Effects of Financial Education and Impulsive Buying on Saving Behavior of Korean College Students

This is the authors' abstract. We don't add key points for this paper.

This study examined how financial education, impulsive buying, and socio-demographic factors affect saving behavior of 500 Korean college students. The descriptive results show that students who received financial education reported more positive saving behavior compared to students who did not receive financial education in school. The OLS results indicate that all else being equal, students with financial education reported more positive saving behavior than those without financial education. As predictors of saving behavior among Korean college students, the OLS results also reveal that impulsive buying, gender, and age were statistically significant. This study concludes that receiving financial education early, such as in elementary school, plays an important role in determining the saving behavior of Korean college students.