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Does Saving Education Received From Parents Make Adults More Future-Oriented?

Author

Listed:
  • Alessandro Bucciol

    (Department of Economics (University of Verona))

  • Luca Zarri

    (Department of Economics (University of Verona))

Abstract

In this paper, we use data from the DNB Household Survey (DHS), annually covering the period 1996-2015, to shed light on the relationship between informal saving education received when children or adolescents and two variables aimed to capture adult individuals’ concerns for their future: planning horizon and future orientation. Our results indicate that informal saving correlates with general future orientation. In particular, having received teachings to save is strongly associated with an increase in the future orientation index. In contrast, other two methods such as allowance and control over money, when taken separately, show no significant correlation. Our findings also suggest that the future orientation index is rather stable over time (which is not trivial, especially because our dataset covers two full business cycles) and declines with age following the life-cycle.

Suggested Citation

  • Alessandro Bucciol & Luca Zarri, 2016. "Does Saving Education Received From Parents Make Adults More Future-Oriented?," Working Papers 14/2016, University of Verona, Department of Economics.
    • Handle: RePEc:ver:wpaper:14/2016
    as

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    References listed on IDEAS

    as
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    5. Bucciol, Alessandro & Veronesi, Marcella, 2014. "Teaching children to save: What is the best strategy for lifetime savings?," Journal of Economic Psychology, Elsevier, vol. 45(C), pages 1-17.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Future Orientation; Saving Education; Financial Literacy;
    All these keywords.

    JEL classification:

    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance

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