Document Type
Thesis
First Faculty Advisor
William Zywiak
Second Faculty Advisor
A. Can Inci
Keywords
spending; savings; savings rates; credit; budgeting; education; health; gender
Publisher
Bryant University
Rights Management
CC - BY - NC - ND; CC - BY; CC - BY - SA; CC - BY - ND; CC - BY - NC - SA; CC - BY - NC
Abstract
Many young Americans are concerned whether they will have sufficient savings as they age. This paper will explore the factors that influence the spending habits of young Americans and how those patterns correlate to lifetime savings. There is a plethora of psychological and sociological factors that contribute to different patterns of spending which ultimately affect long-term savings. Savings rates have dropped significantly over the past few decades, and this decline is leaving many Americans without sufficient wealth for retirement. Data that will be collected will be used to run a regression model, ultimately to conclude what the most important factors are to determine a person’s wealth down the road.
Comments
This research investigates fallings savings rates over time and how different groups can combat this decline.