The Impact of Pocket Money and Term Time Employment on the Financial Confidence of Adolescents in New Zealand

Steve Agnew () and Valerie A. Sotardi
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Steve Agnew: University of Canterbury, https://www.canterbury.ac.nz

Working Papers in Economics from University of Canterbury, Department of Economics and Finance

Abstract: This study uses a large sample of 3,681 twelve- to fourteen-year-olds to examine predictors of adolescent financial confidence. A family financial culture of openness is significantly correlated with greater financial confidence, with the largest effect size of all the variables. Living in a more affluent household, being of male gender, receiving pocket money and having a term time job are all positively correlated with greater financial confidence. Moderation regression analysis examines whether the effect of gender, household affluence or a family culture of financial openness are moderated through receiving pocket money or having a term time job. The increased financial confidence correlated with more affluent households is moderated through an adolescent having a term time job. Youth can mitigate the negative effect on financial confidence of living in a lower affluence household by having a term time job.

Pages: 26 pages
Date: 2024-07-01
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