How financial self-efficacy and financial attitudes affect saving behavior among Sacco members: an empirical study in Kericho County
Date
2021
Authors
Chepngetich, Michelle
Journal Title
Journal ISSN
Volume Title
Publisher
Strathmore University
Abstract
This paper seeks to examine the impact of financial attitudes and financial self-efficacy on saving
behavior. It investigates how financial attitudes affect the saving behavior, the relationship
between financial self-efficacy and saving behavior of Sacco members in Kericho county, and the
moderating effect of financial self-efficacy on the relationship between financial attitudes and
saving behavior according to Sacco members. The study was conducted in Kericho county in
November and December 2020, with a focus on Imarisha Sacco and Ndege Chai Sacco. The data
was collected by issuing questionnaires. Ordinal logistic regression was employed to derive the
.I results. The findings from the study are as follows: financial attitudes and financial self-efficacy
have a positive significant impact on saving behavior among Sacco members in Kericho county
and financial self-efficacy has a positive significant moderating effect on the relationship between fmancial attitudes and saving behavior. The results showed that 7.64% of saving behavior is
explained by fmancial attitudes and 12.90% is explained by financial self-efficacy. The findings
justifY the relevance of financial attitude and financial self-efficacy in the explication of saving
behavior as it opens further discussions on the intricacies of financial behavior which helps
individuals check their financial management effectively and intellectually.
Description
A research project submitted in partial fultillment for the award ofBachelor of Business
Science Financial Economics