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Emergency Funds in Australian Households: An Empirical Analysis of Capacity and Sources

Worthington, Andrew C. (2004) Emergency Funds in Australian Households: An Empirical Analysis of Capacity and Sources. Financial Counseling and Planning, 15(1), pp. 21-30.

Abstract

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.

Impact and interest:

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ID Code: 2322
Item Type: Journal Article
Additional URLs:
Keywords: Emergency funds, Financial planning, Financial wellness, Household Expenditure Survey
ISSN: 1052-3073
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BANKING FINANCE AND INVESTMENT (150200) > Banking Finance and Investment not elsewhere classified (150299)
Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > ECONOMETRICS (140300) > Cross-Sectional Analysis (140301)
Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200) > Applied Economics not elsewhere classified (140299)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Copyright 2004 AFCPE
Copyright Statement: The contents of this journal can be freely accessed online via the journal’s web page (see link).
Deposited On: 31 Oct 2005
Last Modified: 05 Jan 2011 23:25

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