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Relationship Between Savings Determinants and Savings Behaviour Among Households in Tamil Nadu and Puducherry

Journal of Commerce and Accounting Research

Volume 8 Issue 4

Published: 2019
Author(s) Name: Gangan Aranjan Pandu, Sankar R. | Author(s) Affiliation: Assist. Prof. of Commerce & Principal Investigator – UGCs Major Research Project, Pondicherry Univ.
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Abstract

Main purpose of this study is to identify the relationship between the predictors of the investment activities with that of the savings behaviour and also to find out the most influencing construct of the savings behaviour among the households. For this purpose, the data has been collected from 125 households in Tamil Nadu and Puducherry through convenience sampling technique. Financial knowledge, ancestral socialization, fellow citizen socialization, peer inspiration, self-determination, will power and motivation of savings are the predicting constructs of such savings behaviour. Pearson correlation and multiple regression analysis are the statistical tools used for the study. Study found a significant relationship among all the predictors with that of the savings behaviour except the motivation of savings construct and the ancestral socialization is the most inducing factor of the savings behaviour of the households. Suggestions such as investments in diverse investment avenues to meet the different commitments accordingly have been provided.

Keywords: Financial Knowledge, Socialization, Determination, Peer Inspiration, Savings Motivation, Savings Behaviour

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