Household Saving Behavior Research Articles

Religion and Household Saving Behavior

We examine the effect of religion on household saving behavior. For a sample of 12,686 U.S. households between 2000 and 2016, we find that religious households (i.e., households that have a religious affiliation) are more likely to hold savings accounts than non-religious households. Furthermore, using religious upbringing as an instrument, we show that religion-induced economic attitudes, such as future time preference and risk aversion, increase household saving propensity. Finally, the positive association between religious affiliation and saving propensity is more pronounced for Catholics than Protestants. Overall, our study highlights the importance of religion in shaping households’ saving behavior. (JEL G51, Z12, D14, D91)

The Relationship Between Self-Control Factors and Household Saving Behavior

We examined the effect of self-control factors on saving behavior based on the behavioral life cycle hypothesis, using the 2016 and 2019 Survey of Consumer Finances datasets. A model which included self-control factors (behavioral life cycle variables) had a more significant effect on saving behavior than a model that included only normative life cycle variables. Among self-control factors, having at least one saving rule was positively associated with saving behavior but saving goals were not significantly associated with saving behavior. Having a foreseeable major expense was negatively associated with saving behavior. The findings of this study can assist financial planners, counselors, and educators in developing and implementing strategies related to self-control factors to enhance saving behavior.

A Study on Savings Behaviour in Households of Small Farmers in Raipur District, Chhattisgarh, India

Every economy relies heavily on the savings generated by the household sector to expand. They are the primary driver if capital accumulation and the determinants of economic investment possibilities. Numerous factors, both internal connected directly to a certain household and external unrelated to it influence how families behave financially in terms of conserving money. The aim of this paper was to analyse savings behaviour of households of farmers in Raipur district (Chhattisgarh) in 2019, 2020 and 2021. Analyses were conducted on saving ability, saved, Extent able to survive to event to no income, Objectives and Forms of savings accumulation by households of various socio-economic groups. Analyses showed that in saving ability of household was maximum in year 2021, compared to year 2019, 2020. Most people were saved between 20-40% of their total income. Most of people can survive for over 6 months up to annual without any income using their saved income. Presents the savings preferences of different categories of farmer households. The analysis concludes that the primary savings objectives for households were covered. Households that had savings often declared that they deposited it as fixed expenditure, medical bills and Purchase for durable goods. Most people were like to save in banks. This may be because households find banks safer than other savings options.

The Relationship between Self-Control Factors and Household Saving Behavior

The Relationship between Self-Control Factors and Household Saving Behavior

Is There a Relationship Between Household Saving Behavior, Trust in Financial Institutions and Saving Attitudes in Contemporary Russia?

Is There a Relationship Between Household Saving Behavior, Trust in Financial Institutions and Saving Attitudes in Contemporary Russia?

Economic analysis of household savings behaviour: Insights from India

Economic analysis of household savings behaviour: Insights from India

재산세가 가구의 저축행위에 미치는 영향 분석

This paper analyzes the impact of property taxes on household savings behavior using fiscal panel data from the 7th to the 14th. The objective is to examine whether property taxes have a significant policy effect in mitigating wealth inequality. Specifically, we focus on intergenerational inequality and use a panel fixed effect model to investigate whether changes in property taxes have different effects on different generations. When we limit the sample to the years 2014-2019, property taxes and comprehensive real estate taxes were found to have a negative impact only on the savings behavior of household heads born after 1974. Conversely, when including the period of a sharp increase in property taxes as a percentage of GDP (2020-2021), a significant negative correlation was observed in the savings behavior of household heads born before 1964. We interpret these results as supporting the notion that property taxes are a significant policy tool in determining the direction of intergenerational wealth inequality.

БАНКІВСЬКІ ЗАОЩАДЖЕННЯ ДОМОГОСПОДАРСТВ: СТРУКТУРА, ДИНАМІКА, ТЕНДЕНЦІЇ ПІД ЧАС КРИЗОВИХ СТАНІВ ЕКОНОМІКИ УКРАЇНИ

The article is devoted to the issues assessing the state household bank savings during the crisis states of the Ukrainian economy, which were observed in 2008-2009, 2014-2016, and 2020-2022 and were caused by various reasons. Based on the analysis the structure bank savings, their types, dynamics and trends, it was concluded that the savings behavior of households had multidirectional vectors. In particular, during the crisis states the economy in 2009, 2014-2016, 2020-2021, household savings in the national currency had a downward trend, while in foreign currency – an increasing trend. The overflow of savings from national currency to foreign currency proves the existence high devaluation expectations during the crises observed in Ukraine. The assessment the structure household savings during the analyzed period showed that the lion's share of deposits in their total volume belongs to short-term deposits “on demand”, which in the current year has a growing tendency. Such a trend is threatening and carries potential risks for the stability the exchange rate dynamics of the hryvnia and the reduction of inflation rates in Ukraine. Low interest rates on longer-term household deposits and low trust in banks during economic crises are among the main reasons for this trend. It was determined that certain factors affect the saving behavior and motivation of households during economic crises, including the presence of asymmetric information, which does not make it possible to make an informed decision; insufficient level of financial literacy; the advantage of investing in foreign currency; accumulation of funds outside the banking system in various assets. It is emphasized that household savings have active and passive forms. Active savings are an investment potential for their owners and the state as a whole. Passive savings in conditions of economic growth are a factor inhibition of macroeconomic development and a lost opportunity for the country. Restoration of economic growth requires large amounts investment, the source which in any country is domestic savings.

Household Saving Behaviour in District Peshawar, Khyber Pakhtunkhwa

The main purpose of this study is to examine household saving behaviour in the district of Peshawar Khyber Pakhtunkhwa. Data for this study was conducted through a survey questionnaire and questionnaires were distributed among 400 households of district Peshawar town III. The data was analyzed through the ordinary least square method using SPSS 26. Weighted least square (WLS) was used for estimation. The study explored that there is a strong link between household savings and planned variables. The results show that the total income of households has a direct and significant relationship with the savings of the households, so the result goes with the Keynesian theory of income and saving. Furthermore, a number of adult equivalence and debt have positive and significantly related to household saving in district Peshawar, whereas the dependency ratio has a negative but significant relationship with household saving in the study area which means that when a number of dependents in a family increases the rate of saving of that family decreases. The study suggests that the government of Khyber Pakhtunkhwa should increase employment opportunities for those who depend on their family.

Savings Dynamics of Low-Income Households: Evidence from Chattogram, Bangladesh

Saving is one of the most imperativerudiments in a developing country's ability to advance that needs to be moredeveloped.Thegoal of this research is to inspect the influential factorsthat have a dynamic connection with the savings behavior of a sample of individuals who were randomly chosen in a low-income group in Chattogram District,the commercial capital of Bangladesh. For this purpose, data were collected from 2000 people selected onasimple random basis,both rural and urban families, of Chattagram district, Bangladesh to determine the saving habits of lower-income groups.To better understand household savings behavior among low-income groups, we used various regression analytic methods to estimate the values of the slope and intercept coefficients of the regression model. According to the results, the samples that answered the questionnaire had the following features in common: Men and females were ranging in age from 31 to 40 years old, married or not, and with just a primary level of education; the majority of them are non-service holders with incomes less than or equal to 10,000.00 Tk.The inferential statistics revealed that the factors of income and the function of financial institutions are significant in the connection between saving behavior and every component of the economy, excepting other independent variable such as age, marital status, domicile, employment status, education, family size, financial knowledge, saving institutions, motivators of saving which also affects savings behavior but these were statistically insignificant.

Antecedents of Savings Behaviour Among Rural Households: A Holistic Approach

The main purpose of this research is to empirically examine the antecedents of household savings behaviour in the Metekele, Beneshangu Guzu state of Ethiopia. In this study, three broader factors (household characteristics, socio-economic variables and institutional variables) influencing savings decisions of households have been identified and examined. This study followed mixed method research design with questionnaire and in-depth interviews as the main instruments. Binary logistic regression has been mainly utilized to analyse the quantitative data. The findings revealed age, educational level, family size, number of livestock unit, income, irrigation utilization, production season, participation in non-farm activities, use of credit, training and education significantly impact savings behaviour. However, sex, religion, marital status, land ownership and expenditure were found insignificant contributors to the model. The government and concerned parties should support more for the decision to save by facilitating and undertaking training on saving options, conducting regular review and monitoring to develop a clear policy on the importance of savings specifically for households on habit of regular savings.

Influence of Socio-economic and Demographics factors on Households’ Savings in Sri Lanka

The purpose of this paper is to examine the factors influencing saving behavior among households in a developing country. Sri Lanka being a developing country, has recorded a relatively lower households’ saving rate when compared with its peer regional counterparts. The study approximates the socio-economic and demographic factors towards the level of saving of households in Sri Lanka using a quantile regression approach based on the Household Income and Expenditure Survey, conducted by the Department of Census and Statistics of Sri Lanka. Results were obtained by using the stepwise quantile regression technique. The findings of this study conclude that when Sri Lankan households have a higher per-capita income, they tend to have a higher saving level. Moreover, age and marital status have a significant impact on the level of saving in Sri Lankan households. Additionally, poverty and employment status have a significant impact to the level of saving on Sri Lankan households. This research paper bridges empirical gaps in this area of study. Furthermore, this study has been conducted encompassing the entire country rather than limiting it to a district or segment, hence, is comprehensive. As per the generated results gender, income and education levels have shown a significant positive impact towards the level of saving, whilst marital status and poverty have shown a significant negative impact towards the level of saving. It is considered that when the demographic and socio-economic factors are affecting favorably, the level of saving tends to increase and vice versa. Accordingly, findings of the study can provide insights to policymakers to devise policies and incentives to encourage savings behaviour and level of savings among households in Sri Lanka. This is beneficial as coping strategies specially during crises, where dependency of households on government assisted welfare schemes is likely to be less.
 Keywords: Household Saving Behaviour, Motives of Savings, Barriers to Saving, Quantile Regression

Household Saving Behavior on Formal Financial Institutions in Urban and Rural Areas

This research aimed to examine the household saving behavior on formal financial institutions in urban and rural areas. The data sources of this research from the Central Bureau of Statistics (BPS), namely the 2018 Indonesia national socio-economic survey (SUSENAS) and the 2018 Indonesia village potential survey (PODES).The research sampleswere 126 539 households in urban and 168 562 households in rural spread over 34 provinces in Indonesia. The analytical method used logistic regression to determine the household behavior in the savings ownership in a formal bank institution.Several factors that affect savings ownership included socio-demographic and institutional factors. The estimation results showed that all socio-demographic factors affected savings ownership in urban, while institutional factors, namely government bank and private banks did not have a significant effect. Otherwise, institutional factors had a significant effect on savings ownership in rural, while socio-demographic factors (house ownership) did not havea significant effect. The findings were very important to improve saving behavior and provide alternative policies related to banking infrastructure development in Indonesia.

Household Saving Behavior on Formal Financial Institutions in Urban and Rural Areas

This research aimed to examine the household saving behavior on formal financial institutions in urban and rural areas. The data sources of this research from the Central Bureau of Statistics (BPS), namely the 2018 Indonesia national socio-economic survey (SUSENAS) and the 2018 Indonesia village potential survey (PODES).The research sampleswere 126 539 households in urban and 168 562 households in rural spread over 34 provinces in Indonesia. The analytical method used logistic regression to determine the household behavior in the savings ownership in a formal bank institution.Several factors that affect savings ownership included socio-demographic and institutional factors. The estimation results showed that all socio-demographic factors affected savings ownership in urban, while institutional factors, namely government bank and private banks did not have a significant effect. Otherwise, institutional factors had a significant effect on savings ownership in rural, while socio-demographic factors (house ownership) did not havea significant effect. The findings were very important to improve saving behavior and provide alternative policies related to banking infrastructure development in Indonesia.

Significance of Financial Literacy on Personal Savings Behaviour: A study of the City of Tshwane and Mahikeng Municipality Employees

The objective of this study was to identify the level of financial literacy among South African households and statistically ascertain the impact of financial literacy variables on household savings behaviour. Quantitative research was conducted to achieve these objectives, where data was collected from the employees of City of Tshwane and Mahikeng Municipality. A cluster analysis was employed to identify the group cluster of respondents. In addition, a Path Coefficient analysis was conducted to identify the significance of financial literacy on household savings behaviour. The study's findings revealed that the respondents have a reasonable level of financial literacy, which is in line with the conceptual findings of previous literatures. Secondly, it was ascertained that variables under financial control, financial planning, financial knowledge, and understanding positively impact household savings behaviour. Meaning that the more they are familiar with these variables, the more they are likely to save. On the contrary, the variables under the construct of knowledge of financial products and services were identified to impact household savings behaviour negatively, meaning that the more they are knowledgeable on financial products and services, the lesser they are likely to save. Hence, it was concluded that stakeholders and policymakers in charge of financial and savings literacy in South Africa should incorporate these identified positive variables of financial literacy into their savings campaign programmes.

Determinants of Household Saving Behaviour in Turkey

The study aims to detect demographics and economic factors and the factors related to residential properties and social-environmental indicators affecting household savings in Turkey. In the study, cross-sectional data was obtained from the Household Budget Survey conducted by the Turkish Statistical Institute between the years 2015-2017. Binary logistic regression and binary probit regression analyses determined household savings factors. According to the analysis results, the factors like the occupation of the household head, educational status, gender, age, marital status, household size, automobile ownership, and survey year were determined to affect the saving behaviour of households.

On the Saving Behavior of European Households

On the Saving Behavior of European Households

Determinants of Japanese Household Saving Behavior in the Low-Interest Rate Environment

Abstract This paper scrutinizes the role of prolonged, expansionary monetary policy on the saving behavior of Japanese households, focusing on the dramatic change of the household savings rate since 1998, from high to low saving. The literature generally attributes this change to the country’s shift from high-growth to low-growth and its demographic change. This paper empirically examines changes in the incentives for saving and the ability to save connected to monetary policy. It finds that monetary policy had a significant impact on Japan’s household saving behavior via the interest rate channel but not the labor income channel. There is also evidence that rising government deficits come along with declining household saving and that rising wealth boosts saving.

Impact of Socioeconomic Factors on the Saving Behavior of the RA Resident Households

Impact of Socioeconomic Factors on the Saving Behavior of the RA Resident Households

Determinants of Japanese Household Saving Behavior in the Low-Interest Rate Environment

This paper scrutinizes the role of prolonged, expansionary monetary policy on the savings behavior of Japanese households, focusing on the dramatic change of the household savings rate since 1998, from high to low savings. The literature generally attributes this change to the country’s shift from high-growth to low-growth and its demographic change. This paper empirically examines changes in the incentives for saving and the ability to save connected to monetary policy. It finds that monetary policy had a significant impact on Japan’s household behavior via the interest rate channel and the redistribution channel but not the labor income channel. There is also evidence that rising wealth boosts savings.