Saving among lower income groups: Principles from empirical research

Andrea D Finney

Saving among lower income groups: Principles from empirical research

Andrea D Finney

Research output: Contribution to conference › Other 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 language	English
Pages	1-14
Number of pages	14
Publication status	Unpublished - 3 May 2013
Event	Actuarial Profession's Consumer Information Working Party and Department of Work and Pensions Rules of Thumb workshop - London, United Kingdom Duration: 3 May 2013 → 3 May 2013

Workshop

Workshop	Actuarial Profession's Consumer Information Working Party and Department of Work and Pensions Rules of Thumb workshop
Country/Territory	United Kingdom
City	London
Period	3/05/13 → 3/05/13

Keywords

Saving
low income
research

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2 Commissioned report

Towards a nation of savers: understanding and overcoming the challenges to saving on a lower income
Finney, A. & Davies, S., Jul 2011, Provident Financial. 96 p.
Research output: Book/Report › Commissioned report
Saving in lower-income households: a review of the evidence
Kempson, H. & Finney, A., 30 Jun 2009, Financial Inclusion Taskforce. 87 p.
Research output: Book/Report › Commissioned report

Cite this

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title = "Saving among lower income groups: Principles from empirical research",

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.",

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N2 - 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.

AB - 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.

KW - Saving

KW - low income

KW - research

M3 - Other Conference Contribution

SP - 1

EP - 14

T2 - Actuarial Profession's Consumer Information Working Party and Department of Work and Pensions Rules of Thumb workshop

Y2 - 3 May 2013 through 3 May 2013

ER -

Saving among lower income groups: Principles from empirical research

Abstract

Workshop

Keywords

Handle.net

Fingerprint

Research output

Towards a nation of savers: understanding and overcoming the challenges to saving on a lower income

Saving in lower-income households: a review of the evidence

Cite this