The ant and the grasshopper: Understanding personal saving orientation of consumers

Dholakia, U; Tam, L; Yoon, S; Wong, N

The ant and the grasshopper: Understanding personal saving orientation of consumers

Dholakia, U Tam, L

Yoon, S Wong, N

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Publication Type:: Journal Article
Citation:: Journal of Consumer Research, 2016, 43 (1), pp. 134 - 155
Issue Date:: 2016-01-01

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Field	Value	Language
dc.contributor.author	Dholakia, U	en_US
dc.contributor.author	Tam, L https://orcid.org/0000-0003-1116-998X	en_US
dc.contributor.author	Yoon, S	en_US
dc.contributor.author	Wong, N	en_US
dc.date.issued	2016-01-01	en_US
dc.identifier.citation	Journal of Consumer Research, 2016, 43 (1), pp. 134 - 155	en_US
dc.identifier.issn	0093-5301	en_US
dc.identifier.uri	http://hdl.handle.net/10453/101642
dc.description.abstract	© The Author 2016. A low savings rate is a persistent social issue with significant present and future ramifications. As an alternative to conceptualizing saving money as goal-directed behavior, the present research examines the chronic tendencies of people to save money in a consistent and sustained manner through a personal saving orientation (PSO). Drawing upon theorizing on action control and research on forming and maintaining habits, the PSO emphasizes consistent, sustainable saving activities and incorporating them into one's lifestyle. In a set of nine studies, the PSO scale is developed and its nomological, test-retest, discriminant, and predictive validities are established. The results also show that the PSO moderates the relationship between consumers' financial knowledge and their accumulated savings. Additionally, low-PSO consumers are responsive to an intervention to help them save money. The PSO offers an effective method for understanding differences between consumers in their financial decision making and behaviors, and it can be used as a guide to encourage consistent and sustained saving practices.	en_US
dc.relation.ispartof	Journal of Consumer Research	en_US
dc.relation.isbasedon	10.1093/jcr/ucw004	en_US
dc.subject.classification	Marketing	en_US
dc.title	The ant and the grasshopper: Understanding personal saving orientation of consumers	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	43	en_US
utslib.for	1505 Marketing	en_US
utslib.for	1506 Tourism	en_US
utslib.for	1701 Psychology	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.issue	1	en_US
pubs.publication-status	Published	en_US
pubs.volume	43	en_US

Abstract:

© The Author 2016. A low savings rate is a persistent social issue with significant present and future ramifications. As an alternative to conceptualizing saving money as goal-directed behavior, the present research examines the chronic tendencies of people to save money in a consistent and sustained manner through a personal saving orientation (PSO). Drawing upon theorizing on action control and research on forming and maintaining habits, the PSO emphasizes consistent, sustainable saving activities and incorporating them into one's lifestyle. In a set of nine studies, the PSO scale is developed and its nomological, test-retest, discriminant, and predictive validities are established. The results also show that the PSO moderates the relationship between consumers' financial knowledge and their accumulated savings. Additionally, low-PSO consumers are responsive to an intervention to help them save money. The PSO offers an effective method for understanding differences between consumers in their financial decision making and behaviors, and it can be used as a guide to encourage consistent and sustained saving practices.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/101642