Date of Defense


Date of Graduation



Finance and Commercial Law

First Advisor

Judith L. Swisher

Second Advisor

Jofen Han, Business Information Systems


personal savings


Over the past decade personal savings in America has been much lower than in the past. The question is why household savings is so much lower and what factors are contributing to the decline. To answer this question, I look at data collected from the Bureau of Labor Statistics (BLS). The BLS has conducted a survey of consumer expenditures, or buying habits, since 1984. By using the BLS 2010 Consumer Expenditure Data, I can look at how different factors, such as income, age, family size and number of kids under the age of eighteen all effect household savings. Using the data from the BLS, running a correlation shows what type of relation each individual variable has with savings. Running multiple regression models explain how the different variables affect savings after controlling for other variables. It also show which model best describes savings. The results of the regression analysis show that savings is positively related to income, has a nonlinear relationship with age, is negatively related to family size and negatively related to the number of kids less than eighteen. The results that were found between savings and income are consistent with Bunting (1991). This consistency in results suggests that the current relationship will continue in future decades.

Access Setting

Honors Thesis-Open Access