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International Journal of Management and Business Development

Open Access Peer Review International
Open Access

SAVINGS AND INVESTMENT BEHAVIOUR OF YOUNG ADULTS: EXPLORING THE ROLE OF FINANCIAL LITERACY AND PARENTAL FINANCIAL BEHAVIOUR

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Richard Owusu 1 ,
4 Department of Accounting, University of Ghana Business School, Legon-Accra, Ghana

Abstract

This article investigates the savings and investment behaviour of young adults and explores the influence of financial literacy and parental financial behaviour on their financial decision-making. Utilizing a mixed-methods approach, the study combines quantitative surveys and qualitative interviews to gather comprehensive data from a sample of young adults. The findings highlight the relationship between financial literacy, parental financial behaviour, and savings and investment behaviours. The study underscores the importance of promoting financial literacy among young adults and emphasizes the impact of parental financial role modeling on their financial habits and choices.

Keywords

Savings behaviour, investment behaviour, young adults, financial literacy, parental financial behaviour, financial decision-making

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