Assessing the Outcome of Demographic Variables on the Saving Determinants and Saving Behaviour of the Individuals of Ludhiana

Purpose: The major purpose of the study relates to assessing the impact of different demographic factors on the saving determinants and saving behaviour of the individuals of Ludhiana. Therefore, in this study saving determinants and behaviour were considered as dependent variable and the demographic variables as independent variable. Design, Methodology & Approach: The data was collected from 100 respondents which comprised of individuals representing different heterogeneities of Ludhiana. The tools of Factor Analysis, Independent T-test and One Way ANOVA were applied to study the impact of five demographic variables on the saving determinants and behaviour on the individuals of Ludhiana. Findings: The studies revealed that certain factors of saving behaviour had an insignificant relationship with the demographic factors while virtuous considerations and financial considerations resonated a significant impact with certain demographic factors. Research Limitations: The major limitation of the study was that the sample was relatively of a smaller size. Had it been of a larger size, the results would have been an accurate one. Originality/Value: This paper was a first in its kind to study the saving behaviour of the Individuals of Ludhiana on the basis of their demographic factors