Differences in Household Saving Between non-Hispanic White and Hispanic Households

This study uses the 2007 Survey of Consumer Finances to empirically explore differences in saving behavior between Hispanic (N = 533) and non-Hispanic White (N = 2,473) households. The results of the logistic regression model show that self-employed Hispanics were more likely to save, while self-employment was not significant for Whites. Being unbanked is the only variable that had a significantly negative relationship with saving for both groups. The results indicate that the model of saving applied to U.S. households may not be appropriate in studies focusing on the saving behaviors of Hispanics. In the empirical model estimated in the current article, only age, being unbanked, and self-employment have significant relationships with the saving behaviors of Hispanics, while many variables were significant for White households.