culture (Table A4), the paragraph related to the effect of surroundings on the consumer received the first rank. This is what we actually find through life experiences, where the presence of other people, such as friends, family, or sometimes shoppers around us in the same place, can affect our purchasing decisions and choices of goods or other products. This result is supported by other studies [15,31,33,34], which show how the environment, such as friends and family, can influence the consumer’s opinions and decisions and sometimes change his perspective from one product to another. These studies have also shown that other factors, such as life cycle stages, motivation, and perceptions, can affect consumer purchasing behavior. In addition, we find that the environment surrounding the consumer has an important role in influencing his purchasing decisions. Furthermore, social factors can significantly impact the country’s overall financial sector as well [35].

In the field of evaluating the economic factors affecting consumer culture, the results showed that it obtained a high rating. Moreover, all phrases in this field received a high rating (Table A5). We found that the phrase “The availability of international brand goods in Saudi markets affects the consumer culture of the individual” ranked first in this field. Through our research, we found that trademarks and international brands clearly impact the consumer culture of individuals, through which the consumer can change the purchase of a specific product to another product of the same brand. Other economic factors can include individual or family income; purchasing power; price inflation, or sometimes decline; and taxes. All of these factors impact consumer culture and buying trends. Economic factors also shape how individuals and societies consume and define their identities through the products they buy. Economic factors play a pivotal role in shaping consumer behavior. In the Kingdom of Saudi Arabia, such trends, brands, and other trends have been of special importance in consumer culture. Many economic factors can directly and indirectly affect Saudi consumers’ purchasing decisions and consumption patterns, as demonstrated by a study [36].

In addition to the previous factors, we find that the media has a role in directing the consumer toward purchasing a specific product and also works on shaping the consumer’s perceptions and decisions towards purchasing products. Social media platforms, digital media, and the Internet play a major role in determining consumer trends and their impact on consumer behavior. The use of a product by celebrities also affects the consumer’s opinion of buying that product and imitating foreigners, as confirmed by the results of this research. It is also found that the offers and temptations offered by a particular company for a product on television, for example, play a role in directing consumer culture, which confirms the validity of the hypothesis of the positive role of the media towards purchasing products and goods. This result is consistent with studies [37,38,39] that explained the role of television media in buying products and highlighting a specific brand. The emergence of digital media plays an important role in consumer culture, and various media are powerful tools for brand promotion, influencer marketing, and consumer engagement. Influencers and content creators have become pivotal in shaping consumer perceptions, endorsing products, and driving purchasing behavior. The emergence of e-commerce platforms has also given consumers easy access to a wide range of products and services. The home delivery service of these purchased products provides a positive and significant role for the purchase of these products, and this is also what supported our hypothesis towards the positive trend and the effective role of the media in consumer culture. We also find that some studies [40,41] demonstrated the effective role of the media in purchasing goods.

In the results that we reached to verify the third hypothesis, it was found that the gender variable and place of residence did not affect the principal axes of this study. The variables of education level and income showed statistically significant differences in most aspects of the study, except the nature of the consumer and the subjective factor, which did not show any statistically significant differences. Educational level plays a role in shaping consumer culture. We often find that individuals with higher levels of education have distinct consumer behaviors and views toward specific products. We find that this group, with a high level of education, is distinguished by their preference to buy sustainable products of the best quality. People with a lower level of education may sometimes show the opposite. This is what the results of this study showed and was supported by some studies [42,43], as the rate of financial literacy increases with the level and quality of education. Another study also revealed a relationship between consumers’ educational attainment and various demographic characteristics, such as age, gender, and qualifications, when purchasing products [44], consistent with our current study under investigation (Table A7, Table A8, Table A9 and Table A10).

6. Conclusions

Consumer behavior plays a crucial role in household financial planning. Understanding how consumers decide which product to purchase can significantly impact a family’s financial well-being. Our main goal was to study the relationship between consumer culture and financial planning for the Saudi family. Through our results, we arrived at answers to the study’s questions and learned about the most critical factors that have a role in consumer behavior and culture. The most important influencing factors were social and economic factors, as well as media factors. Social factors had the largest share in influencing consumer trends and decisions. Each of the other factors also played a role in influencing the decision to purchase in one way or another. The study also showed the effective role of financial planning by setting a comprehensive budget for all the family’s needs, which contributes to ensuring the family’s financial well-being. All of this supported the hypotheses of the first and second studies. Moreover, among the results we reached, there were no statistically significant differences regarding the variables of gender or place of residence, which are related to the study scale and its axes, and this contradicted part of the third hypothesis. The other part of this hypothesis agreed that educational and income levels on the study axes represented significant differences. A good education and income level affect the consumer’s decisions and attitudes towards products, as he always seeks to find the best product with the highest quality. Finally, we can say that consumer behavior and culture effectively contribute to good financial planning, which contributes to the family’s well-being, reduces some suffering, and helps with saving, spending, etc.

7. Recommendations

Based on the above finding, the researchers recommended the following:

−

Urge the media to publish programs urging the importance of strategic planning for family financial investment.

−

Conduct meetings, seminars, and programs to introduce consumer influences, their priorities, how to deal with them properly, and how to benefit from them.

−

Increase awareness-raising campaigns in the various media about the need to rationalize consumption and the necessity for financial planning.

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Parents in general and mothers in particular must be role models for their children in adopting rational consumption behavior.

−

Educational institutions, represented by schools, universities, and religious and media institutions, must carry out their role in implementing awareness campaigns about the danger of ostentatious consumer behavior to society and how it is inconsistent with the teachings and principles of the Islamic religion, which calls for moderation and the absence of extravagance and extravagance.

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Develop a proposed vision to reduce the phenomenon of excessive family consumption in Saudi society.