Financial Behaviour Under Economic Strain in Different Age Groups : Predictors and Change Across 20 Years
Silinskas, G., Ranta, M., & Wilska, T.-A. (2021). Financial Behaviour Under Economic Strain in Different Age Groups : Predictors and Change Across 20 Years. Journal of Consumer Policy, 44(2), 235-257. https://doi.org/10.1007/s10603-021-09480-6
Published in
Journal of Consumer PolicyDate
2021Copyright
© The Author(s) 2021
The present study examined the multiple micro- and macro-level factors that affect individuals’ financial behaviour under economic strain. The following sociodemographic and economic factors that predict financial behaviour were analysed: age group, year of data gathering, and attitudes towards consumption (economical, deprived, and hedonistic). Subjective financial situations and demographic characteristics were controlled for. Finnish time series data that consisted of five cross-sectional nationally representative surveys were used (n = 10 043). The analyses revealed four types of financial behaviour: cutting expenses, borrowing, increasing income, and gambling. Young adults aged 18–25 reported the lowest frequency of borrowing and gambling and the highest frequency of increasing income (together with young adults aged 26–35). Participants aged 66–75 scored the lowest in cutting expenses and increasing income in comparison to all other age groups. Financial behaviour under economic strain in 2019 can be characterized by lower instances of borrowing than in 2004 and 2009 and higher frequencies in increasing income in comparison to all other years of data gathering. Finally, strong attitudes towards saving were related to lower frequency of borrowing and gambling, whereas stronger hedonistic attitudes were related to lower frequency of cutting expenses and more frequent borrowing. The research results provide tools for consumer policy, consumer education, and consumer regulation.
...
![showless](/themes/JYX2//images/showless.png)
![showmore](/themes/JYX2//images/showmore.png)
Publisher
SpringerISSN Search the Publication Forum
0168-7034Keywords
Publication in research information system
https://converis.jyu.fi/converis/portal/detail/Publication/52397534
Metadata
Show full item recordCollections
Related funder(s)
Research Council of FinlandFunding program(s)
Strategic research programmes, AoFAdditional information about funding
This study is part of the DigiConsumers research project funded by the Strategic Research Council (SRC) established within the Academy of Finland (Grant numbers: #327237 and #327242). Open access funding provided by University of Jyväskylä (JYU).License
Related items
Showing items with similar title or keywords.
-
From hedonism to frugality : consumption desires in different age groups across 20 years
Wilska, Terhi-Anna; Silinskas, Gintautas; Nyrhinen, Jussi (Bristol University Press, 2023)This article examines different kinds of consumption desires of Finnish consumers by asking how they would change their consumption habits if they had more money at their disposal. As previous research on consumption desires ... -
ASP-tili säästämisen sitouttamisvälineenä
Hirvonen, Joonas (Taloustieteellinen yhdistys, 2021)Ihmisillä on usein haasteita sitoutua pitkän aikavälin tavoitteisiin. Oman talouden hallinnassa tämä voi tarkoittaa säästämisvaikeuksia, mutta myös maksuhäiriömerkintöihin ja ylivelkaantumiseen johtavaa kuluttamista. ... -
Exploring the role of teachers’ attitudes towards inclusive education, their self-efficacy, and collective efficacy in behaviour management in teacher behaviour
Gülsün, İpek; Malinen, Olli-Pekka; Yada, Akie; Savolainen, Hannu (Elsevier, 2023)Using a sample of 384 Finnish teachers, in this study we explored how teachers' attitudes towards inclusive education, self-efficacy, and collective efficacy in behaviour management affect their behaviours in teaching ... -
A year after COVID-19 in three countries : The impact of the war in Ukraine and economic crisis on everyday life and wellbeing in Finland, Sweden, and the UK
Nuckols, Julia; Wilska, Terhi-Anna; Sirola, Anu (Jyväskylän yliopisto, 2024)This research report explores the perceived impact of current global crises—including the aftermath of COVID-19, the war in Ukraine, energy crisis, and inflation—on citizens aged 18 to 75 in Finland (n=1000), Sweden (n=1000), ... -
Business customers' attitudes toward social media marketing
Palojärvi, Terhi (2018)Tutkimuksen tarkoituksena on selvittää, kuinka markkinointia sosiaalisessa mediassa voidaan toteuttaa yritysten välisillä (business-to-business, b2b) -markkinoilla sekä miten potentiaalinen markkinointikanava sosiaalinen ...