1.1.3 Savings and the life course
Households are motivated to save at different stages of the life course, such as those depicted in Figure 4: weddings, holidays and motoring.
Households are often targeted by the marketing departments of financial institutions according to their stage in the life course and the type of household. These are significant factors in the selling of different types of saving and investment products.
Activity 1.1 Your reasons for saving
Think about the following questions and note down your answers.
- What are your reasons for saving money?
- Are your reasons for saving the same as any of those given in the image above?
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