Differences in Household Saving between Non-Hispanic White and Hispanic Households

Hispanic Journal of Behavioral Sciences, Vol. 34(1), p. 137–159, 2012

24 Pages Posted: 1 Sep 2016

See all articles by Patti Fisher

Patti Fisher

Virginia Polytechnic Institute & State University - Consumer Studies

Chungwen Hsu

Virginia Tech

Date Written: January 24, 2012

Abstract

This study uses the 2007 Survey of Consumer Finances to empirically explore differences in saving behavior between Hispanic (N = 533) and non-Hispanic White (N = 2,473) households. The results of the logistic regression model show that self-employed Hispanics were more likely to save, while self-employment was not significant for Whites. Being unbanked is the only variable that had a significantly negative relationship with saving for both groups. The results indicate that the model of saving applied to U.S. households may not be appropriate in studies focusing on the saving behaviors of Hispanics. In the empirical model estimated in the current article, only age, being unbanked, and self-employment have significant relationships with the saving behaviors of Hispanics, while many variables were significant for White households.

Keywords: Household Saving; Hispanic/Latino; Survey of Consumer Finances; Unbanked

Suggested Citation

Fisher, Patti and Hsu, Chungwen, Differences in Household Saving between Non-Hispanic White and Hispanic Households (January 24, 2012). Hispanic Journal of Behavioral Sciences, Vol. 34(1), p. 137–159, 2012, Available at SSRN: https://ssrn.com/abstract=2832415

Patti Fisher (Contact Author)

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

240 Wallace Hall
Blacksburg, VA 24061
United States

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

Chungwen Hsu

Virginia Tech ( email )

250 Drillfield Drive
Blacksburg, VA 24061
United States

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