Household Savings Motives

DeVaney, Sharon A.; Anong, Sophia T.; Whirl, Stacy E.

doi:10.1111/j.1745-6606.2006.00073.x

Cited by 103 publications

(98 citation statements)

References 10 publications

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“…Previous research that examined saving motives of Chinese households reported the main effects of demographic and economic characteristics on saving motives (e.g., DeVaney et al 2007;Xiao and Fan 2002;Xiao and Noring 1994;Yilmazer 2008). …”

Section: Contributions Of This Studymentioning

confidence: 99%

“…Saving for emergency should be important for all age groups. According to consumer economists (e.g., DeVaney et al 2007;Xiao and Noring 1994), the emergency saving motive is at a lower level of the hierarchy and is usually being reached before saving for other goals.…”

Section: Conceptual Framework and Hypothesesmentioning

confidence: 99%

“…Household saving motives varied by income (DeVaney et al 2007;Haron et al 2013). Katona (1975) stated that "the worse the current situation, the greater looms the need to maintain reserves for future emergency," (p. 233) suggesting that a having a relatively lower financial status can induce household motivation to save for emergencies.…”

Section: Economic Factorsmentioning

confidence: 99%

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Effects of Age on Saving Motives of Chinese Urban Consumers

2014

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Prior research on the saving behavior of Chinese consumers gave indirect evidence of various saving motives. In contrast, this study examined saving motives directly reported by consumers in a national survey in China. Findings indicated that the three most commonly reported motives were saving for emergency, children's education, and retirement. Mediation analysis results suggested that saving motives reported by Chinese survey participants had clear life cycle patterns.

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Section: Contributions Of This Studymentioning

confidence: 99%

Section: Conceptual Framework and Hypothesesmentioning

confidence: 99%

Section: Economic Factorsmentioning

confidence: 99%

See 1 more Smart Citation

Effects of Age on Saving Motives of Chinese Urban Consumers

2014

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“…Some of them refer directly to motives [16], [20]- [21] and households' ability or propensity to save [22]- [23], while others are focussed on determinants of saving decisions, e.g. socio-demographic [24]- [25] institutional [25]- [27] or macroeconomic [25], [28].…”

Section: Related Literaturementioning

confidence: 99%

Inconvenient Retail Depositors of the Euro Area Credit Institutions — Who Are they?

Kochaniak¹

2016

IJTEF

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Abstract-This paper presents the determinants of the Eurozone households' willingness to possess high value deposits, against the background of post-crisis funding stability regulations for the European Union (EU) credit institutions.The EU Credit Institutions are required to improve the stability of their funding through household deposits' accumulation. However, new supervisory norms -Liquidity Coverage Ratio and Net Stable Funding Ratio -perceive the deposits above EUR 500,000 as less stable and discourage the entities to accept them. This solution may rise a question about the profiles of individuals who provide funding and inefficiently influence the reported liquidity of credit institutions.The aim of this study is to identify the euro area models of households providing large deposits to credit institutions in 9 member states.On the basis of logistic regression models certain supranational characteristics, which boost the probability of deposit possession (wealth and socio-demographic) are recognised.The study is based on household-level data provided by the Eurosystem Household Finance and Consumption Survey.Index Terms-High value household deposits, funding stability, credit institutions, liquidity standards. I. INTRODUCTIONThe European Union (EU) single, post-crisis regulations for credit institutions 1 actively encourage a shift back to traditional sources of funding based on household deposits. Under the standards: Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) included in the package CRD IV/CRR (Directive 2013/36/EU [1]; Regulation (EU) No. 575/2013 [2]), the entities are required to prove the stability of their funding, leveraging an almost total potential of household deposits in the ratios' calculations. However, the new standards favour deposits with precise features, one of which is their value not exceeding the threshold of EUR 500,000. According to the regulations, surpassing this limit makes deposits more vulnerable, i.e. less useful for the fulfilment of the funding requirements. Precise description of stable and less stable household deposits during periods of stress is presented in delegated act of the European K. K. Kochaniak is with Cracow University of Economics, Cracow, Poland (e-mail: katarzyna.kochaniak@uek.krakow.pl).1 Any institution that is either (1) an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credit for its own account, or (2) an undertaking or any other legal person, other than those under (1), which issues means of payment in the form of electronic money. Commission (EC) [3].The aim of this paper is to identify the profiles of households who provide high value deposits 2 for credit institutions in the euro area. It recognises the features boosting the probability of large deposit possession within the populations of 9 countries. The study is conducted on household-level data from the Eurosystem Household Finance and Consumption Survey (HFCS) 3 . Not all member states met the criteria to enter t...

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“…Pragmatic concerns can be outweighed by intrapersonal and interpersonal factors (Devaney, Anong, & Whirl, 2007;Walker, 1996). Knowing what to do does not always translate to behavior; a simple recitation of strategies to maximize wealth and minimize risk will not suffice.…”

Section: Introductionmentioning

confidence: 99%

Increasing Financial Health through Casework Interventions

Smith

Richards

Shelton³

2015

IJSW

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Given a need to increase clients' financial capability, social workers need a new set of techniques. Although financial education is a necessary service to increase financial capability, it is not enough. Practice models are needed to address the psychological and behavioral client needs that are exacerbated by inadequate financial management strategies. In this paper, six casework intervention models are discussed: motivational interviewing, harm reduction, marital and family therapy, dialectical behavior therapy, mindfulness training, and financial therapy. One model, the transtheoretical model, unites the six practice models. The need to validate casework interventions is essential through outcome research. Interventions not grounded in outcome research are speculative and may be misleading. A mixed model using quantitative and qualitative research techniques is proposed to build and evaluate casework intervention models.

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Household Savings Motives

Cited by 103 publications

References 10 publications

Effects of Age on Saving Motives of Chinese Urban Consumers

Effects of Age on Saving Motives of Chinese Urban Consumers

Inconvenient Retail Depositors of the Euro Area Credit Institutions — Who Are they?

Increasing Financial Health through Casework Interventions

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