“A STUDY ON SAVINGS AND SPENDING HABITS AMONG EMPLOYED YOUTH WITH SPECIAL REFERENCE TO KOTTAYAM DISTRICT

Abstract

A person’s ability to manage his money is essential to being successful in life.  Effective financial management strategies are important for all members of society. The transaction from childhood to adulthood can be a tough time for young people.  Young people face the challenges and up the level of leaving their parental home moving into the world of work and beginning to build a family.  But for the young people today the challenge for them is even more difficult because they must do all of this in the midst of a struggling economy.  The increased pocket allowances and employment opportunities to earn and spend make the youth of this Country as one of the most important forces in spending. The research has proved that employed youth’s financial management capability is pivotal to their overall success and retention.  Hence this research paper aims to analyze the spending and saving habits among the employed youth with special reference to kottayam District.

Key words- Bank deposits, Fixed deposits, Demand deposits, recurring deposits etc…