Perceived Saving Motives and Hierarchical Financial Needs

Posted: 5 May 2000

See all articles by Jing Jian Xiao

Jing Jian Xiao

University of Rhode Island

Franziska E. Noring

University of Rhode Island

Abstract

Data from the 1986 Survey of Consumer Finances were used to analyze perceived saving motives. The results of Chi-square tests indicated that perceived saving motives were different in terms of the household's home ownership, marital status, number of children, life cycle stage, employment status, income, asset and debt categories, net worth, and the head's gender and education. Differences found in perceived saving motives suggested some hierarchical associations among various financial needs perceived by the consumers. Findings have implications for financial counseling and planning practitioners and educators.

JEL Classification: D91, D10

Suggested Citation

Xiao, Jing Jian and Noring, Franziska E., Perceived Saving Motives and Hierarchical Financial Needs. Available at SSRN: https://ssrn.com/abstract=5673

Jing Jian Xiao (Contact Author)

University of Rhode Island ( email )

Transition Center
Kingston, RI 02881
United States
401-874-2547 (Phone)
401-874-4020 (Fax)

HOME PAGE: http://www.uri.edu/hss/hdf/faculty/JingJXiao.htm

Franziska E. Noring

University of Rhode Island

Kingston, RI 02881
United States

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