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

Michele Erskine; Cheryl Kier; Ambrose Leung; Robert Sproule

doi:10.1016/j.joep.2005.05.005

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

Michele Erskine, Cheryl Kier, Ambrose Leung, Robert Sproule

Centre for Social Sciences

Research output: Contribution to journal › Journal Article › peer-review

28 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 language	English
Pages (from-to)	262-284
Number of pages	23
Journal	Journal of Economic Psychology
Volume	27
Issue number	2
DOIs	https://doi.org/10.1016/j.joep.2005.05.005
Publication status	Published - Apr. 2006

Keywords

Adolescents and young people
Choice behaviour
Money
Saving

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10.1016/j.joep.2005.05.005

Cite this

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

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.",

keywords = "Adolescents and young people, Choice behaviour, Money, Saving",

author = "Michele Erskine and Cheryl Kier and Ambrose Leung and Robert Sproule",

note = "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. ",

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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

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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.

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

Abstract

Keywords

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