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...

The Survey of Consumer Finances was used to assess the explanatory power of self-control mechanisms, controlling for other important constructs from the standard life cycle model of saving. The analysis focused on saving goals, foreseeable expenses, and saving rules as mechanisms of...

The purpose of this paper is to examine factors associated with changes in the proportion of households with high financial obligations ratios in the United States. The proportion of households paying more than 40% of income for debt, rent, vehicle leases, property taxes, and homeowners...

The recession that started in December 2007 was longer than any since the Great Depression of the 1930s. Household incomes dropped and unemployment rates increased to over 9%. We investigate the proportion of households having financial obligations over 40% of pretax income (having a high...

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...