Abstract
The objective of this study is to examine predictors of young people’s saving behaviour. The results from probit analysis, using a national survey of 1806 Canadians aged 12–24, reveal that individuals from peer groups identified as adult- or achievement-oriented are more likely to save money, especially for future schooling. The results also show that while workers, both students and non-students, are more likely to save money for the future in general, only students who are part-time workers save money for future school tuition. The use of peer groups and labour market participation to segment the youth market is a fruitful way to learn about the economic behaviour of young people.
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