Regional Differences in Financial Resources, Assets, and Savings Behavior of Low-Income Families
This study examined differences in financial resources, assets, savings attitudes, methods of saving, and demographic characteristics of low-income families from different regions in the United States. Further, the effects of these variables on nominal and real savings for families in each region were analyzed. Chi-square results indicated that families from the South were less likely to have private or employer-sponsored health insurance and VA medical benefits. Families from the South were also less likely to own assets and save; however, more southern families than nonsouthem families said they would increase savings if interest rates increased. Regression results indicated that nonsouthern families who received Medicare and had stocks and/or mutual funds were more likely, and those who had IRAs and/or Keoghs, profit sharing and/or thrift accounts, and were older were less likely to increase savings. None of the variables were statistically significant predictors of increase in savings for southern families.
Lewis, Joan. 1995. "Regional Differences in Financial Resources, Assets, and Savings Behavior of Low-Income Families." Journal of Rural Social Sciences, 11(1): Article 5. Available at: https://egrove.olemiss.edu/jrss/vol11/iss1/5