Factors and Conditions Influencing Saving Behaviors of College Students: A Case Study of Suan Dusit Rajabhat University

Abstract

     This research was conducted during the recession period of Thailand's economy in the first quarter of 2010. A survey and follow up with in-depth and focus-group interviews were employed to explore factors and conditions that influenced the saving behavior of college students. A purposive sample was selected from Suan Dusit Rajabhat University. It was found that the factors and conditions influencing the saving awareness of the sampled college students were: 1) the family economic situation reflecting the microeconomic situation, 2) the macroeconomic recession reflecting future employment uncertainty for the students, and 3) future money capital demanded from present savings with negative attitudes toward indebtedness. It was further found that the factors and conditions influencing the real savings of the students were: 1) saving awareness and positive attitudes toward savings, 2) adequate level of personal income to support saving latency, 3) sufficient and regular amounts of money transferred from the student's family to create financial management competency for the student, and 4) self financial management skills and experiences. In addition, financial knowledge is important for college students to maintain and increase their level of saving in the long run.