We examine household saving in the context of a prescriptive model. Using Survey of Consumer Finances data sets in the 1995-2004 period, 57% of households reported spending less than income. Many effects in the multivariate analysis are consistent with a prescriptive model. We discuss other...

We extend previous research on factors related to workers stating that they would never retire, by analyzing the impact of financial knowledge variables on the expectation. The never retire rate is related to objective financial knowledge, with a 20% rate for those who missed all questions,...

This study analyzed the relation between financial knowledge and household saving behavior using the 2016 Survey of Consumer Finances (SCF) dataset. The results from a hierarchical model showed that both objective and perceived financial knowledge were related positively to the likelihood of...

This study explored saving behavior among low-income households through the institutional theory of saving behavior by (1) determining asset differences between saving and non-saving households, (2) exploring factors related to saving behavior, and (3) identifying differences between two saving...

In an analysis of a combination of the 1998 to 2007 Survey of Consumer Finances datasets, the use of the Internet for savings and investment decisions grew much more rapidly than the use of financial planners for those decisions. A multivariate analysis of the use of financial planners showed...

We examine the effects of self-control mechanisms on saving behavior using the 2013 Survey of Consumer Finances (SCF), following the assumptions of research that analyzed the 1998 SCF. Self-control mechanisms include saving goals, foreseeable expenses, and saving rules. We find a positive effect...

This study investigated the effect of objective and subjective financial literacy on mortgage payment delinquency using the 2015 National Financial Capability Study dataset. A hierarchical model showed a substantial negative effect of objective literacy on delinquency, but subjective literacy...