Study finds religion, ethnicity can affect saving habits

A study has found religious and ethnicity can have significant influence on whether or not people decide to save their money. The study conducted at Macquarie University in Sydney found religious people and those of Chinese heritage are more likely to save money.

How do religious beliefs and ethnicity affect savings tendencies Source: AAP

Having high income can make it easier to save for obvious reasons but the high earners are not always the big savers. The research has found middle-income earners with a religious background tend to save more....

 

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