CHAPTER III: METHOD
Sampling Design:
1. Population Definition
The population for this study comprises young adults who are potential or active savers and have varying
levels of financial education. The research focuses on individuals aged 18-32, as they are in a critical phase
of financial decision-making. The population includes students, working professionals, and self-employed
individuals.
2. Sampling Unit
The sampling unit consists of individual young adults who participate in the survey. Each respondent
provides personal insights into their financial education and saving behavior.
3. Sampling Frame
The sampling frame includes individuals who responded to the survey through two primary data collection
methods:
80 participants via Google Forms (online survey)
20 participants via manual questionnaires (offline survey) The study ensures that the sampling frame
covers diverse educational and financial backgrounds to enhance reliability and representation.
4. Sample Size
The total sample size is 100 respondents. This number is considered sufficient for identifying patterns and
trends in financial education’s impact on saving behavior among young adults.
5. Sampling Procedure
A non-probability sampling method is used, specifically judgmental and convenience sampling:
Judgmental Sampling: The participants are selected based on their relevance to the research
objective (young adults with exposure to financial education and saving practices).
Convenience Sampling: The survey is distributed online and manually to ensure accessibility and
ease of response collection.
6. Budgetary Constraints
As the survey is conducted via Google Forms and manual questionnaires, the costs are minimal. The primary
budget considerations include:
Printing and distributing manual questionnaires
Time investment for data collection and analysis
A well-structured sampling design ensures that the study provides reliable insights into the impact of
financial education on young adults' saving behavior.
Source and Method of Data Collection:
I) Sources of Primary Data collection:
The primary data for this research has been collected through a structured questionnaire, administered
via two methods:
1. Online Questionnaire (Google Forms) – A digital survey distributed through Google Forms to
collect responses efficiently from a broader audience.
2. Offline Structured Questionnaire – A manually distributed paper-based survey to gather responses
from individuals who may not have access to online platforms.
The questionnaire includes carefully designed questions to gather information related to financial literacy,
saving behavior, and related aspects.
II) Sources of Secondary data collection:
Secondary data has been sourced primarily from the Review of Literature, which includes
research studies, reports, and findings from various sources related to financial literacy and
saving behavior. The key sources include:
Academic Research Papers and Journals (e.g., studies by Lusardi & Mitchell, Mandell & Klein,
Xiao & Porto, etc.)
Government and Industry-Published Reports (e.g., OECD financial literacy reports, workplace
financial education studies)
Bibliographic Databases containing scholarly articles on financial literacy, behavioural economics,
and saving habits
Full-Text Databases with access to empirical studies on financial decision-making
Online Databases including digital financial tools research and fintech-driven saving behavior
studies
III) Methods of Data Analysis and Statistical Techniques:
This study employs a combination of analytical and statistical techniques to interpret the collected
data effectively. The key methods used include:
1. Tabular Analysis:
Organizing survey responses into structured tables for clarity and ease of comparison.
2. Graphical Analysis:
Utilizing bar graphs and line charts to visually represent financial literacy levels, saving habits, and
financial behaviour’s.
3. Pie Chart Analysis:
Representing the percentage-based interest of young adults in different financial education topics through pie
charts.
4. Comparative Analysis:
Examining saving habits and financial literacy levels across different age groups, education levels, and
employment statuses.
5. Cross-Tabulation:
Analysing the relationship between financial education exposure and saving behavior.
6. Thematic Analysis:
Identifying key themes and patterns in qualitative responses regarding strategies to improve financial literacy
among young adults.