Title: Phenomenology of willingness to save: a study of Thai salaried individuals

Authors: I.M. Pandey; Preecha Swasdpeera

Addresses: Department of Financial Studies, Faculty of Commerce and Business, University of Delhi South Campus, Benito Jaurez Road, New Delhi 110021, India. ' International Association of Registered Financial Consultants, 125/151 SoiRamindhra 103/3, Ramindhra Road, Khannayao District, Bangkok 10230, Thailand

Abstract: This study, employing phenomenological methodology, focused on the perspectives of Thai individuals on their savings behaviour. The findings suggested that the thoughts of individuals on their willingness to save are primarily guided by age, marital status and financial dependents, apart from other considerations. Five themes that appeared to dominate individuals' willingness to save were inescapable reality of aging, self-care and family concern, uncertainty of future, need for security and accessibility, and desire for higher living standard and social status. At the cognitive level, these themes represent three theoretical elements of fear, love and desire as the determinants of individuals' willingness for savings.

Keywords: savings behaviour; phenomenology; fear; love; desire; self-care; Thailand; age; aging; family values; families; uncertainty; security; salaried individuals; salaries; wages; phenomenological methodologies; marital status; financial dependents; accessibility; living standards; social status; cognitive levels; theoretical elements.

DOI: 10.1504/JIBED.2012.045381

Journal for International Business and Entrepreneurship Development, 2012 Vol.6 No.1, pp.83 - 99

Published online: 06 Feb 2012 *

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