International Journal of Human Ecology

대한가정학회 (The Korean Home Economics Association)
권호 표지
DOI QR코드

DOI QR Code

Effects of Financial Education and Impulsive Buying on Saving Behavior of Korean College Students

  • Lee, Yoon-G. (Department of Family, Consumer, and Human Development, Utah State University) ;
  • Lown, Jean M. (Department of Family, Consumer, and Human Development, Utah State University)
  • 투고 : 2012.03.29
  • 심사 : 2012.06.16
  • 발행 : 2012.06.30
PDF 다운로드
⟨ 이전 논문 다음 논문 ⟩

초록

This study examined how financial education, impulsive buying, and socio-demographic factors affect saving behavior of 500 Korean college students. The descriptive results show that students who received financial education reported more positive saving behavior compared to students who did not receive financial education in school. The OLS results indicate that all else being equal, students with financial education reported more positive saving behavior than those without financial education. As predictors of saving behavior among Korean college students, the OLS results also reveal that impulsive buying, gender, and age were statistically significant. This study concludes that receiving financial education early, such as in elementary school, plays an important role in determining the saving behavior of Korean college students.

키워드

참고문헌

  1. Adams, C., Lown, J. M., & Bailey, W. C. (1994). Attitudes toward the economic future: Implications for consumer education. Journal of the Home Economics Institute of Australia, 1, 11-18.
  2. Bailey, W. C., & Lown, J. M. (1993). A cross cultural examination of the aetiology of attitudes toward money. Journal of Consumer Studies and Home Economics, 17, 391-402. https://doi.org/10.1111/j.1470-6431.1993.tb00181.x
  3. Burgess, S. M. (2005). The importance and motivational content of money attitudes: South Africans with living standards similar to those in industrialised Western countries. South African Journal of Psychology; 35(1), 106-126. https://doi.org/10.1177/008124630503500107
  4. Chung, K. (2008). Decrease in household savings rate and effectiveness of monetary policy. The Back of Korea Economic Papers, 89, 3 January.
  5. Dowling, N. A., Corney, T. & Hoiles, L. (2009). Financial management practices and money attitudes as determinants of financial problems and dissatisfaction in young male Australian workers, Journal of Financial Counseling and Planning, 20(2), 5-13.
  6. Edwards, E. A. (1993). Development of a new scale for measuring compulsive buying behavior. Financial Counseling and Planning, 4, 67-84.
  7. Faber, R. J., & O'Guinn T. C. (1992). A clinical screener for compulsive buying. Journal of Consumer Research, 19, 459-469. https://doi.org/10.1086/209315
  8. Gresham, A. B., & Fontenot, G. F. (1989). The differing attitudes of the sexes toward money: An application of the Money Attitude Scale. In P. J. Gordon and B. J. Kellerman (Eds.), Advances in Marketing (pp. 380-384). Cincinnati, Ohio: Southwestern.
  9. Hayhoe, C. R. Leach, L., & Turner, P. (1999). Discriminating the number of credit cards held by college students using credit and money attitudes. Journal of Economic Psychology, 20(6), 643-56. https://doi.org/10.1016/S0167-4870(99)00028-8
  10. Hong, E. (2005). A study on the money attitudes and the spending behaviors of middle, high, and college students. Journal of the Korean Home Management Association, 23(5), 103-121.
  11. Jung, H., & Yoon, H. (2008). A study on the attitude toward money by MAS (money attitude scale) and the dining-out behavior of undergraduates. Journal of Korean Home Economics Association, 46(6), 75-87.
  12. Kim, H. (2005). Financial management behaviors of college students, Journal of the Korean Home Management Association, 43(7), 79-9.
  13. Kim, J. (2002). Comparison of money and credit attitudes of female college students and housewives. Journal of Korean Home Economics Association, 40(3), 165-175.
  14. Kim, J. H., & Jeoung, H. J. (1996). A study on money beliefs and behaviors: An exploratory study of a cross-ethnic evaluation of MBBS. Journal of Wonkwang, 32, 521-535.
  15. Kim, Y. (2005). A path analysis of attitudes towards credit cards, financial management practices, and sound credit card use among college students. Journal of the Korean Home Management Association, 23(5), 15-26.
  16. Lim, V. K. G., & Teo, T. S. H. (1997). Sex, money and financial hardship: An empirical study of attitudes towards money among undergraduates in Singapore. Journal of Economic Psychology, 18, 369-386. https://doi.org/10.1016/S0167-4870(97)00013-5
  17. Lynn, R. (1993). Sex differences in competitiveness and the valuation of money in twenty countries. The Journal of Social Psychology, 133(4), 507-511. https://doi.org/10.1080/00224545.1993.9712175
  18. Masuo, D. M., Kim. J. H., Malroutu, L., & Hanashiro, R. (2002). Money beliefs and behaviors: A comparison of Asian and Asian American female college students. Journal of Asian Regional Association of Home Economics, 9, 223-227.
  19. Masuo, D. M., Malroutu, Y. L., Hanashiro, R., & Kim, J. H. (2004). College students' money beliefs and behaviors: An Asian perspective. Journal of Family and Economic Issues, 25(4), 469-481.
  20. Moore, M., & Carpenter, J. M. (2009). The impact of college student money attitudes on credit responsibility. College Student Journal, 43, 1116-1124.
  21. Norvilitis, J. M., Merwin, M. M., Osberg, T. M., Roehling, P. V., Young, P., & Kamas, M. M. (2006). Personality factors, money attitudes, financial knowledge, and credit-card debt in college students. Journal of Applied Social Psychology, 36(6), 1395-1413. https://doi.org/10.1111/j.0021-9029.2006.00065.x
  22. Ozgen, O., & Bayoglu, A. S. (2005). Turkish college students' attitudes towards money. International Journal of Consumer Studies, 29, 493-501. DOI: 10.1111/j.1470-6431.2005.00417.x
  23. Plummeting savings rate. (2012, May 31). The Korea Herald. Retrieved from: http://view.koreaherald.com/kh/view.php?ud=20120531000857&cpv=0
  24. Ramstad, E. (2010, November 8). The miracle is over. Now what? The Wall Street Journal Report, R1 & R4.
  25. Roberts, J. A., & Jones, E. (2001). Money attitudes, credit card use, and compulsive buying among American college students. The Journal of Consumer Affairs, 35(2), 213-240. https://doi.org/10.1111/j.1745-6606.2001.tb00111.x
  26. Roberts, J. A., & Sepulveda, C. J. M. (1999). Demographics and money attitudes: A test of Yamauchi & Templer's (1982) money attitude scale in Mexico. Personality and Individual Differences, 27, 19-35. https://doi.org/10.1016/S0191-8869(98)00241-4
  27. Spinella, M., Yang, B., & Lester, D. (2007). Development of the Executive Personal Finance Scale. International Journal of Neuroscience, 117(3), 301-313. https://doi.org/10.1080/00207450500534043
  28. Sybrowsky, J. P. (2007). Paths toward impulsive buying: The effect of credit use and debt avoidance on the paths between money attitudes and impulsive buying among U.S. college students. Unpublished master's thesis, Brigham Young University, Provo, Utah.
  29. Tang, T. L. (1992). The meaning of money revisited. Journal of Organizational Behavior, 13, 197-202. https://doi.org/10.1002/job.4030130209
  30. Tang, T. L. (1993). The meaning of money: Extension and exploration of the money ethic scale in a sample of university students in Taiwan. Journal of Organizational Behavior, 14, 93-99. https://doi.org/10.1002/job.4030140109
  31. Tung, R. L., & Baumann, C. (2009). Comparing the attitudes toward money, material possessions and savings of overseas Chinese vis-à-vis Chinese in China. The International Journal of Human Resource Management, 20, 2382-2401. https://doi.org/10.1080/09585190903239724
  32. Yamauchi, K., & Templer, D. (1982). The development of a money attitude scale. Journal of Personality Assessment, 46, 522-528. https://doi.org/10.1207/s15327752jpa4605_14