Using data from a longitudinal survey representative of the Dutch population, we analyze the relationship between saving and locus of control, and we study the underlying mechanisms. Locus of control measures the extent to which individuals perceive their life outcomes to be determined by their own actions, as opposed to external factors. Those who believe to be in control of future outcomes turn out to save more, both at the extensive (decision to save) and intensive margins (amount saved). We investigate the mechanisms behind this relationship. We implement a mediation analysis to examine the role of saving motives, distinguishing between specific and non-specific purposes. The effect of external locus of control is direct, while the effect of internal locus of control is indirect, largely driven by (non-specific) saving motives.

我们使用代表荷兰人口的纵向调查数据，分析储蓄与控制点之间的关系，并研究潜在机制。控制点衡量个人认为他们的生活结果由他们自己的行为决定的程度，而不是外部因素。那些相信可以控制未来结果的人会储蓄更多，无论是在广泛（储蓄决定）还是在密集利润（储蓄金额）上。我们调查了这种关系背后的机制。我们实施中介分析来检查储蓄动机的作用，区分特定目的和非特定目的。外部控制点的影响是直接的，而内部控制点的影响是间接的，主要是由（非特定的）储蓄动机驱动的。