Application of the Human Capital Life-Course Theory to Understand Generation Y South Africans’ Money Attitudes
Abstract
The life-course approach is a current use of an interdisciplinary and a multi-theoretical framework to study how childhood experiences, especially family experience affect later-life attitudes and consumer behaviour. One childhood family experience believed to be strongly driving later-life attitudes and values, and studied under the human capital life-course theoretical perspective is family resources received during childhood. This study uses the human capital life-course theoretical perspective to study how family resources received during childhood affect later-life money attitudes of a large and lucrative market segment like Generation Y South Africans, especially as their money attitudes can influence varied consumer behaviour. Survey results from 826 subjects showed that they scored high in the security and budget money attitudes. Family resources received during childhood negatively impacted on their symbolic (status, achievement and worry) money attitudes and had a strong positive impact on their conservative (budget and security) money attitudes.Downloads
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