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Savings Behavior And Satisfaction With Savings: A Comparison Of Low‐ And High‐Income Groups
Author(s) -
Davis Elizabeth P.,
Schumm Walter R.
Publication year - 1987
Publication title -
home economics research journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.372
H-Index - 31
eISSN - 1552-3934
pISSN - 0046-7774
DOI - 10.1177/1077727x8701500405
Subject(s) - economics , demographic economics , low income , savings account , labour economics , finance
Associations between satisfaction with savings and level of savings with mea sures of motivation to save, motivations to spend, and family resources were found to differ substantially between low‐ and high‐income couples. Below a threshold level of income of $9,000, it appeared that couples simply could not afford to save very much of their limited incomes. Above that apparent threshold level, savings rose very rapidly with income. Among couples whose incomes were above the threshold, satisfaction with savings was primarily a function of income, savings, and family size, while level of savings was primarily a function of income, education, family size, and home ownership. Motivation to save was associated with both savings and satisfaction with savings in terms of significant quadratic relationship.