FACTORS INFLUENCING SAVING BEHAVIOR OF YOUTH INSIDE KATHMANDU VALLEY

Abstract

This study examined elements that influence youth saving behavior, with financial literacy, parental socialization, peer influence, and self-control serving as independent variables. The study used descriptive and causal research design and data was collected quantitatively from a wide demographic sample to examine the link between these characteristics and saving behavior. The reliability study revealed strong internal consistency among the variables, with an overall Cronbach Alpha of 0.946, demonstrating robustness in the measurements used. The data show strong positive connections between financial literacy, peer influence, self-control, and saving behavior, implying that these elements play an important role in encouraging financial responsibility among young people. The regression model also shown significant predictive power, with a R Square of 0.946, indicating that the model accounts for 94.6% of the variance in saving behavior. This study adds to the area by showing the role of financial education, societal influences, and personal discipline in developing youth financial practices. The findings have practical significance for policymakers, educators, and financial institutions working to promote effective saving habits among young people through tailored financial literacy programs and support networks.