Associate Professor, Anna University, Chennai, India
Online published on 2 July, 2016.
Over the years, numerous researchers have studied on the determinants of personal saving behaviour among the households and employees rather than young adults such as students and adults. Despite there are few studies focus on the financial behaviour of university students, most of the studies were not drove by theory and merely focused on single factors. Therefore, this research is aims to find the factors that influence the savings behavior of the Gen Y.
The analysis is mainly based on the primary data and the researcher has taken a sample size of 300 and has used the convenience sampling method to select the samples from the total population. The statistical tools like Factor Analysis, ANOVA were made use of for the analytical purpose.
The study gives the opinion of youngster who are in university and fresher to the business world. It has been commonly noticed with the fall of saving behavior among the certain generation known as Gen y. Certain factors were analyzed through the research that influence the saving behavior of gen y. the identified factors are:
Self control
Parental socialization
Peer influence
Financial literacy
Practical thinking
Savings behavior, Gen Y, Factors
