THE POTENTIAL IMPACT OF TIME PERSPECTIVE ON FINANCIAL CAPABILITY: AN EMPIRICAL STUDY IN TURKEY

Yıl 2018, Cilt: 2 Sayı: 2, 18 - 26, 03.01.2019

Zeynep Çopur , Jorge Ruiz Menjıvar

Öz

Financial capability incorporates skills, behavior, and knowledge in five areas: making ends meet,

keeping track, planning ahead, choosing products, and staying informed. People should understand how to manage

their money, use credit, choose insurance, pay taxes, and save for emergencies, long-term financial security,

and development (Atkinson et al., 2006). Time Perspective is a basic psychological dimension of time. Time

perspective is used both in temporal coding and collecting and remembering events, as well as in the formation of

expectations, objectives and imaginary scenarios. Results of several studies confirm that types of Time Perspective

are significantly linked to several important aspects of human functioning (Przepiorka et al., 2016). The aim of

this study is to explore the relationship between time perspective and financial capability. Data were collected in

2017 in Ankara, Çankaya district, Turkey. In this study, the total number of participants was determined using

a random sampling method, and 513 participants completed the survey. About half (50.7%) of the sample were

women; 49.3% were men. The average age of the participant’s was 31.2 (SD = 12.09). More than half (59.1%) of

the sample were single. This research finds that domains of time perspective were significantly related to financial

capability except past-positive and present-hedonistic. Participants who focused a generally negative, aversive

view of the past (past-negative) and a fatalistic, helpless, and hopeless attitude toward the future and life (presentfatalistic)

were negatively associated financial capability. Participants who focused a general future orientation

(future-orientation) were positively associated financial capability

Anahtar Kelimeler

Financial capability, time perspectives, financial knowledge, financial socialization, financial risk

Kaynakça

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