ACCESS TO CREDIT AND SAVING BEHAVIOUR OF GENERATION Y STUDENTS. ARE WE EDUCATING AN OVER-INDEBTED GENERATION?

H.A. Koloba

Article Details

ACCESS TO CREDIT AND SAVING BEHAVIOUR OF GENERATION Y STUDENTS. ARE WE EDUCATING AN OVER-INDEBTED GENERATION?

Authors:

H.A. Koloba

Publisher:

Sosyal Bilimler Araştırmaları Derneği

Journal:

International Journal of Economics and Finance Studies 2018 Vol.10 Issue 1, pp.50-65

Document Type:

Article

Publication Date:

12/2017

Document Language:

Turkish

Document ID (Org No.):

2000810790

Frequency:

Bi-Annual

eISSN:

1309-8055

Abstract:

 

Credit is deemed central to the economy of a country. However, it becomes a
 problem when people find it difficult to meet their financial obligations and end
 up becoming over-indebted. Previous research in consumer behaviour among
 South Africans has revealed that households are over-indebted. Coupled with this,
 South Africa is known as a consuming nation with a poor savings culture. The
 review of literature reveal that university students are not spared since companies
 are targeting them with credit products in an effort to increase their market share.
 The purpose of this study was to investigate the influence of access to credit on
 the savings behaviour of Generation Y students. The study adopted a quantitative
 research approach. Data were analysed from a total of 145 Generation Y students
 who had fully completed the questionnaire. Exploratory factor analysis was used
 to establish whether the data were factorable. Correlation analysis was used to
 investigate the relationship between access to credit and savings behaviour of
 Generation Y Students. Single regression analysis was used to investigate whether
 access to credit influences savings behaviour of Generation Y students. The
 results show that access to credit has positively influenced the saving behaviour of
 Generation Y students. Based on this, if access to credit is not managed well,
 Generation Y students and young people in general will find themselves overindebted.
 A culture of saving among this cohort should be encouraged. It is
 therefore recommended that Universities should introduce financial literacy
 programmes for students across different fields of study. Furthermore,
 government should institute stringent measures to punish non-compliance with the
 National Credit Act by credit providers.

Article Details

ACCESS TO CREDIT AND SAVING BEHAVIOUR OF GENERATION Y STUDENTS. ARE WE EDUCATING AN OVER-INDEBTED GENERATION?

Authors: H.A. Koloba

Publisher: Sosyal Bilimler Araştırmaları Derneği

Journal: International Journal of Economics and Finance Studies 2018 Vol.10 Issue 1, pp.50-65

Document Type: Article

Publication Date: 12/2017

Document Language: Turkish

Document ID (Org No.): 2000810790

Frequency: Bi-Annual

eISSN: 1309-8055

Issues

Authors:

H.A. Koloba

Publisher:

Sosyal Bilimler Araştırmaları Derneği

Journal:

International Journal of Economics and Finance Studies 2018 Vol.10 Issue 1, pp.50-65

Document Type:

Article

Publication Date:

12/2017

Document Language:

Turkish

Document ID (Org No.):

2000810790

Frequency:

Bi-Annual

eISSN:

1309-8055