Peer crowds, work experience, and financial saving behaviour of young Canadians

Michele Erskine, Cheryl Kier, Ambrose Leung, Robert Sproule

Research output: Contribution to journalJournal Articlepeer-review

29 Citations (Scopus)

Abstract

The objective of this study is to examine predictors of young people's saving behaviour. The results from probit analysis, using a national survey of 1806 Canadians aged 12-24, reveal that individuals from peer groups identified as adult- or achievement-oriented are more likely to save money, especially for future schooling. The results also show that while workers, both students and non-students, are more likely to save money for the future in general, only students who are part-time workers save money for future school tuition. The use of peer groups and labour market participation to segment the youth market is a fruitful way to learn about the economic behaviour of young people.

Original languageEnglish
Pages (from-to)262-284
Number of pages23
JournalJournal of Economic Psychology
Volume27
Issue number2
DOIs
Publication statusPublished - Apr. 2006

Keywords

  • Adolescents and young people
  • Choice behaviour
  • Money
  • Saving

Fingerprint

Dive into the research topics of 'Peer crowds, work experience, and financial saving behaviour of young Canadians'. Together they form a unique fingerprint.

Cite this