DETERMINANTS OF MONEY-SAVING BEHAVIOUR AMONG TEENAGERS: EVIDENCE FROM HIGH SCHOOL STUDENTS IN UZBEKISTAN

Abstract

This study examines which factor best predicts saving behavior among high school students in Uzbekistan: financial literacy, financial background, or behavioral factors (self-control). An anonymous online survey was completed by 44 respondents, mostly aged 14–19 from various regions of Uzbekistan. Financial literacy was measured using the standard “Big Three” questions (Lusardi & Mitchell). Financial background included monthly allowance, personal earnings, parental discussion of money, and ownership of a bank account. Self-control was assessed with four Likert-scale items. Saving behavior was measured by saving frequency and the proportion of money saved.
Results show that self-control has a moderate-to-strong positive association with saving behavior (r = 0.56), while financial literacy (r = 0.06) and financial background (r = –0.10) show almost no relationship. In a multiple regression model, only self-control remained a meaningful positive predictor. Students with higher self-control saved more regularly and set aside a larger share of their money. These findings suggest that, in this sample, behavioral self-regulation is more important for teenage saving habits than financial knowledge or access to money alone. The study highlights the potential value of teaching self-control and delayed gratification alongside financial literacy in schools. Limitations include the small and non-random sample and the cross-sectional design, which prevents causal conclusions.