Savings Behavior And Satisfaction With Savings: A Comparison Of Low‐ And High‐Income Groups

Associations between satisfaction with savings and level of savings with mea sures of motivation to save, motivations to spend, and family resources were found to differ substantially between low‐ and high‐income couples. Below a threshold level of income of $9,000, it appeared that couples simply could not afford to save very much of their limited incomes. Above that apparent threshold level, savings rose very rapidly with income. Among couples whose incomes were above the threshold, satisfaction with savings was primarily a function of income, savings, and family size, while level of savings was primarily a function of income, education, family size, and home ownership. Motivation to save was associated with both savings and satisfaction with savings in terms of significant quadratic relationship.