Research study A study of financial literacy and factors affecting the behavior of saving for retirement in adults. of high school students in Phetchabun Province.

Abstract

The purpose of this research is to study financial skills of high school students in Phetchabun province, and to study saving patterns affecting to saving behavior for adult retirement of high school students in Phetchabun province. This is survey research by quota sampling of 400 samples. Questionnaire is a tool and descriptive statistics, and multiple regression analysis are applied. The result shows that students have medium levels of financial skill, and their saving pattern is cash. The opinion level impacting on saving behavior = 3.40 is in the medium level. The analysis result of T test independent is found that gender affects to the saving behavior for retirement. From the analysis of factor affecting to the study of financial knowledge and saving behavior for retirement, it is found that financial skill affects to saving behavior of students while saving by government bond and cash affects to saving behavior of students. The suggestion to encourage saving and financial planning for retirement of students and teenagers is to educate more financial knowledge, encourage them to build their own financial discipline and this can strengthen the country’s security as well.

Keyword: financial literacy, saving behavior, retirement age