FACTORS INFLUENCING THRIFT AND INVESTMENT PATTERN AMONG THE HOUSEHOLDS
International Journal of Computer Science (IJCS) Published by SK Research Group of Companies (SKRGC)
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Abstract
Money attitude of the people towards money in today’s world is that everybody wants to enjoy the benefits of money because they have earned by hard work and efforts made on it. That’s great but spending all your money is not the smartest thing to do saving of money help people in the long run. There could be the uncertainties of future which resist people to save for future. This study examines the factors influencing thrift and investment patterns among Indian households. A survey of 80 households was conducted. The results indicate that income, education, occupation, and financial literacy are significant factors influencing thrift and investment patterns among Indian households. The study provides insights for policymakers and financial institutions to promote financial inclusion and encourage households to adopt prudent thrift and investment habits.
References
1) (Sathvara, 2020) To identify the preferred investment avenues. To know the awareness level of salaried persons of north Gujarat region, India. The result of the study gives insight to the investors regarding ‘No Pain, No Gain principle.
2) Investors preferred to invest in insurance policies, bank deposit, real estate, mutual funds, metals (gold).
3) Most of the investors are doing savings for children’s education, marriage and other goals of life
4) (Dhawan & Mehta, 2019) Identify the preference of investors for different investment instrument. Gender have a impact on financial literacy and awareness.
5) People prefer safe and liquid investments with tax benefits, higher returns and fewer lock-in-periods.
6) (Singh & Kaur, 2018) To identify the behaviour of individual investors of Mohali vis-à-vis available investment avenues in the Indian financial markets and where do they prefer to invest whether in equity, fixed deposits, post office, insurance policies, bonds, mutual funds etc. This study has led to conclude that most of the investor of Mohali prefer to invest in public sector and that too for the short and medium period which is low at risk. All the residents who have no formal budget are mostly students and are unmarried.
7) Women are less confident than men about their financial futures, about their knowledge.
Keywords
Thrift, Investment Patterns, Households.
