Does Saving Education Received From Parents Make Adults More Future-Oriented?

Alessandro Bucciol and Luca Zarri

No 14/2016, Working Papers from University of Verona, Department of Economics

Abstract: In this paper, we use data from the DNB Household Survey (DHS), annually covering the period 1996-2015, to shed light on the relationship between informal saving education received when children or adolescents and two variables aimed to capture adult individuals’ concerns for their future: planning horizon and future orientation. Our results indicate that informal saving correlates with general future orientation. In particular, having received teachings to save is strongly associated with an increase in the future orientation index. In contrast, other two methods such as allowance and control over money, when taken separately, show no significant correlation. Our findings also suggest that the future orientation index is rather stable over time (which is not trivial, especially because our dataset covers two full business cycles) and declines with age following the life-cycle.

Keywords: Future Orientation; Saving Education; Financial Literacy (search for similar items in EconPapers)
JEL-codes: D14 D90 J13 (search for similar items in EconPapers)
Pages: 29
Date: 2016-08
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