Greed and adolescent financial behavior

T.G. Seuntjens, Niels van de Ven, M. Zeelenberg, Anna van der Schors

Research output: Contribution to journalArticleScientificpeer-review

17 Citations (Scopus)

Abstract

Financial problems in adolescents have increased over the last decades. We investigated if individual differences in greed relate to financial behavior. Greed is an important motive for economic behavior and refers to the tendency to never be satisfied and to always want more. We developed a short version of the Dispositional Greed Scale (Seuntjens, Zeelenberg, Van de Ven, & Breugelmans, 2015), which we then used in a large survey with adolescents (N = 3899). Dispositional greed is associated with them having more income, spending more, saving less often, and having debt more often. Identifying what personality characteristics influence financial behavior at a young age is important, as the financial habits that people learn during adolescence persist in adulthood. We find that greed has both positive effects (having a higher income), but also negative effects with the greedy being less likely to save and being more likely to have a debt.
Original languageEnglish
Pages (from-to)1-12
JournalJournal of Economic Psychology
Volume57
DOIs
Publication statusPublished - Dec 2016

Keywords

  • Greed
  • Dispositional Greed Scale
  • Adolescents
  • Financial Behavior
  • Debt

Fingerprint Dive into the research topics of 'Greed and adolescent financial behavior'. Together they form a unique fingerprint.

Cite this