Xiao, 1994

Xiao, J. J., & Noring, F. (1994). Perceived saving
motives and hierarchical financial needs. Financial Counseling and Planning,
5, 25-44.

Perceived Saving Motives and Hierarchical Financial

Jing J. Xiao (1) and Franziska E. Noring (2)

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.

 Key Words: financial needs, saving motives

1. Jing J. Xiao, Assistant Professor, Consumer Affairs Program, College of
Human Science and Service, University of Rhode Island, Kingston, RI 02881.
Phone: (401) 874-4036. Fax: (401) 874-2581. E-mail: xiao@uriacc.uri.edu.

2. Franziska E. Noring,

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