Davis, E. P. (1992) Budgeting practices over the life cycle. Financial Counseling andPlanning, 3, 3-16


Davis, E. P. & Carr, R. A. (1992). Budgeting
practices over the life cycle. Financial Counseling andPlanning,
3, 3-16







Budgeting
Practices Over the Life Cycle

Elizabeth P. Davis1 and Ruth Ann Carr2




The
objective of this study was to determine if the presence and formality
of spending plans (budgets) varied across the life cycle. Data were collected
from a sample of non-metropolitan households in Kansas. Stages of the life
cycle were based on a modification of Duvall and Hill’s stages of family
development. Results indicated that while most respondents in all stages
had some kind of a budget, only a minority had written budgets. Respondents
in the retirement age stage were least likely to have any kind of budget,
and least likely to have a written budget. However, they were most likely
to have a budget that covered a period longer than one month. Implications
for financial advising and education are discussed.

Key Words: Budgeting,
Life cycle






Affiliations
at the time of publication:


1.
Elizabeth P. Davis, Assistant Professor, Department of Consumer Science
and Education, 123 Home Economics, University of Nebraska, Lincoln, NE
68583-0801. Phone: (402) 472-7992. 



2.
Ruth Ann Carr,