Saving in childhood and adolescence: Insights from developmental psychology

This paper addresses variables related to child and adolescent saving and explains the development of skills and behaviors that facilitate saving from an economic socialization perspective. References are made to the differences between the economic world of children, adolescents, and adults as well as to existing theories of saving. Children's and adolescents’ ability and willingness to save are looked at, taking into account the social context of the family and general child and adolescent development. The paper concludes with directions for future research in this area.

► The economic world of children, adolescents, and adults is addressed. ► Children's and adolescents ability and willingness to save are studied. ► The development of economic behavior within the family is reviewed. ► Saving attitudes and motives are discussed within child and adolescent development.