The Savings Behavior of the iGeneration
Journal Title: Religación. Revista de Ciencias Sociales y Humanidades - Year 2019, Vol 4, Issue 17
Abstract
The primary objective of this study was to look at the factors influencing the savings behavior of the iGeneration/Gen Z or post-millennials in Cantilan, Surigao del Sur, Philippines. Factors include financial literacy, parental socialization, peer influence, and self-control. The descriptive survey method was used in the study. A researcher-made questionnaire was used as the main instrument for data collection. Interviews were also conducted to answer clarifications, verify the answers of the respondents, and to solicit additional information. Findings revealed that as to financial literacy, they strongly agree that they know the importance of saving money and they have a better understanding of how to manage their finances or allowance through budgeting. As to how peer influence affects the savings behavior of the iGeneration or post-millennials, they agree that some of their friends regularly do save money in a savings account and they discuss a money management issue, particularly savings. The iGeneration have a sense of responsibility. They have the vision of helping the global economy sustainable through helping create jobs or owning a small business. Among the factors that affect savings behavior, parental socialization is the most influential. The post-millennials see their parents as financial role models. Parental teachings on managing money help increase financial awareness. Clearly, if parents could educate their children on personal finance, children would develop a good savings habit. In the long run, this will enable them to be financially responsible. Thus, making a positive impact on the economic growth and development of our country.
Authors and Affiliations
Jeni Theresa C. Bona
Keywords
Related Articles
- EP ID EP629421
- DOI -
- Views 100
- Downloads 0
Singularidade identitária: entre a morte e a miscigenação. Reflexões sobre o conceito de identidade em Bolívar Echeverría
Este ensaio lança uma crítica ao conceito de identidade em que os estados nacionais latino-americanos modernos foram fundados. A reflexão aqui proposta é articulada a partir da concepção que o filósofo marxista equatoria...
Repensando a antropologia do sul
Mientras se prepara este dossier, el mundo de habla hispana es testigo, de las respuestas que la España de la Conquista, aquella que aun en el siglo XXI tiene reyes, reinas y nobleza, da al pedido que hiciera Manuel Lópe...
Verbal semantics in the context of actantial distribution
This study is based on the theory of methods of verbal action (MVA), presented in the works by O.M. Sokolov. Prefixed Russian verbs are considered as part of a functional approach to language analysis. The authors prove...
Defesa passiva: fornecer um modelo para gerenciamento de infraestrutura crítica
A infra-estrutura crítica do país, em geral, engloba os serviços essenciais e profundos da comunidade. Esses setores formam a espinha dorsal da economia, segurança e sistema de saúde do país. A atividade dessa infraestru...
OTAVALO, el valle y su gente
En el altiplano andino, que corresponde a los países de Ecuador, Perú y Bolivia, 8 de cada 10 habitantes son indígenas han vivido en estos territorios durante muchos siglos. A partir de la colonia se radicalizó un trabaj...