A Brief Analysis Of Students’ Savings Behavior Across Different Dimensions

We used survey data from a sample of 205 respondents to analyze the different determinants of individual savings decisions. Results show that having financial knowledge significantly increases savings rates among students. The savings rate of students is also affected by background factors like their annual family income, their main stream of income, etc. The deficiency of financial literacy among the hostelers is also a serious concern. Our findings also show that the main stream of income and the main mode of transaction also play a crucial role in savings decisions.