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“Buy him some Tesla stocks for his baptism”: Gender differences among young savers

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  • Hauff, Jeanette Carlsson
  • Hermansson, Cecilia

Abstract

This paper investigates gender roles in children’s savings, specifically defined as differences pertaining to age, capital invested, financial activity and portfolio composition, using a sample of 58,000 children. We observe gender differences between young female and male account holders. The average age and activity level of boys are significantly higher whereas girls hold more capital in their accounts. We note that activity interacts with both gender, age and capital, and is decisive in explaining financial behaviour, especially that of boys. We conclude that girls have a lower share of saving in direct-owned stock already before the age of one and among teenagers, particularly ages 15–17 years. We discuss our findings applying structuration theory, differentiating between implicit and explicit parental impact prevailing among adolescents, and the definite caring regarding younger children. For policymakers and managers, awareness that gender differences regarding financial behaviour prevail is an important insight.

Suggested Citation

  • Hauff, Jeanette Carlsson & Hermansson, Cecilia, 2024. "“Buy him some Tesla stocks for his baptism”: Gender differences among young savers," Journal of Behavioral and Experimental Finance, Elsevier, vol. 44(C).
    • Handle: RePEc:eee:beexfi:v:44:y:2024:i:c:s2214635024001114
    DOI: 10.1016/j.jbef.2024.100996
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    More about this item

    Keywords

    saving; children; parents; gender; portfolio composition; activity; structuration theory;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth

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