International Journal of Human Ecology

The Korean Home Economics Association (대한가정학회)
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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)
  • Received : 2012.03.29
  • Accepted : 2012.06.16
  • Published : 2012.06.30
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Abstract

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.

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References

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