TY - JOUR
T1 - Peer crowds, work experience, and financial saving behaviour of young Canadians
AU - Erskine, Michele
AU - Kier, Cheryl
AU - Leung, Ambrose
AU - Sproule, Robert
N1 - Funding Information:
This project is supported by Youth Culture Inc., Toronto, Ontario, Canada. We would like to thank Mabrouk Abaoui, Cheryl Gosselin, Simon Kemp, Jackie Snell, and two anonymous reviewers for valuable comments. The authors are responsible for all remaining errors and/or oversights.
PY - 2006/4
Y1 - 2006/4
N2 - 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.
AB - 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.
KW - Adolescents and young people
KW - Choice behaviour
KW - Money
KW - Saving
UR - http://www.scopus.com/inward/record.url?scp=33644766885&partnerID=8YFLogxK
U2 - 10.1016/j.joep.2005.05.005
DO - 10.1016/j.joep.2005.05.005
M3 - Journal Article
AN - SCOPUS:33644766885
SN - 0167-4870
VL - 27
SP - 262
EP - 284
JO - Journal of Economic Psychology
JF - Journal of Economic Psychology
IS - 2
ER -