The factors influencing saving habits among students of UiTM Johor / Najwa Nordin

Over the years, there are numerous researcher have conducted research on the determinants of saving behavior among the households and employees rather than youth such as students or teenagers. Even though there are few studies have been done from previous researcher focus on the financial behavior amongst undergraduate students, most of the studies merely focused on single factors only. Therefore, this research intends to investigate factors that influence savings habits among university students. It is concerned on the needs to educate the young adults the fundamental value of supplementing their savings in order to ensure they have sufficient savings during their future retirement. The selected independent variables are financial literacy, parental socialization, peer influence and self-control. In addition, the research aimed to identify whether all the independent variables significance influence on the saving habits among students of UiTM Johor. By using primary data, a set of questionnaire was distributed to the samples comprised 159 final year students from four main courses faculty of Business Management UiTM Johor. Statistical Package for Society Science (SPSS) software version 22 used to process and analyzed the data. Results revealed that financial literacy, parental socialization, peer influence and self-control play a vital role in encouraging students' saving habits. From the result of the study, it was concluded that parental socialization has the most impact influencing saving habits among students of UiTM Johor.