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P. Anioła-Mikołajczak, Z. Gołaś

The main goal of the study was an analy sis of the socioeconomic conditions of house-holds in Poland, such as the propensity to save and saving ratę. The propensity to save in this study is understood as the percentage of households with savings. On the other hand, the saving ratę was designated on tlie basis of the relation between the savings value and income gained by the household.

THE SOCIOECONOMIC CONDITIONS OF SAVING BEHAVIOURS

The factor which unąuestionably significantly detenuines the saving beliaviours of households is their income. The income level detenuines the veiy fact of having savings. thus affecting the propensity to save. An increase in income causes a decreased consump-tion tendency in favour of increased propensity to save [Schmidt-Hebbel 1992, Wójcik 2007], The positive influence of increased income on saving behaviours. measured with different methods, was proved by a wide rangę of other studies [Beer et al. 2006, Rósz-kiewicz 2008. Liberda, 1999, 2000, Fatuła 2010],

Another factor affecting saving behaviours, which was already exposed in the life cy-cle hypothesis, is age. The life cycle hypothesis assumes a negative saving ratę in youth, followed by an increase in savings with age and its positive level during the working age. The peak of savings gathered to satisfy one‘s needs in old age can be seen betw een the age of 60 and 65 years. In old age the gathered savings enable the owner to retain the ąuality of life despite lower income. This hypothesis has freąuently been verified by numerous researchers. Avery and Kennickell [1991] found evidence to ąuestion the life cycle hypothesis. In the USA elderly people"s households do not use the savings gathered during the working age to the extent assumed by the life cycle hypothesis. De men and Duck [2006] did not positively verify the life cycle hypothesis. either. When they analy sed the financial behaviours of British households. they also observed tliat the saving ratę was positive and it grew in old age.

On the other hand. when Rószkiewicz [2006] analysed the financial behaviours of Polish households. she also found regularities related with the life cycle hypothesis. She proved the Iow saving ratę at early stages of the family life cycle was caused by the negative attitude to saving. When Beer et al. [2006] analysed the financial behaviours of Austrian households, they obsen ed the dependence between the age of the head of the household and the level of financial assets gathered in the household, which followed the life cycle hypothesis. Young people s households (aged 19-29 years) had net financial assets of the lowest value. The value of richness increased with age to reach its peak in the households where the household head was aged 60-69 years.

Differences between the sexes in their saving behaviours were widely researched by Fisher [2010], who observed tliat it is important to understand differences between men s and womems saving beliaviours. Womems lower eamings, lower wealth level. higher aver-sion to risk. longer life and lower saving ratę than men‘s is a significant challenge both to financial specialists and educators. Also. in Poland researchers noticed that the saving ratę was one tliird low er in the households headed by a woman [Liberda 2000], Besides, studies show tliat differences betw een men s and womems saving behaviours result from the differ-ences in the level of their financial awareness [Lusardi and Mitchell 2007],

Acta Sci. Pol.

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