Analysis of Factors affecting Savings for Aging Society of Generation Y Consumers in Chiang Mai Province

Abstract

This study aimed to study on factors affecting the decision to save for aging society of Generation Y Consumers in Chiang Mai province. The questionnaires were used to collect data from 400 of generation Y consumers in Mueang Chiang Mai district. The results revealed that sample group had a high level of knowledge and understanding about saving money for aging society. The average score was 5.99 from 10.  The opinions about saving money for the elderly society at the agree level, with an average score of 3.90 from a full score of 5. As for behavior, it was found that 85.8% of Generation Y consumers in Mueang Chiang Mai District had savings, but only 56.0 percent of all respondents had savings for aging society.

Using the Logistic Regression Ananlysis with the Logit Model, it was found that the factors related to saving behavior for the aging society were knowledge and understanding about saving money for the elderly society, positive opinions about savings, and income.