Essays on Self-Control and Saving Behavior
Self-control mechanisms; Savings behavior; Systematic Literature Mapping; Savings goals and rules
This essay combines findings from two articles that explore how self-control mechanisms influence individuals' savings behavior. The first article employs Systematic Literature Mapping (SLM) to review how self-control variables are related to savings behavior. It reveals a consensus on the positive effect of savings rules, the influence of self-control on financial well-being, and the connection between optimism and self-control. The second article examines these effects using data from the 2022 Consumer Finance Survey, highlighting the importance of savings rules and their impact on the likelihood of saving, as well as retirement goals and their relationships with self-control. Both articles underscore the significance of long-term goals in savings and how adverse financial events impact optimism and its association with self-control in households.