A Study of Financial Planning Knowledge Affecting Generation Y’s Financial Planning Behaviors and Retirement Planning in Songkhla
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Abstract
This study aimed to study whether people of generation Y in Songkhla acknowledged personal financial planning, and whether it affects their personal financial planning behaviors, as well as retirement savings. This study utilized a survey research method, and the data was collected from 400 generation Y people. The method of data analysis were descriptive statistics including frequency and mean as well as multiple regression analysis the significant level of 0.05.
The results showed that most respondents were single, undergraduate females between ages of 33-37 who are majorly employees in private sector with income of less or equal 20,000 baht per month. The findings indicated that generation Y people in Songkhla who knowledge of consumption planning had well would have well-behavior of investment, consumption, and insurance managing. If they had fine knowledge of tax managing, they would have favorable retirement yet inferior consumption planning. Moreover, they would be a well-tax-planner if they had investment managing. While good knowledge of retirement planning would establish good behavior of tax and investment planning. In addition, heritage planning knowledge gives wised retirement planning. On the other hand, knowledge of personal financial planning was insignificant to retirement saving.
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