Fiona Casey
Saving behaviour among young adults has become an increasingly important area of research, particularly as students face rising living costs and greater responsibility for their own financial security. Psychological factors such as gender, self-efficacy and future time perspective have been identified as important influences on financial decision making. However limited research has examined how these variables interact within an Irish student population. Addressing this gap, this research study investigated whether gender, self-efficacy, and future time perspective predicted saving behaviour among college students in Ireland.
This Major Research Project explored how gender, self-efficacy, and future time perspective impact the saving behaviour of students in Ireland. Addressing a gap in the existing literature, it is one of the first studies to examine this combination of variables in a student population in Ireland. Results showed that future time perspective was a significant predictor of saving behaviour, with stronger future orientation associated with greater saving behaviour. While self-efficacy and gender did not significantly predict saving behaviour. These findings highlight the importance of fostering future time perspective in education to facilitate and promote positive saving behaviours in students.
The study used a quantitative, cross sectional, correlational design. A questionnaire-based online survey was used to assess the variables. The independent (predictor) variables were future time perspective, self-efficacy and gender. The dependent variable was saving behaviour. A standard multiple linear regression analysis was performed using SPSS to examine if these predictor variables had a significant impact on the dependant variable.
Participants consisted of 75 undergraduate students recruited from the Institute of Art, Design and Technology (IADT).
The well validated scales used to measure the predictor variables were the General Self-Efficacy Scale, Zimbardo's Time Perspective Inventory (ZTPI) and the combined MBBS and MAS scale.
The results of the study indicated that future time perspective was a significant predictor of saving behaviour among college students. Students who demonstrated a stronger orientation towards the future reported higher levels of saving behaviour, suggesting that the ability to consider and value long-term outcomes plays a key role in financial decision-making during early adulthood. In contrast, self-efficacy did not significantly predict saving behaviour in this sample, nor did gender show a significant effect.
Results suggested that future-oriented thinking is more strongly associated with saving behaviour than general confidence in one’s abilities or gender differences. These findings highlight future time perspective as a particularly relevant psychological factor in understanding saving behaviour among students.
The findings could be applied to educational settings, financial literacy programmes, and student support services to inform interventions aimed at promoting positive saving habits. By fostering future-oriented thinking, such as goal-setting and long-term financial planning, students can be better supported in developing positive financial behaviours.
This study explored whether gender, self-efficacy, and future time perspective impact the financial and saving behaviour of college students in Ireland.
My name is Fiona Casey. I am a soon-to-be graduate of the BSc (Hons) Applied Psychology course at IADT, specialising in the technology pathway. Throughout the years, I have had the privilege to learn and experience a diverse range of interesting modules, where I have developed a keen interest in cognitive, behavioural and developmental psychology. I have experience with volunteering in St John of Gods, along with Open Spectrum youth club for children with autism. I have also volunteered as an Access Leader in my college. In the near future, I plan to focus on gaining valuable work experience in the psychology field, with the goal of pursuing a Master's degree at a later stage to further deepen my knowledge.
