The Wealth Emporium  |  Financial Knowledge Centre

Saving motives VS saving habits

Saving motives VS saving habits

When it comes to the saving habits of households, there are often three distinct camps;

  • The regular savers
  • The irregular savers
  • Those that do not save (the non-savers)

Interestingly, there is often a relationship between saving motives and saving habits.

Saving motives can include things such as, for retirement, for children’s needs, to buy a house or consumer durables (e.g. fridges, motor vehicles etc.), for holidays, for emergencies and to have funds in reserve for necessities.


Here are some interesting findings regarding the relationship between saving motives and saving habits:

  • Someone that has a motive around saving for emergencies and/or retirement is more likely to be a saver, whether regular or irregular.
  • Someone with a high income and/or medium to long-term saving horizon is more likely to be a saver, whether regular or irregular.
  • Someone with a low-risk tolerance is more likely to be a non-saver.


Also, if we look at people that save regularly versus irregularly, regular savers have a more positive relationship with a retirement saving motive, a high income and/or a long-term saving horizon.


With that in mind, it’s important to remember that the source of your wealth creation is you. For some of us, saving may be second nature or come

easy due to circumstance, whilst for others, it may be more of a struggle. What is important is to enjoy life now whilst also taking the time to make sure this enjoyment flows through and is experienced by your future-self as well.

By having a clear picture of why you need (or want) to save, as well as the motivation and roadmap to achieve it, you might just find this makes all the difference.


When it comes to saving, it’s important to understand the positive effects associated with saving a portion of your income from employment each payment cycle.

For example, saving can help with:

  • Your capacity to establish and build-upon an emergency buffer (e.g. for unexpected events, such as job loss, medical/dental emergencies, or home/car repairs).
  • Your capacity to work towards your financial goals and objectives (e.g. retirement security, paying down debt or purchasing a home).
  • Your capacity to utilise and rely on your cash/debit cards, as opposed to credit cards, to meet lifestyle expenses.


If you’d like help managing your current savings or creating a savings plan, get in touch with our team of specialists who are more than happy to help!

Phone: 1300 982 499



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