DECISION FACTORS THAT INFLUENCE THE SAVINGS BEHAVIOR OF SELECTED STUDENTS OF A LOCAL HEI IN LUCENA CITY

Youth are a powerful force because of their size in the population, purchasing power, high levels of leisure time, and exposure to an abundance of knowledge due to technological advancements. The savings behavior among students is significantly important as they give more financial freedom and opportunities for investment as well as future financial planning. The study focused on the factors that affects the saving behaviors of the College of Business and Accountancy students and describes the background profile in terms of age, gender, source of money and the factors, effects, and solutions to savings behavior of the respondents and the measure that can be taken. The study was conducted in Manuel S. Enverga University Foundation, Lucena City with a total of 75 randomly selected College of Business and Accountancy students as respondents who are between the ages 19-22. The questionnaire which are self-formulated by the researchers with the basis from Review of Related Literature and have been validated by the professor. The study used the descriptive research design as it describes and interprets the factors that influence the savings behavior of the students. The researchers use purposive sampling as a sampling method, this allows researchers to extract a lot of information from their collected data. The analysis of the results revealed the factors, and solutions to savings behavior of the respondents and the measure that can be taken that have provided significant information. The insights of the College of Business and Accountancy students about the factors that affects the savings behavior has complemented the literature gathered from different sources and may serve as an eye opener to the student that gives room for them to improve even further. The researchers used frequency, percentage,rank,t-test, anova to analyze the gathered data from respondents.