The impact of accessibility of mobile loan applications on the level of savings among Strathmore university students.
Kimaku, Martha Wanjiru
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This study looks into the impact of accessibility of mobile loan applications on the level of savings among Strathmore University students. The continuous borrowing culture introduced by mobile loan applications is discussed as being a key factor that inhibits saving efforts ofthe youth. The life cyc le hypothesis model coupled with the technology adoption model wilt give this study an insight into the saving and borrowing culture of the youth. How then does endless borrowing prevent the youth fi·om creating good saving habits? With regards to borrowing and saving amongst individuals differ as a result of behavior, knowledge and mindset. The study therefore intends to investigate how number of mobile loan apps on each Strathmore University student's phone influences the level or savings, how the existence of knowledge about the mobile loan applications influences the level or savings among Stratlunore University student and how the level of usage of mobile loan applications impacts the level of savings among Strathmore University students. A descriptive study design was used whereas the estimated sample size was 384 students but only 100 respondents took part in the survey. The study employed a voluntary sampling method by use of online survey which was clone by the Strathmore University students order to investigate the factors that correlate students' saving and borrowing patterns using mobile applications. A multiple linear regression model was applied using the STAT A software to execute the analysis. Results revealed that there was a very weak correlation between quantity, knowledge and fi-equency of access fi·om mobile loan applications and the level of savings among Stratlunore University students. In addition, the more a student wns equipped with the knowledge of loan apps decreased a chance for them to save.