HOUSEHOLD SAVING MOTIVES AND SOCIO-DEMOGRAPHIC FACTORS
HOUSEHOLD SAVING MOTIVES AND SOCIO-DEMOGRAPHIC FACTORS

Summary/Abstract: This research was inspired by broad discussions on the motives for saving. We examine therelationship between the motives for saving and the socio-economic characteristics of house-holds in the eurozone, Croatia, Hungary and Poland, such as: the social type of the household,gender of the reference person (RP), their age, level of education, marital status, taking intoaccount the differences in the value of these households’ financial assets. For this purpose, weused data from the Household Finance and Consumption Survey. The logit model was used toanalyse with maximum likelihood estimation the different saving motives and country groups.We also used a Poisson model for a count variable. The results demonstrate that the socialtype of households is crucial in determining their motives for saving, particularly for childeducation and leaving an inheritance. Additionally, we identify differences in the number andsets of saving motives between households from countries with both high and low levels offinancial assets. In countries where households are less well-off, the motive for saving to pur-chase residential estate is of greater importance. Moreover, households with more financialassets – mainly from the countries of Western Europe – show more concern about saving forold age and investment.

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