Generational Differences in Savings and Investment Behaviour: A Study of Government Women Employees in Madurai District

Abstract

The present study compares the saving and investment attitude of government working women of the different generations in Madurai District. The study used descriptive and analytical research design and the number of respondents was 50, comprising 17 Generation X and 33 Millennials, who were primary sources of the data, collected through a structured questionnaire. The study focused on how often people saved and their investment preference on traditional and digital investment platforms. Data analysis was done with frequency distribution; cross-tabulation and Chi-square tests were used in SPSS 26.0 software. The results showed that there was no significant relationship between the generation and the use of old investment channels. Likewise, no significant differences were observed in the adoption of Digital financial avenues across generations, except for Millennials who participated comparatively higher in most Digital avenue, with a higher participation count in UPI application. Moreover, there was no significant generational difference in the frequency of saving, monthly saving being the most common type of saving for both generations. There was no significant correlation between generation and savings or investment behaviour, indicating that generation is not the sole factor in determining savings and investment behaviour. Financial capability and individual financial circumstances may be more influential than generation in determining savings and investment behaviour.