Gender differences in saving behaviors among low- to moderate-income households
DOI:
https://doi.org/10.61190/fsr.v24i1.3232Keywords:
Savings behavior, Gender, Low to moderate incomeAbstract
In this study we explore gender differences in saving behaviors among low- to moderate-income households using data collected online from a national sample of low- to moderate-income households (NC1172) and data on similar income single households from the 2010 Survey of Consumer Finances (SCF). Results show that saving behaviors differ by gender. With the NC1172 sample, we find gender differences in the effects of high-risk tolerance and being non-White on the likelihood of being a saver. In the SCF, the presence of other household members affects savings differently for women and men. Educators and counselors can encourage savings among men and women in low- to moderate- income households as a way to reduce financial risk and ensure financial security.
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