Monday, December 1, 2014

Spending Habits of Religious Households

See this article from the Economist.  The author reports:
Households "with a strong commitment to faith"— demonstrated by higher spending on religious activities—are less likely to be weighed down by excessive mortgage outgoings or loan payments for cars. Compared with other households, they are more likely to be home owners but their property tax burden tends to be less—suggesting that "some moderation in [the] selection of home in terms of extravagance or location...."
Devout households seem keener on mitigating risk and therefore spend more on life insurance and health insurance; they lay out less on alcohol and tobacco and more on domestic appliances, including cooking utensils...
But religious families do allow themselves some earthly pleasures. Indeed, they are if anything a little more likely than other households to spend spare money on clothing or jewellery, although the amount each household splurges on jewellery is a bit less...
The picture that emerges is one of religious types engaging in sensible, but not self-denying, behaviour.