Saving among lower income groups: Principles from empirical research

Andrea D Finney

Research output: Contribution to conferenceOther Conference Contribution

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Abstract

Most people on lower incomes save, but often only sporadically, informally and in small amounts. This presentation explores why people on lower incomes save, why they often do not do so formally and the meanings of 'saving' and the language people use. It considers three principles that could help encourage greater rates of saving among lower income groups: the importance of self-efficacy; the use of effective messages and messengers; and the application of more targeted mechanisms to facilitate saving.
Original languageEnglish
Pages1-14
Number of pages14
Publication statusUnpublished - 3 May 2013
EventActuarial Profession's Consumer Information Working Party and Department of Work and Pensions Rules of Thumb workshop - London, United Kingdom
Duration: 3 May 20133 May 2013

Workshop

WorkshopActuarial Profession's Consumer Information Working Party and Department of Work and Pensions Rules of Thumb workshop
CountryUnited Kingdom
CityLondon
Period3/05/133/05/13

Keywords

  • Saving
  • low income
  • research

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