Title :  Assessing the Effect of Financial Literacy on Saving Behaviour of Staff:  A Case of Co-operative University, Thanlyin

Keywords : Financial Literacy, Saving behaviour, Socio-demographic variables

Authors : NAY MIN AYE

Publication date : 2018-12-01

Description : Financial literacy of individuals is important ingredients for economic development of the country through their informed financial decisions like savings which can trigger the investments for the corporations. The main objective of the study was to assess the effect of financial literacy on saving behaviour among staff in Thanlyin Co-operative University (TCU). The study found that the TCU staff have high level of financial literacy and positive saving behaviour according to the composite mean value. On the aspect of correlation between the variables, the study found that there is a significant positive relationship between financial literacy and individual saving behaviour among TCU staff. The estimated coefficient indicates that financial literacy has a positive impact on increasing the saving behaviour of the staff while socio-demographic factors like gender, age, marital status, and monthly income cannot predict the saving behaviour of the TCU staff. Accordingly, the university policy makers should consider the interventions to enhance the financial literacy of the staff to make the contribution to the individual saving level and the whole economy of the country. Also, the finding addresses the financial literacy training programmes on individual saving for employees in the universities.