Regressions
| [A] Δ ExpDisc | [B] Δ Inv&Sav | [C] Δ SatAsset | [D] Δ SatInv | [E] Δ SatRet | |
|---|---|---|---|---|---|
| c | 156.542*** | -87.222* | 0.097 | 0.942** | 1.020* |
| 2.612 | -1.753 | 0.236 | 2.094 | 1.918 | |
| Δ AttGoal | 10.692 | -14.310 | -0.155 | -0.079 | 0.148 |
| 0.806 | -1.299 | -1.598 | -0.745 | 1.180 | |
| Δ AttFTP | -14.128** | 14.490** | 0.055 | 0.010 | 0.006 |
| -2.000 | 2.471 | 1.073 | 0.178 | 0.089 | |
| Δ AttEarly | -16.163 | 3.015 | -0.038 | -0.021 | -0.142 |
| -1.512 | 0.340 | -0.486 | -0.245 | -1.410 | |
| Δ KnowPlan | 7.591 | -4.790 | 0.206*** | 0.112* | 0.098 |
| 0.900 | -0.684 | 3.527 | 1.749 | 1.285 | |
| Δ KnowBudget | -10.704 | -0.866 | 0.138* | 0.208*** | 0.176* |
| -1.038 | -0.101 | 1.910 | 2.600 | 1.864 | |
| Δ KnowRetNeeds | 8.669 | -4.279 | 0.020 | 0.262*** | 0.344*** |
| 0.934 | -0.555 | 0.304 | 3.553 | 3.934 | |
| Age | 1.796 | -0.835 | 0.002 | -0.022** | -0.004 |
| 1.400 | -0.784 | 0.200 | -2.140 | -0.351 | |
| Married | 1.411 | 16.500 | -0.039 | 0.040 | 0.120 |
| 0.055 | 0.778 | -0.210 | 0.194 | 0.496 | |
| #Household | 7.168 | -12.003* | -0.085 | -0.015 | -0.113 |
| 0.854 | -1.723 | -1.396 | -0.226 | -1.428 | |
| Ln Asset | -3.320 | 1.548 | -0.014 | 0.044 | -0.051 |
| -0.655 | 0.368 | -0.390 | 1.093 | -1.054 | |
| Ln Income | -48.394*** | 34.998*** | 0.079 | -0.008 | 0.034 |
| -4.238 | 3.691 | 1.074 | -0.096 | 0.353 | |
| N | 216 | 216 | 216 | 216 | 216 |
| R2 | .139 | .126 | .173 | .275 | .274 |
| Adj. R2 | .084 | .070 | .121 | .229 | .228 |
| F | 2.529*** | 2.243 *** | 3.885 *** | 5.949*** | 6.775*** |
| Sig. | .003 | .009 | .000 | .000 | .000 |
Correlations
| Age | Married | #House hold | Income | ΔAtt Goal | Δtt FTP | ΔAtt Early | ΔKnow Plan | ΔKnow Budget | ΔKnow RetNds | ΔSat Asset | ΔSat Inv | ΔSat Ret | ΔInv&Sav | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Age | 1 | .633** | .639** | .541** | 0.012 | -0.049 | -.173* | -.191** | -.169* | -.255** | -.156* | -.285** | -.277** | 0.018 |
| Married | .633** | 1 | .687** | .419** | 0.036 | 0.028 | -.142* | -0.115 | -0.112 | -.285** | -.162* | -.199** | -.267** | 0.053 |
| #Household | .639** | .687** | 1 | .341** | -0.123 | 0.012 | -0.119 | -0.118 | -.163* | -.317** | -.192** | -.245** | -.346** | -0.056 |
| income | .541** | .419** | .341** | 1 | -0.044 | -0.004 | -.186** | -0.089 | -0.118 | -0.061 | -0.083 | -0.112 | -0.123 | .282** |
| ΔAttGoal | 0.012 | 0.036 | -0.123 | -0.044 | 1 | -0.011 | .372** | 0.012 | 0.047 | 0.071 | -0.067 | -0.073 | 0.057 | -0.069 |
| ΔAttFTP | -0.049 | 0.028 | 0.012 | -0.004 | -0.011 | 1 | 0.065 | 0.063 | 0.102 | 0.101 | 0.096 | 0.099 | 0.040 | 0.087 |
| ΔAttEarly | -.173* | -.142* | -0.119 | -.186** | .372** | 0.065 | 1 | 0.109 | .183** | .155* | 0.005 | 0.073 | 0.030 | -0.062 |
| ΔKnowPlan | -.191** | -0.115 | -0.118 | -0.089 | 0.012 | 0.063 | 0.109 | 1 | .335** | .367** | .322** | .331** | .238** | -0.035 |
| ΔKnowBudget | -.169* | -0.112 | -.163* | -0.118 | 0.047 | 0.102 | .183** | .335** | 1 | .537** | .290** | .402** | .366** | -0.008 |
| ΔKnowRetNeeds | -.255** | -.285** | -.317** | -0.061 | 0.071 | 0.101 | .155* | .367** | .537** | 1 | .279** | .452** | .479** | -0.016 |
| ΔSatAsset | -.156* | -.162* | -.192** | -0.083 | -0.067 | 0.096 | 0.005 | .322** | .290** | .279** | 1 | .483** | .432** | 0.017 |
| ΔSatInv | -.285** | -.199** | -.245** | -0.112 | -0.073 | 0.099 | 0.073 | .331** | .402** | .452** | .483** | 1 | .597** | -0.023 |
| ΔSatRet | 277** | -.267** | -.346** | -0.123 | 0.057 | 0.040 | 0.030 | .238** | .366** | .479** | .432** | .597** | 1 | 0.030 |
| ΔInv&Sav | 0.018 | 0.053 | -0.056 | .282** | -0.069 | 0.087 | -0.062 | -0.035 | -0.008 | -0.016 | 0.017 | -0.023 | 0.030 | 1 |
| ΔExpDisc | 0.013 | -0.027 | 0.033 | -.254** | 0.053 | -0.101 | -0.012 | 0.036 | -0.054 | 0.005 | -0.007 | 0.004 | 0.007 | -.826** |
Paired t-tests: After – Before for Same Client
| Mean Before | Mean After | Diff | t stat | |
|---|---|---|---|---|
| Attitude | ||||
| AttGoal: Financial goal-setting is most important (1-5). | 4.465 | 4.772 | .308 | 8.523*** |
| AttFTP: I feel better when accumulating money than spending for current satisfaction (1-5). | 3.179 | 3.566 | .388 | 5.871*** |
| AttEarly: Planning and preparing early for retirement is important (1-5). | 4.249 | 4.622 | .372 | 7.967*** |
| Knowledge | ||||
| KnowPlan: I can analyse family financial goals and prepare for them (1-5). | 3.212 | 3.923 | .711 | 12.568*** |
| KnowBudget: I can analyse my income and needs to budget properly (1-5). | 3.123 | 3.791 | .668 | 13.135*** |
| KnowRetNeeds: I can calculate the necessary income during retirement and choose proper financial assets (1-5). | 2.671 | 3.560 | .889 | 15.836*** |
| Satisfaction | ||||
| SatAsset: I am satisfied with the size and types of my current assets (1-5). | 2.899 | 3.332 | .434 | 8.943*** |
| SatInv: I am satisfied with the amount and types of investments (1-5). | 2.597 | 3.480 | .883 | 15.980*** |
| SatRet: I am satisfied with amount and types of savings for stable retirement life (1-5). | 2.563 | 3.446 | .883 | 13.794*** |
| Financial Behaviours | ||||
| Inv&Sav: Investment and savings Total (10,000KRW) | 91.402 | 162.046 | 70.64 | 10.708*** |
| ExpDisc: Expense Discretionary Total (10,000KRW) | 321.621 | 253.913 | -67.71 | -6.985*** |
Descriptive statistics
| Mean | S.D. | Min | Med | Max | |
|---|---|---|---|---|---|
| Age | 37.21 | 9.38 | 23 | 35 | 59 |
| Married: Single=0, Married=1 | 0.66 | 0.48 | 0 | 1 | 1 |
| #Household: Number of household members | 2.94 | 1.44 | 1 | 3 | 7 |
| Assets Total (10,000 KRW) | 39,646 | 67,675 | 0 | 14,062 | 489,285 |
| Ln Asset: In (1+Assets Total) | 8.89 | 2.52 | 0 | 9.55 | 13.10 |
| IncomeTotal (10,000 KRW) | 496.2 | 437.1 | 0 | 360 | 3500 |
| Ln Income: In (1+lncome Total) | 5.88 | 0.99 | 0 | 5.89 | 8.16 |
| ΔAttGoal: Δ Financial goal-setting is most important. | 0.31 | 0.66 | -1 | 0 | 3 |
| ΔAttFTP: Δ I feel better when accumulating money than spending for current satisfaction. | 0.39 | 1.25 | -3 | 0 | 4 |
| ΔAttEarly: Δ Planning and preparing early for retirement is important. | 0.37 | 0.87 | -2 | 0 | 4 |
| ΔKnowPlan: Δ I can analyse family financial goals and prepare for them. | 0.71 | 1.12 | -3 | 1 | 4 |
| ΔKnowBudget: Δ I can analyse my income and financial needs to budget properly. | 0.67 | 0.95 | -2 | 1 | 4 |
| ΔKnowRetNeeds: Δ I can calculate the necessary income during retirement and choose proper financial assets. | 0.89 | 1.06 | -2 | 1 | 4 |
| Δ SatAsset: Δ I am satisfied with the size and types of my current assets. | 0.43 | 0.91 | -2 | 0 | 3 |
| Δ SatInv: Δ I am satisfied with the amount and types of investments. | 0.88 | 1.04 | -2 | 1 | 4 |
| Δ SatRet: Δ I am satisfied with amount and types of savings for stable retirement life. | 0.88 | 1.21 | -2 | 1 | 4 |
| ΔInv&Sav: Δ All investment and savings (10,000KRW) | 70.64 | 101.76 | -410 | 40.5 | 500 |
| ΔExpDisc: Δ Discretionary and untraceable expenses (10,000KRW) | -67.71 | 122.36 | -614 | -49 | 483 |