A STUDY ON YOUNG PEOPLE’S SAVING BEHAVIOR, INVESTMENT AWARENESS AND PREFERRED INVESTMENT AVENUES IN PALAKKAD DISTRICT
A STUDY ON YOUNG PEOPLE’S SAVING BEHAVIOR, INVESTMENT AWARENESS AND PREFERRED INVESTMENT AVENUES IN PALAKKAD DISTRICT
Authors:
- Rithanya M1, Student 2nd MBA, Nehru Institute of Technology, Coimbatore, Tamil Nadu, India. E-mail:rithanyamanikandan2003@gmail.com
Ph No : 9656769853
- Dr S Naganandhini2, Associate Professor and Dean Placement, Nehru Institute of Technology, Coimbatore, Tamil Nadu, Ph No: 9626163340
ABSTRACT
This study looks at how young people in Palakkad district save and invest their money. It also checks if they know enough about investing and what kinds of investments they prefer. In today’s financial world it’s crucial to understand how young people manage their finances. This helps promote financial planning and economic stability. The study aims to see how factors like income and knowledge affect saving and investment decisions. It uses data from 130 respondents who answered a questionnaire. Statistical tools like percentage analysis, chi-square test correlation analysis and one-way ANOVA are used to analyze the data. The findings show that income level significantly impacts saving behavior. Financial literacy also positively affects investment awareness and decisions. However these relationships are not very strong indicating behavioral factors at play. Young people prefer risk and traditional investments due to risk aversion and limited financial knowledge. Despite knowing about investment options they don’t participate much. The study concludes that improving literacy and providing investment guidance are critical for better financial behavior and informed investment decisions among youth.
KEYWORDS
Saving Behavior, Investment Awareness, Financial Literacy, Young Investors, Investment Preferences, Risk Tolerance