Can the Poor Save?

Using the 1998 Survey of Consumer Finances, we explore the asset holdings of poor and low income households, their available resources for meeting short-term emergencies, and the determinants of being a "saver" as defined here. We find that socioeconomic and demographic characteristics as...

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Bibliographic Details
Published in:Financial counseling and planning 2003-01, Vol.14 (1), p.1
Main Authors: Hogarth, Jeanne M, Anguelov, Chris E
Format: Article
Language:English
Subjects:
Community Benefits
Community Development
Community Involvement
Community Relations
Demographics
Education
Emergencies
Family (Sociological Unit)
Financial institutions
Households
Income distribution
Institutional Environment
Investment
Low income groups
Marital Status
Money Management
Poverty
Researchers
Savings
Socioeconomic factors
Studies
Well Being
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Summary:Using the 1998 Survey of Consumer Finances, we explore the asset holdings of poor and low income households, their available resources for meeting short-term emergencies, and the determinants of being a "saver" as defined here. We find that socioeconomic and demographic characteristics as well as expectations and motivations, access to resources, and the institutional environment are significantly associated with poor and low-income households being able to save. [PUBLICATION ABSTRACT]
ISSN:1052-3073