Optimizing Financial Education Utilization

Title

Ethical Behaviors and Wealth: Generations Y's Experience

Document Type

Journal Article

Publication Date

1-2017

Keywords

financial-behavior, age, wealth, income, money-management

Abstract

This research investigates if ethical behaviors and personal finances are related using a large scale U.S. random survey called the National Longitudinal Survey of Youth 1997 (NLSY97). Fifteen indicators covering both ethical and unethical behaviors are compared to net worth for people in their 20s and 30s, who are called Generation Y. Breaking rules, stealing, and being arrested are associated with less wealth in this generation. Results suggest that among people in their early 20s, there is little or no relationship between ethical behaviors and wealth. However, as this cohort ages, a positive relationship between acting more ethically and wealth emerges.

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