Abstract:

The main objective of this contribution is to examine whether pocket money is a commonly instrument of financial socialization of children in Poland as well as to analyze the pocket money schemes used by Polish parents and indicate the set of features of allowance systems determining subsequent savings behaviors in adulthood. The following research hypothesis was formulated: pocket money is common instrument knowingly used by parents in Poland in the process of financial socialization of children, which affect savings behavior in adulthood. The core methods used in this contribution involve CART algorithm, CAWI survey among 1100 Poles, review and critical analysis of the subject literature as well as the descriptive method. The results of the CAWI survey proved that pocket money is common instrument knowingly used by parents in Polish families. Outcomes of the CART model proved that particular features of pocket money systems used by parents in childhood have an impact on savings behaviors in adulthood - but affect only the amount saved (have no effect on propensity to save).