Empirical Evidence of Household Saving Objectives: a Demographical Comparison

Abstract

Investment is one o f the foremost priorities for every individual household whether working or retired from the regular service life. Investment o f today would be tomorrow's financial security o f retired life. But the people o f Odisha do seem to be keen on investing for future safety and also have diverse investment objectives. Therefore, the present study makes the first ever attempt to assess household's saving objectives and study the perceptions towards financial products that provide social security. The study is based on primary data that were collected through a survey of 567 using a structured questionnaire from working as well as retired respondents of Odisha state to find out the preferred saving goals. Since the survey covered only Odisha state, findings o f the study cannot be generalized to the population o f the entire country. The result shows, saving objective significantly influences the households to save differently as per their demographic profiles considered in the study.