Journal of Family and Economic Issues

, Volume 36, Issue 4, pp 491–502 | Cite as

Self-efficacy and Savings Among Middle and Low Income Households

  • Jean M. LownEmail author
  • Jinhee Kim
  • Michael S. Gutter
  • Anne-Therese Hunt
Original Paper


Based on Social Cognitive Theory, this exploratory study examined the relationship between self-efficacy and saving among a sample of middle and low income households. Logistic regression was used to test the hypothesis that higher levels of self-efficacy are associated with greater likelihood of saving when controlling for age and income levels. The results show that higher self-efficacy, older age, and middle incomes are associated with a higher likelihood of savings. When controlling for age and income, respondents with low self-efficacy were only 60% as likely to save as those with high self-efficacy scores. The results confirm that saving behavior is associated with general self-efficacy. Enhancing self-efficacy for middle and low income individuals may encourage saving. Implications of this research suggest a need for additional research to further explore this relationship and how it might be used to enhance outreach aimed at improving savings behavior.


Self-efficacy Saving Middle and low income 


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Copyright information

© Springer Science+Business Media New York 2014

Authors and Affiliations

  • Jean M. Lown
    • 1
    Email author
  • Jinhee Kim
    • 2
  • Michael S. Gutter
    • 3
  • Anne-Therese Hunt
    • 4
  1. 1.Family, Consumer, & Human Development DepartmentUtah State UniversityLoganUSA
  2. 2.Family Science DepartmentUniversity of MarylandCollege ParkUSA
  3. 3.Department of Family, Youth and Community SciencesUniversity of FloridaGainesvilleUSA
  4. 4.Interim Director of the Utah State University Office of Methodological Data SciencesUtah State UniversityLoganUSA

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