Discourses of savings

Katona (1975) established the importance of social perception variables in mediating the impact of economic conditions on financial decision making. There has been a tradition of work in economic psychology that has elaborated on this early work. However, clearly the economic and social circumstances for the contemporary consumer are vastly different to those studied by Katona. The present study uses a qualitative analysis of focus group material to investigate lay people's understanding of savings. Interpretation of extracts from the focus groups suggests a complex understanding of the relation between saving and social and economic change. There was a concern with uncertainty, regulation and the moral economy. The findings were interpreted in the light of theories of the risk society.