Understanding the psychological and demographic determinants of individual financial behavior is increasingly important in a context where individuals are required to make complex financial decisions. This study investigates the factors that influence preferences between saving and investing, with a focus on personality traits, emotional reactivity, and social engagement, alongside traditional socio-demographic variables. Based on a nationally representative sample of 953 Romanian adults, we employ an ordered logistic regression model to analyze the impact of these variables on self-reported financial allocation preferences. The results show that openness to experience, emotional responsiveness, and gender are significant predictors of a stronger orientation toward investment, while variables such as education, income, and age do not significantly influence financial preference. Social engagement shows a marginally positive effect, while prosocial disposition and relationship status are not significant. These findings highlight the dominant role of psychological traits over demographic factors in financial decision-making and suggest the need for more personalized, psychologically informed financial education and policy interventions.
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