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 stageMotives for saving
Young, singleCar, house
Young couple, no childrenHouse
Couple with dependent childrenSaving for children's future, retirement
Single with dependent childrenSaving for children's future, retirement
Older couple with nearly independent childrenSavings for childrens future, retirement
Older, single, no childrenRetirement
Older couple with independent childrenRetirement
Couple, retiredUse savings for income, bequests
Single, retiredUse 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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