Teaching Children to Save: What is the Best Strategy for Lifetime Savings?

Bucciol, Alessandro; Veronesi, Marcella

doi:10.2139/ssrn.2356179

Cited by 28 publications

(49 citation statements)

References 24 publications

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“…Saving behaviour traces from social commitment of relatives in some individuals' life, more often parents. Parental teaching contributed at development of financial education that can improve saving process [18]. Also, it seems that commodity price uncertainty affects saving behavior and welfare in a dynamic model.…”

Section: Exploring Individual Financial Responsibility For Savings -Imentioning

confidence: 99%

Contemporary Aspects of Financial – Banking Responsibility

Bratu

2020

KSS

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We all as individuals have responsibility for any decisions, in terms of time, value and risk. In time, the system in which we are evolving requires different behaviors that are in alignment with our interests, as individuals, as organizations or as institutions. The paper brings into attention the concept of financial responsibility manifested in financial – banking environment, as a concept and as a species of financial education (or literacy). The main aim of this article is to evaluate the awareness, the manifestation and the importance of financial responsibility in Romania. The primary results reveal the fact that financial responsibility can improve the positive effects on individual’s welfare, and also the good impact that the financial system has on market economy. Moreover, here it is also evaluating the impact of financial education on the financial responsibility manifestation, as well as the theoretical interdependence ratio between those two terms – financial responsibility and financial education/literacy. Keywords: financial – banking responsibility, moral hazard, financial education.

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Section: Exploring Individual Financial Responsibility For Savings -Imentioning

confidence: 99%

Contemporary Aspects of Financial – Banking Responsibility

Bratu

2020

KSS

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“…Pocket money is the income that the student receives from a parent or guardian [7]. In practice, children are given the freedom to do whatever they want [21], such as spending money, managing money, saving, or for social activities [13]. This freedom is expected to shape the financial ability of their experience [5].…”

Section: Literature Reviewmentioning

confidence: 99%

“…The management of pocket money is a study of financial management [22], which can be determined from the following activities. First, the planning before using the pocket money [13]; to avoid financial crisis problems now and later [21]. Second, keeping incoming and outgoing money [23]; is the first step to get used to a positive routine.…”

Section: Literature Reviewmentioning

confidence: 99%

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The Management of Student’s Pocket Money

Vhalery¹,

Aimon²,

Yulhendri³

2018

Preprint

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The purpose of this study is to clarify the factors that influence the management of students' pocket money directly and indirectly in Air Tawar Padang City. A sample of 344 students consisting of 130 students and 214 high school students was obtained by completing the questionnaire. The results show that the family environment, peers, gender and self-control have positive and significant effect on the management of students in Padang City

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“…US‐based and international studies published in English were included when they used samples of children and adolescents (≤age 18) or young adults (≤age 40). An exception was made for a recent study by Bucciol and Veronesi () that analyzed savings for sample ages 21 to 80. Bucciol and Veronesi () made predictions based on age and produced results that were specific to young adults, even though the age range of their sample extended across the life course.…”

Section: Review Of Research On Young People's Savingsmentioning

confidence: 99%

Young People Are the Front Lines of Financial Inclusion: A Review of 45 Years of Research

Friedline¹,

Rauktis²

2014

Journal of Consumer Affairs

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Amidst concerns about percentages of households that remain unbanked or underbanked, policy endeavors have emerged to promote financial inclusion by making financial products such as savings accounts readily available. While these endeavors have primarily concentrated on households, young people may be the front lines of financial inclusion because they may be more likely to be banked in young adulthood and beyond when they start off with savings accounts earlier in life. This article addresses young people's financial inclusion by comprehensively reviewing 60 research studies on young people's savings, discussing the role of the family in young people's financial inclusion, discussing financial inclusion from an institutional perspective, presenting policy implications, and identifying gaps in knowledge and opportunities for research. Policies that open savings accounts for young people early in life may be a promising strategy for extending financial inclusion and preventing unbanked or underbanked status later in life.

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Teaching Children to Save: What is the Best Strategy for Lifetime Savings?

Cited by 28 publications

References 24 publications

Contemporary Aspects of Financial – Banking Responsibility

Contemporary Aspects of Financial – Banking Responsibility

The Management of Student’s Pocket Money

Young People Are the Front Lines of Financial Inclusion: A Review of 45 Years of Research

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