The impact of the coronavirus disease 2019 (COVID-19) outbreak on people's savings

Abstract

This research had three objectives: 1) study the level of impact of the Coronavirus 2019 (COVID-19) outbreak on income and mental accounting for people's savings; 2) compare the mental accounting for saving of Thai people classified by personal factors; and 3) study the relationship between the impact of the Coronavirus 2019 (COVID-19) and mental accounting for Thai people. The sample was 400 people of working age in Bangkok. The results showed as following.

1) The impact of the coronavirus 2019 (COVID-19) outbreak on overall income is at a high level, and the mental accounting for savings is moderate.

2) The sampling of different ages had different mental accounting in savings: the younger group was more thoughtful than the older counterpart; and groups of people with different occupations had different mental accounting for savings. The group of government officials/state enterprise employees had lower mental accounting for savings than other groups. As for people of different sexes and incomes, there were no differences in mental accounting for saving.

3) The impact of the Coronavirus 2019 (COVID-19) outbreak on income had the relationship with the mental accounting for savings (r=2.19).