Download or read book Relationship of Saving Motives to Saving Habits written by Patti J. Fisher and published by . This book was released on 2013 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines how saving motives are related to saving habits using Katona's (1975) psychological classification of saving, where households save regularly (discretionary), save irregularly (residual), or do not save. Of the 3,822 non-retired households in the 2007 Survey of Consumer Finances, 46% saved regularly, 32% saved irregularly, and 22% did not save. Precautionary and retirement motives increased the likelihood of saving regularly or irregularly as compared with not saving, but only the retirement motive separated the regular savers from irregular savers. A long-term planning horizon and higher income increased the propensity for regular or irregular saving as compared with not saving, and for saving regularly as compared with irregularly, while low risk tolerance had the opposite effect. Financial advisors, educators, and policymakers should facilitate short- to long-term goal seeking with frequent saving by individuals and families.

Download or read book How Behavioral Habits Mediate the Relationship Between Personality Traits and Savings written by Ufuk Altunbüken and published by . This book was released on 2016-09-15 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2016 in the subject Sociology - Consumption and Advertising, grade: 4.00, Maastricht University, language: English, abstract: The household saving ratio in the UK has dramatically decreased in recent years. Researchers and policy makers increasingly turn to behavioral economics theory to understand the decline and to derive new saving policy initiatives. By combining the existing literature in this field into a single framework, this paper aims to identify whether and to what extent particular saving habits mediate the relationship between personality traits and saving outcomes. For this, survey data from the UK is used and a dichotomous mediation analysis is conducted. It is found that substantial fractions of the effects that personality traits have on saving outcomes arise due to the influence which these personality traits have on specific saving behaviors, namely whether or not households keep their savings separate from their other money, whether or not they save regularly and whether or not they save out of precautionary motives. These findings can be used to design saving schemes which not only address effective saving habits but at the same time also appeal to individuals' personality traits.

Download or read book Effect of Saving Motives and Horizon on Saving Behavior written by Patti J. Fisher and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this research is to explore saving motives and saving horizon using a large, nationally representative dataset, the Survey of Consumer Finances. The framework is based on prospect theory, in which consumption and saving decisions are based on a reference point rather than on lifetime income. Prospect theory also posits that individuals construct various mental accounts, thereby allowing for households to have multiple saving motives. Since prospect theory does not assume that saving decisions are based on lifetime income, saving horizons are allowed to vary. The emergency and retirement saving motives are found to significantly increase the likelihood of saving regularly. Longer saving horizons are also found to have a highly significant effect on the likelihood of saving, while poor health is shown to have a significantly negative effect on the likelihood of saving. The results show that the saving motives held by households differ by saving horizon, but the exact relationships are unclear. Further research on the link between saving motives, saving horizon, and saving behaviors is needed. It is important for financial professionals and educators to consider a household's saving goals, saving horizon, and health status when making recommendations or developing financial plans.

Download or read book The Psychology of Financial Consumer Behavior written by Dominika Maison and published by Springer. This book was released on 2019-02-28 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book stresses the psychological perspective in explaining financial behavior. Traditionally, financial behaviors such as saving, spending, and investing have been explained using demographic and economic factors such as income and product pricing. The consequence of this way of thinking is that financial institutions view their clients mostly from the perspective of their income. By taking a psychological approach, this book stresses the perspective of consumers confronted with a quickly changing financial world: the changing of financial offers and products (savings, investments, loans), the changing of payment methods (from cash to cheques, cards and mobile payments), the accessibility and temptation of goods, and the changing of insurance and pension systems. The Psychology of Financial Consumer Behavior provides insight into the thought processes of consumers in a variety of financial topics. Coverage includes perceptions of wealth, the pleasure or pain of spending, cashless transactions, saving and investing, loans, planning for the future, taxes, and financial education. The book holds appeal for researchers, professionals, and students in economics, psychology, economic psychology, marketing and consumer science, or anyone interested in financial behaviors.

Download or read book An Introduction to Good Saving Habits written by Gerard Hoffman and published by . This book was released on 2020-10-06 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Let me teach you how to save money! Whether you have a very modest income and don't believe it's possible for you to save, or you make decent money but still spend everything you make, this book can help you. Even if you are in debt and have no idea how to get to the point where you can begin to save money, this book can help. You might feel it's a hopeless situation, but it's not. No matter your situation, if you follow the lessons you learn here, you can completely change your life. Having once been in debt with no money saved, I know how it feels to be where you are, and it's something no one should have to deal with. The stress is brutal. I learned how to change my approach to spending and saving money, and while the change was difficult at first, it became easier. I have taught many people how to make the same positive life changes that I have to begin saving money. Now, I want to help you follow my path to a secure financial future. There's no need to fear that this introduction to good saving habits will force you to live a life of deprivation; just the opposite, really. It's about spending your money on the things that are most important to you and not wasting any on things you can easily do without. If you want to buy a car or house, save for retirement, or reach any other long-term goal, you must eliminate frivolous spending. You'll find that if you stay focused on your goal, it should feel like a worthwhile sacrifice. Being financially unprepared for the future can feel like a weight around your neck. With adequate savings, financial freedom can be yours! If you want to retire early, travel, or simply worry less, the strategies in this book can help you get there. Changing your financial mindset is the most important thing. Instead of living paycheck to paycheck with no plan for saving money, you will learn to think of money saved as an investment in your future and a cushion against emergency expenses. This book will show you: The importance of saving money, from the need to prepare for the future to eliminating the stress of worrying about not being able to pay your bills. How to save money by developing good money-saving habits. A step-by-step guide to preparing a budget that works for you and your lifestyle. The importance of setting and prioritizing saving goals. An introduction to banking tools and how to make your money work for you. How to live within your means and not rely on credit cards. The way to handle debt. Boost your income and save the additional money. Tips for reducing your spending on utilities, food, and household goods. Bargain hunting and smart coupon strategies. How to budget for fun experiences, but also get the most for your money. Ways to reduce temptation to overspend or buy things you don't need. Psychological triggers linked to spending money and how to resist them. ... and much more! It's by learning how to start saving your money, that you stand the best chance of making your long-term goals a reality (and sooner rather than later, too). Want to better manage your money? Here is where you take your very first step, just scroll up and click the "Buy Now" button and let's get started!

Download or read book Economic Psychology written by Rob Ranyard and published by John Wiley & Sons. This book was released on 2017-08-14 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive overview of contemporary economic psychology Economic Psychology presents an accessible overview of contemporary economic psychology. The science of economic mental life and behavior is increasingly relevant as people are expected to take more responsibility for their household and personal economic decisions. The text will, in addition to reviewing current knowledge on each topic presented, consider the practical and policy implications for supporting economic decision making. Economic Psychology examines the central aspects of adult decision making in everyday life and includes the theories of economic decision making based on risk, value and affect, and theories of intertemporal choice. The text reviews the nature and behavioral consequences of economic mental representations about such things as material possessions, money and the economy. The editor Robert Ranyard—a noted expert on economic psychology—presents a life-span developmental approach, from childhood to old age. He also reviews the important societal issues such as charitable giving and economic sustainability. This vital resource: Reviews the economic psychology in everyday life including financial behaviour such as saving and tax-paying and matters such as entrepreneurial activity Offers an introduction to the field and traces the emergence of the discipline, from Adam Smith to George Katona and Herbert Simon Includes information on societal issues such as charitable giving and pro-environmental behaviour Considers broader perspectives on economic psychology: life-span psychological development from childhood to old age Written for students of psychology, Economic Psychology reviews the most important information on contemporary economic psychology with a focus on individual and household economic decision making, ranging widely across financial matters such as borrowing and saving, and economic activities such as buying, trading, and working.

Download or read book Education Income and Human Behavior written by Francis T. Juster and published by . This book was released on 1974 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Psychology of Money written by Michael Argyle and published by Routledge. This book was released on 2013-10-23 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This fascinating book examines such diverse and compelling subjects as: money and power, gender differences, morality and tax, the very rich, the poor, lottery and pools winners, how possessions and wealth affect self-image and esteem, why some people become misers and others gamblers, spendthrifts and tycoons, and why some people gain more pleasure from giving away money than from retaining it. Comprehensive and cross-cultural, The Psychology of Money integrates fascinating and scattered literature from many disciplines, and includes the most recent material to date. It will be of interest to psychologists, sociologists, anthropologists and to people interested in business and economics.

Download or read book Overcoming the Saving Slump written by Annamaria Lusardi and published by University of Chicago Press. This book was released on 2009-10-15 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: The great majority of working Americans are unprepared to face the difficult task of planning for retirement. In fact, the personal savings rate has been holding steady at zero for several years, down from 8 percent in the mid-1980s. Overcoming the Saving Slump explores the many challenges facing workers in the transition from a traditional defined benefit pension system to one that requires more individual responsibility, analyzing the considerable impediments to saving and evaluating financial literacy programs devised by employers and the government. Mapping the changing landscape of pensions and the rise of defined contribution plans, Annamaria Lusardi and others investigate new methods for stimulating saving and promoting financial education drawing on the experience of the United States as well as countries that have privatized their welfare systems, including Sweden and Chile. This timely volume pinpoints where human resources departments, the financial industry, and government officials have succeeded—or failed—in bridging the way to a new retirement system. As the workforce ages and more pensions disappear each second, Lusardi’s findings will be invaluable for economists and anyone facing retirement.

Download or read book Economics and Politics written by Harun BAL and published by Akademisyen Kitabevi. This book was released on 2019-03-12 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.

Download or read book Household Finance written by Sumit Agarwal and published by Springer Nature. This book was released on 2020-10-07 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Household finance studies is a relatively recent field, exploring a growing understanding of how households make financial decisions relating to the functions of consumption, payment, risk management, borrowing and investing; how institutions provide goods and services to satisfy these financial functions of households; and how interventions by firms, governments and other parties affect the provision of financial services. This timely book analyses existing findings about household behavior as well as findings related to policy interventions. With international case studies, this book reviews a topic of global importance and brings a crucial up-to-date survey of the field for researchers and postgraduate students.

Download or read book Outwitting the Devil written by Napoleon Hill and published by Sharon Lechter. This book was released on 2011 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally written in 1938 but never published due to its controversial nature, an insightful guide reveals the seven principles of good that will allow anyone to triumph over the obstacles that must be faced in reaching personal goals.

Download or read book Leaders Eat Last written by Simon Sinek and published by Penguin. This book was released on 2014-01-07 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New York Times bestseller by the acclaimed, bestselling author of Start With Why and Together is Better. Now with an expanded chapter and appendix on leading millennials, based on Simon Sinek's viral video "Millenials in the workplace" (150+ million views). Imagine a world where almost everyone wakes up inspired to go to work, feels trusted and valued during the day, then returns home feeling fulfilled. This is not a crazy, idealized notion. Today, in many successful organizations, great leaders create environments in which people naturally work together to do remarkable things. In his work with organizations around the world, Simon Sinek noticed that some teams trust each other so deeply that they would literally put their lives on the line for each other. Other teams, no matter what incentives are offered, are doomed to infighting, fragmentation and failure. Why? The answer became clear during a conversation with a Marine Corps general. "Officers eat last," he said. Sinek watched as the most junior Marines ate first while the most senior Marines took their place at the back of the line. What's symbolic in the chow hall is deadly serious on the battlefield: Great leaders sacrifice their own comfort--even their own survival--for the good of those in their care. Too many workplaces are driven by cynicism, paranoia, and self-interest. But the best ones foster trust and cooperation because their leaders build what Sinek calls a "Circle of Safety" that separates the security inside the team from the challenges outside. Sinek illustrates his ideas with fascinating true stories that range from the military to big business, from government to investment banking.

Download or read book Atomic Habits written by James Clear and published by Penguin. This book was released on 2018-10-16 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The #1 New York Times bestseller. Over 20 million copies sold! Translated into 60+ languages! Tiny Changes, Remarkable Results No matter your goals, Atomic Habits offers a proven framework for improving--every day. James Clear, one of the world's leading experts on habit formation, reveals practical strategies that will teach you exactly how to form good habits, break bad ones, and master the tiny behaviors that lead to remarkable results. If you're having trouble changing your habits, the problem isn't you. The problem is your system. Bad habits repeat themselves again and again not because you don't want to change, but because you have the wrong system for change. You do not rise to the level of your goals. You fall to the level of your systems. Here, you'll get a proven system that can take you to new heights. Clear is known for his ability to distill complex topics into simple behaviors that can be easily applied to daily life and work. Here, he draws on the most proven ideas from biology, psychology, and neuroscience to create an easy-to-understand guide for making good habits inevitable and bad habits impossible. Along the way, readers will be inspired and entertained with true stories from Olympic gold medalists, award-winning artists, business leaders, life-saving physicians, and star comedians who have used the science of small habits to master their craft and vault to the top of their field. Learn how to: make time for new habits (even when life gets crazy); overcome a lack of motivation and willpower; design your environment to make success easier; get back on track when you fall off course; ...and much more. Atomic Habits will reshape the way you think about progress and success, and give you the tools and strategies you need to transform your habits--whether you are a team looking to win a championship, an organization hoping to redefine an industry, or simply an individual who wishes to quit smoking, lose weight, reduce stress, or achieve any other goal.

Download or read book The Psychology of Saving written by Karl Erik W‹rneryd and published by Edward Elgar Publishing. This book was released on 1999-01-01 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some people save and others with similar incomes and wealth do not. Why? Whilst psychology has devoted little attention to the forward looking dimension of human behavior, it contributes theories and techniques for studying the cognitive, motivational, and social factors that affect saving. The book examines the assumption that man is forward looking and desires to provide for the future. It summarizes theories and behavioral research in the area of saving and explores the psychological insights and findings of economists and interprets them in terms of modern psychology. The Psychology of Saving will be welcomed as a major contribution to economic psychology which brings together research and analysis, developing our understanding about rationality, expectations, and consumer behavior.

Download or read book How to Worry Less About Money written by John Armstrong and published by Pan Macmillan. This book was released on 2012-05-10 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our relationship with money is one that lasts a lifetime, yet traditionally books on the subject tend to take one of two routes: a) how to get more, or b) how to deal with less. John Armstrong turns these approaches upside down, and looks not at money itself, but at how we relate to it and the meaning we attach to it. How does it drive us and frighten us? Can it change the world for the better? And how much do we actually need? Offering surprising and helpful new insights, this book will encourage you to redefine your feelings about money, and ultimately enable you to discover what is really important to you in life. One in the new series of books from The School of Life, launched May 2012: How to Stay Sane by Philippa Perry How to Find Fulfilling Work by Roman Krznaric How to Worry Less About Money by John Armstrong How to Change the World by John-Paul Flintoff How to Thrive in the Digital Age by Tom Chatfield How to Think More About Sex by Alain de Botton