Emergency funds in Australian households: An empirical analysis of capacity and sources
Author(s)
Worthington, AC
Griffith University Author(s)
Year published
2004
Metadata
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This paper examines demographic and socioeconomic characteristics as predictors of emergency fund adequacy in Australian households. The results indicate that the presence of children, the number of dependents and income-earning units, the age and ethnicity of the household head, income dependency upon retirement plans and investments and government pensions and benefits, homeownership and disposable income are significant determinants of the capacity to raise emergency funds. They are also important predictors of the likely source of emergency funds. However, they are generally better at predicting mainstay sources of funds ...
View more >This paper examines demographic and socioeconomic characteristics as predictors of emergency fund adequacy in Australian households. The results indicate that the presence of children, the number of dependents and income-earning units, the age and ethnicity of the household head, income dependency upon retirement plans and investments and government pensions and benefits, homeownership and disposable income are significant determinants of the capacity to raise emergency funds. They are also important predictors of the likely source of emergency funds. However, they are generally better at predicting mainstay sources of funds such as own savings and loans from deposit-taking institutions and credit card usage than loans from family or friends.
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View more >This paper examines demographic and socioeconomic characteristics as predictors of emergency fund adequacy in Australian households. The results indicate that the presence of children, the number of dependents and income-earning units, the age and ethnicity of the household head, income dependency upon retirement plans and investments and government pensions and benefits, homeownership and disposable income are significant determinants of the capacity to raise emergency funds. They are also important predictors of the likely source of emergency funds. However, they are generally better at predicting mainstay sources of funds such as own savings and loans from deposit-taking institutions and credit card usage than loans from family or friends.
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Journal Title
Financial Counseling and Planning
Volume
15
Issue
1
Publisher URI
Subject
Accounting, auditing and accountability
Banking, finance and investment