Gender Differences in Personal Saving Behaviors

11 Pages Posted: 4 Aug 2016 Last revised: 12 Oct 2016

See all articles by Patti J. Fisher

Patti J. Fisher

Virginia Polytechnic Institute & State University - Consumer Studies

Date Written: 2010

Abstract

Gender differences in personal saving behaviors among single person households were investigated using the 2007 Survey of Consumer Finances (SCF). Determinants of short-term and regular saving behavior were found to differ by gender. Women (n = 702) were less likely to save in the short term if they were in poor health, while poor health did not significantly affect the short term saving of men. Having low risk tolerance negatively affected the likelihood of women saving in the short term and saving regularly, while each year of education made men (n = 469) more likely to save in the short-term and to save regularly. Understanding the saving behaviors of men and women can help improve the efforts of financial professionals and educators.

Keywords: gender differences, risk tolerance, saving, Survey of Consumer Finances

JEL Classification: D12

Suggested Citation

Fisher, Patti J., Gender Differences in Personal Saving Behaviors (2010). Journal of Financial Counseling and Planning, Vol. 21, No. 1, 2010. Available at SSRN: https://ssrn.com/abstract=2803965

Patti J. Fisher (Contact Author)

Virginia Polytechnic Institute & State University - Consumer Studies ( email )

Blacksburg, VA 24061
United States

HOME PAGE: http://https://sites.google.com/a/vt.edu/pattifisher/

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