Saving Mentality Among Students

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1 INTRODUCTION
1.1 ORIGIN OF THE REPORT:
One of the biggest steps toward leading an independent life is financial independence. This means taking control of our money - both the money that we save and the money that we spend. Money is necessary to live and also to live well in our society, but we don't need a lot of money to be independent, successful, and happy. Indeed, we do need to know how to manage the money we have and make it work. Now-a-days undergraduate students do not just live for the moment. But, in order to take pleasure of the golden opportunities, students from all walks of life are thinking in advance of fresh ways to save money for the upcoming days to come. Therefore, in times of financial crises they do not have to embarrass themselves by extending their empty hands in front of others. Some very true, catchy as well as eye-opening stories reflect the aftermath of such practices of storing money for the good days to enjoy. For instance, an ordinary student turned into a faculty of a renowned private university claims to have purchased a brand new laptop which was quite expensive at that time with his own savings when he was a graduate. Another faculty of the same university takes pride in sharing his part of interesting story of how being in just tenth grade was successful in acquiring a stunning bicycle with the money he saved for quite a period. Such motivational incidents preaches us the ways which bound us to re-think that no matter how little we save, be it daily, weekly, monthly or perhaps yearly, saving for the best is the sole path in our students harsh life when we can quench our thirst for never ending desires and needs in times of cruel hardships also.

1.2 OBJECTIVES OF THE STUDY:
* To study undergraduate students’ savings mentality.
* To observe whether students are actually good at savings. * To understand gender differences when it comes to financial independence. * To study the intentions of the students behind saving purposes. * To know the students future plans to save.

* To find out the sources of students savings.

1.3 PROBLEM STATEMENT:
AN ANALYSIS OF STUDENTS’ SAVINGS MENTALITY…..
UNDERGRADUATE STUDENTS.

1.4 SCOPE AND LIMITATIONS:
* Lack of sufficient time to complete the research.
* Inaccuracy of data might take place due to representative sample of the whole population. * Sampling errors are likely to occur.
* Data gathered from specific undergraduates only as it is not possible to conduct survey on all public and private universities. * Budget constraints to carry the research smoothly.
* Students are reluctant to reveal the authentic data.

1.5 METHODOLOGY:
* Data collection consisted of surveys, observations and interviews. * Respondents were asked questions based on the particular questionnaire. * A qualitative evaluation was utilized for this research project for subjective methods such as interviews and observations to collect relevant data. * Quantitative method was used for calculation of values/scores. * Data was analyzed based on results.

* Representative sample of 173 was collected and the sample was generalized on the whole population. * Finally, data was also statistically analyzed for interpretations in Microsoft Excel.

2 REPORT FINDINGS AND ANALYSIS: Question#1| | |
 | Male| Female|
Strongly Agree| 34%| 26%|
Neutral| 5%| 1%|
Strongly Disagree| 3%| 3%|

Interpretation:
From the survey conducted, it can be observed that 34% male and 26% female students are good at saving money. As a result, it can be said that males are wiser than the females in spending money. Boys think that they have more needs and demands than the...
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