The $3,000 “Secret” Behind Better Saving Habits (Even When Big Bills Are Coming)
A 2025 study found that households with a “financial safety net” are more likely to demonstrate a saving habit (spending less than income), and that long-term savings goals help explain part of that relationship. In the research, a “safety net” is defined very specifically as being able to access $3,000 or more in emergency support from friends or relatives who don’t live with you, and “saving habit” is based on whether spending was less than income over the past year. For client conversations, the practical point is simple: when someone feels they have a backstop, saving behavior becomes more achievable, and when that backstop is paired with a clear long-term goal (retirement, home purchase, education, etc.), the saving habit is even more likely to stick.
One of the most useful findings for planning conversations is what didn’t change the outcome: the presence of major foreseeable expenses in the next 5–10 years (such as education, a home purchase, health care costs, or supporting family) did not significantly alter the positive link between long-term goals and saving habits. Said in client-friendly terms: big upcoming expenses aren’t a reason to delay goal-setting, as goal-setting still helps even when life is expensive. This supports an advisor message that emphasizes stabilizing the client’s sense of financial security (their safety net) and then anchoring saving behavior to a clear long-term goal, instead of waiting for a “perfect” year with fewer expenses.
Sources: Ouyang C, Joseph M, Zhang Y, Naveed K. The Interplay of Financial Safety Nets, Long-Term Goals, and Saving Habits: A Moderated Mediation Study. International Journal of Financial Studies. 2025; 13(1):47. https://doi.org/10.3390/ijfs13010047
