[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-150197-en":3,"doc-seo-150197-105":30,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":27,"seo_description":14,"update_tm":28,"read_time":29},150197,7971461740886,"Theodore","https://ap-avatar.wpscdn.com/davatar_3d24733baf745e90a7e4bdd5f77d97b2",8,"Research & Report","Teaching Children to Save - What Is the Best Strategy for Lifetime Savings?","We study how alternative parental teaching strategies influence children’s saving behavior and whether those effects persist into adulthood. Using a panel dataset from the Dutch DNB Household Survey, parental teaching to save increases the probability of saving by 16% and the saved amount by about 30%. The most effective approach combines pocket money, monitoring money use, and giving guidance on saving and budgeting. The impact remains stable with age for the propensity to save, though it decays at older ages.","Alessandro Bucciol and Marcella Veronesi  \nTeaching Children to Save  \nWhat Is the Best Strategy for Lifetime Savings?  \nDP 10/2013-051  \nTEACHING CHILDREN TO SAVE:  \nWHAT IS THE BEST STRATEGY  \n*  \nFOR LIFETIME SAVINGS?  \nALESSANDRO BUCCIOL† University of Verona and Netspar  \nMARCELLA VERONESI University of Verona  \nABSTRACT  \nWe study the effect of alternative parental teaching strategies on the propensity to save and the amount saved during adulthood. Using a panel dataset from the Dutch DNB Household Survey we find that parental teaching to save increases the likelihood that an adult will save by 16%, and the saving amount by about 30% . The best strategy involves a combination of different methods (giving pocket money, controlling money usage, and giving advice about saving and budgeting) . The effect of parental teaching is persistent with age, but decays at elder age for the propensity to save.  \nKeywords: saving; teaching to save; children; pocket money.  \nJEL classification codes: J13; D12.  \n* We are grateful to Francesco De Sinopoli, Matthew Neidell and Angelo Zago for useful comments. We also thank the participants to the 2013 Nordic Conference on Behavioral and Experimental Economics held in Stockholm. The usual disclaimers apply.  \n† Corresponding author: Alessandro Bucciol, University of Verona, Dept. of Economics, Via dell’Artigliere 19, 37129 Verona, Italy. Telephone: +39 045.842.5448. Fax: +39 045.802.8529.  \nEmail: [alessandro.bucciol@univr.it](alessandro.bucciol@univr.it).  \n1. Introduction  \nSaving is important over the lifespan for retirement, to sustain stable consumption needs, to purchase expensive goods or to protect against unforeseen events. This notwithstanding, people frequently do not save or save too little. For instance, Lusardi (1999) reports that one-third of Americans aged 51-60 approach retirement with very small wealth holdings. Scholz et al. (2006) find from simulation studies that 20% of American households have less wealth than predicted from theoretical life-cycle models. Sub-optimal saving is not a local phenomenon, and it is observed worldwide (see, e.g., Lusardi and Mitchell, 2011) . The lack of saving has been related, among others, to cognitive deficits (Banks, 2010; Banks et al., 2011), procrastination (see, e.g., Loewenstein and Prelec, 1992; Frederick et al., 2002), the lack of financial literacy (Lusardi, 1999 and 2004; Van Rooij et al., 2012) as well as the inability to exert self-control and delay immediate gratification (Thaler and Shefrin, 1981; Ameriks et al., 2007; Bucciol, 2012) .  \nIn this study, we investigate whether parental teaching to save received in young age helps increase savings in adult age. The importance of saving – and the need to stimulate it – is widely accepted in the literature; however, our understanding of how to encourage people to save is still on an early stage. There is robust evidence that asset accumulation is positively correlated with education in general (see, e.g., the review in Attanasio and Weber, 2010), and financial education in particular (Bernheim and Garrett, 2003) . A small strand of literature focuses on the financial education received in young age, either formally at school or informally within the family. Bernheim et al. (2001) find positive correlation between asset accumulation and exposure to school courses on financial decision making. In addition, they find that saving rates are higher among adults who have been encouraged since young ages to use a bank account. Marshall and Magruder (1960) and Lewis and  \nScott (2000) find that children are more knowledgeable with money if they were given an allowance from their parents. Webley and Nyhus (2006) find that the saving attitude of children aged 16-21 is related to that of their parents. Webley and Nyhus (2012) consider the economic socialization of a cross-sectional sample of Dutch young adults aged 18-32, and they find that parental encouragement to save and to budget increa","cbCain04t4UtKaPR","https://ap.wps.com/l/cbCain04t4UtKaPR","pdf",381363,1,38,"English","en",105,"# Introduction\n## Research questions and motivation\n## Prior evidence on financial education and saving behavior","[{\"question\":\"How do parental teaching strategies affect adults’ saving?\",\"answer\":\"Parental teaching to save increases both the likelihood of saving (by 16%) and the amount saved (by about 30%) in adulthood.\"},{\"question\":\"Which teaching approach is most effective?\",\"answer\":\"The best strategy combines multiple methods: giving pocket money, controlling how money is used, and advising on saving and budgeting.\"},{\"question\":\"Do the effects of parental teaching last throughout adulthood?\",\"answer\":\"The effect is persistent with age, but it decays at elder ages for the propensity to save.\"}]","Teaching Children to Save - What Is the Best Strategy for Lifetime Savings? | PDF",1787815375,96,{"code":4,"msg":31,"data":32},"ok",{"site_id":24,"language":23,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":28},"teaching-children-to-save-what-is-the-best-strategy-for-lifetime-savings","",{"@graph":36,"@context":85},[37,54,68],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,51],{"item":41,"name":42,"@type":43,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":50},"https://docshare.wps.com/document/research-report/",3,{"item":52,"name":13,"@type":43,"position":53},"https://docshare.wps.com/document/teaching-children-to-save-what-is-the-best-strategy-for-lifetime-savings/150197/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":23,"description":14,"dateModified":62,"datePublished":62,"encodingFormat":61,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":41,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-08-27",true,{"@type":65,"interactionType":66,"userInteractionCount":4},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"How do parental teaching strategies affect adults’ saving?","Question",{"text":75,"@type":76},"Parental teaching to save increases both the likelihood of saving (by 16%) and the amount saved (by about 30%) in adulthood.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"Which teaching approach is most effective?",{"text":80,"@type":76},"The best strategy combines multiple methods: giving pocket money, controlling how money is used, and advising on saving and budgeting.",{"name":82,"@type":73,"acceptedAnswer":83},"Do the effects of parental teaching last throughout adulthood?",{"text":84,"@type":76},"The effect is persistent with age, but it decays at elder ages for the propensity to save.","https://schema.org",{"og:url":52,"og:type":87,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":89,"canonical":52},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":92},[93,97,101,105,110,115,120,123,128,131,135],{"id":20,"doc_module":4,"doc_module_name":46,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":53,"doc_module":4,"doc_module_name":46,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":46,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":46,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":46,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":46,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":46,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":132,"doc_module":4,"doc_module_name":46,"category_name":133,"show_sort_weight":132,"slug":134},10,"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":46,"category_name":137,"show_sort_weight":106,"slug":138},19,"General","general"]