Managing my money
Managing my money

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Managing my money

5.1.2 Savings and the life course

In the table are the various stages of the life course and the motives for savings. Take a look at these points in the life course and then at the motives for saving.

Table 1 Are your reasons for saving the same as any of these?

Life course stage Motives for saving
Young, single Car, house
Young couple, no children House
Couple with dependent children Saving for children's future, retirement
Single with dependent children Saving for children's future, retirement
Older couple with nearly independent children Savings for childrens future, retirement
Older, single, no children Retirement
Older couple with independent children Retirement
Couple, retired Use savings for income, bequests
Single, retired Use savings for income, bequests

Households are often targeted by the marketing departments of financial institutions according to their stage in the life course and their type of household. These are significant factors in the selling of different types of saving and investment products.

What are your reasons for saving money?

Figure 2 Savings behaviour and life events
MMM_1

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