Lewis, J. K. (1996). Savings behavior of low-income families. Financial Counseling and Planning, 7, 81-86.
Effect of Financial Resources And Credit On
Savings Behavior Of Low-Income Families
This study examined the effects of available financial resources, credit use, savings attitudes,
methods of saving, and demographic characteristics on the change in low-income families’ real
savings (change in real net worth) from 1983 to 1986. Multiple regression results indicated that
having a higher level of education, having larger families, and expecting financial assistance
from friends or relatives in emergency situations increased real savings. In addition, having
higher outstanding 1983 noninstallment loan balances increased real savings, while having
lower 1983 net worth increased real savings from 1983 to 1986.
KEY WORDS: financial resources and credit, savings behavior, low-income families
1. Joan Koonce Lewis, Associate Professor, Department of Housing and Consumer Economics, University of Georgia, Dawson Hall, Athens, Georgia
30602-3622 Phone: (706) 542-4865. Fax:(706)542-4397. E-mail: jlewis@hestia.fcs.uga.edu