Transformations  in
Business & Economics

CURRENT CROSS-CULTURAL PERSONAL FINANCIAL BEHAVIOUR COORDINATES: EVIDENCE FROM ROMANIA AND SOUTH AFRICA WITH A FOCUS ON YOUNG AND EDUCATED INDIVIDUALS
Tudor Edu, Willem Adriaan Lotter, Iliuta Costel Negricea, Emanuela Maria Avram

ABSTRACT.The purpose of this paper is to show the current status of income provision and diffusion on expenditure chapters by young and educated individuals from different cultures. A comprehensive desk research at global level and for Romania and South Africa and a direct research on equal samples of 385 young and educated individuals from the two countries have been performed on personal income sources, expenditure chapters and rational and emotional influences in income distribution. The findings display similarities and differences between the pervasive approaches and the reality for young and educated individuals and between Romania and South Africa regarding income sources, expense chapters, perceptions of income sufficiency and saving and attitudes about purchasing on credit and saving. The findings contradict assessments and statements about one or both countries, attributed to the targeted population features and the current economic, social and cultural realities rendering significant insights to businesses, academics and public authorities

KEYWORDS: income, expenditure, behaviour, Romania, South Africa.

JEL classification: D14, M31.