The perceived influence of demographics on the saving behaviour of employed individuals in Eswatini

Abstract

In Eswatini, low personal saving rates among the employed population pose challenges to both individual financial security and national economic growth. This study aimed to examine how demographic characteristics shape the saving behaviour of employed individuals in Eswatini. Eswatini presents a unique socio-cultural and economic context that may influence financial decision-making in ways that differ from other settings. A quantitative cross-sectional survey design was employed, collecting primary data on demographic factors and saving habits from 307 randomly selected employed participants using a simple random sampling technique. Data were analysed using descriptive statistics, Chi-Square, and logistic regression to identify significant relationships across five dimensions of saving: whether individuals saved, their saving frequency, and their saving rate. The findings indicated that 88% of participants reported having saved. A significant association was observed between gender and saving behaviour, with males being more likely to save compared to females. Regarding saving frequency, participants with postgraduate education and landowners were significantly more likely to save regularly, while part-time employees showed lower saving frequency. Gross income and land ownership were also significantly associated with saving rate, with higher income earners and landowners saving a greater proportion of their income. Age and marital status did not demonstrate statistically significant influences on overall saving behaviour, frequency, or rate in this study. This study contributes to understanding saving behaviour in Eswatini by identifying key demographic factors that influence financial decision-making. The findings offer valuable practical insights for policymakers, financial institutions, and employers to tailor financial education initiatives and design targeted savings programs for specific demographic groups, thereby enhancing financial security among employed individuals in Eswatin