Using the Transtheoretical Model of Change to assess differences
among households at separate stages of saving behavior development
Angela Fontes and Michael S. Gutter, University of
Personal savings is seen as an important aspect of financial
security both for the attainment of financial goals such as retirement, and as
a safety net in cases of job instability.
Although research has shown there to be important demographic
differences in saving and non-saving households, the purpose of this paper is
to examine demographic differences and saving intent within the Transtheoretical Model of Change framework. This project uses data collected from Voluntary
Income Tax Assistance participants in Wisconsin. A cumulative logit
model is used to analyze the relationship between households demographic
characteristics and their stage of saving behavior.