Attitude Towards Financial Planning of Italian Households

Marianna Brunetti, Rocco Ciciretti, Monica Gentile (), Nadia Linciano () and Paola Soccorso ()
Additional contact information
Monica Gentile: CONSOB, Divisione Mercati e Consulenza Economica
Nadia Linciano: CONSOB, Divisione Mercati e Consulenza Economica
Paola Soccorso: CONSOB, Divisione Mercati e Consulenza Economica

No 544, CEIS Research Paper from Tor Vergata University, CEIS

Abstract: Employing structured financial planning to manage personal finances on is associ-ated with higher levels of financial well-being and increased ability to react to shocks. Therefore, it is important to understand the factors associated with the propensity to plan and what it is that promotes financial planning. Our empirical evidence for a sample of Italian households shows a poor inclination for financial planning. CONSOB Survey data on the financial investments made by of Italian household (or FIIH) are used to estimate a probit model which shows a positive association between financial planning and financial knowledge, and the relevance of personal traits such as financial anxiety and financial self-efficacy, financial control (control over savings, spending and indebtedness) and financial conditions. The findings provide useful insights for financial decision-makers in the con-text of financial education initiatives and client-intermediary relationship aimed at pro-moting appropriate attitudes and choices towards managing money

Keywords: financial planning; budgeting; household finance; financial control; financial self-efficacy; financial literacy; financial knowledge (search for similar items in EconPapers)
JEL-codes: C21 C51 D14 G51 G53 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2022-12-15, Revised 2022-12-15
New Economics Papers: this item is included in nep-ban and nep-fle
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Working Paper: Attitude towards financial planning of Italian households (2022)
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