Underpinnings of Psychological Differences from the Point of Saving Behavior

Individuals differ in terms of money management behaviors based on psychological characteristics. The main purpose of conducting research is to contribute to the development of a new credit risk assessment model to be used by a factoring firm, located in Turkey. For this reason, we conducted this research, using surveys related to personality traits, self-esteem, the value attributed to the materials and money, compulsive and impulsive buying tendencies, different aspects of self-control, and impulsiveness. Statistical analysis showed that there were significant differences between the individuals who save regularly and those who do not in terms of average impulsive buying, compulsive buying, impulsivity, retention-time, and extraversion scores. Also, the binary logistic model showed that time-retention, impulsivity, extraversion, agreeableness, and experiential self-control can successfully discriminate savers and non-savers. Some t-test and regression results were surprising; thus, these results will be evaluated through financial features of the participants in the discussion part.