Examining the Impact of Socioeconomic Factors on Academic Staff Saving Behaviors and Financial Readiness in North Wollo Zone, Amhara, Ethiopia

iIntroduction/i: Saving behaviour is a critical aspect of financial planning, where individuals defer present consumption to enhance their quality of life and meet future needs. The study aims to gain a comprehensive understanding of their financial behaviours, identify the factors that influence their financial decision-making, and compare the financial behaviours among different groups of academic employees. iMethods/i: Employing a quantitative research approach, this study utilizes a structured questionnaire to gather data from academic employees. The questionnaire evaluates variables such as income level, education, job security, and financial goals to examine their impact on saving behaviours and financial readiness. Binary logistic regression analysis is employed to assess the influence of each factor on the dependent variable. iResults/i: The findings indicate that a majority (83.3%) of academic employees have not previously saved, while a minority (16.7%) have managed to accumulate some savings. Statistical analyses, including chi-square tests, demonstrate significant associations between saving habits and variables such as gender, age, marital status, monthly expenses, and housing. The binary logistic regression analysis further highlights the significance of factors such as gender, age, education level, expenses, housing, additional income, and participation in savings groups in shaping employees saving behaviours. iConclusion/i: This study contributes to the understanding of Ethiopian savings practices and personal finance by examining and comparing saving behaviours and financial preparedness across different academic institutions. It provides insights into the factors influencing financial decision-making and proposes strategies for enhancing financial literacy.