CHAPTER FOUR
DATA ANALYSIS, PRESENTATION AND INTERPRETATION
4.0 Introduction
This chapter presents the results, analysis, and interpretation of the data collected to
examine the effect of financial literacy on individual saving behavior. The data was
obtained through questionnaires distributed to respondents, and analyzed using
descriptive statistics with the help of SPSS (Statistical Package for the Social Sciences).
The results are presented in tables and figures, showing frequencies, percentages, and
cumulative percentages. These provide a clear view of the respondents’ opinions on
various aspects of financial literacy and its influence on saving behavior.
4.1 Demographic Characteristics of the Respondents
4.1.1 Gender of the Respondents
Table 4.1.1 Gender of the Respondents
Response Frequency Percentage
Male 42 70.0%
Female 18 30.0%
Total 60 100.0%
Interpretation: The results indicate that 70% of the respondents were male, while 30%
were female. This shows that the majority of the respondents were male, reflecting a
gender imbalance in the sample.
4.1.2 Marital Status of the Respondents
Table 4.1.2 Marital Status of the Respondents
Response Frequency Percentage
Single 45 75.0%
Married 15 25.0%
Total 60 100.0%
Interpretation: The majority of the respondents (75%) were single, while 25% were
married. This indicates that most of the study participants were unmarried individuals.
4.1.3 Educational Level of the Respondents
Table 4.1.3 Educational Level of the Respondents
Response Frequency Percentage
Secondary 4 6.7%
Diploma 10 16.7%
Bachelor 30 50.0%
Master Degree 14 23.3%
PhD 2 3.3%
Total 60 100.0%
Interpretation: Half of the respondents (50%) held a bachelor's degree, followed by
23.3% with a master's degree, and 16.7% with a diploma. A small number had PhDs or
only secondary education, indicating that most respondents were well-educated.
4.1.4 Experience of the Respondents
Table 4.1.4 Experience of the Respondents
Response Frequency Percentage
Less than 1 year 19 31.7%
1–5 years 30 50.0%
More than 6 years 11 18.3%
Total 60 100.0%
Interpretation: Half of the respondents (50%) had 1–5 years of work experience, while
31.7% had less than one year. Only 18.3% had more than six years of experience. This
suggests that most participants were relatively early in their careers.
4.2 Financial Education
4.2.1 Financial education promotes saving behavior
Response Frequency Percentage
Strongly disagree 5 8.3%
Disagree 6 10.0%
Neutral 9 15.0%
Agree 30 50.0%
Strongly agree 10 16.7%
Total 60 100.0%
Interpretation: Half of the respondents (50%) agreed that financial education promotes
saving behavior, while 16.7% strongly agreed. Only a small proportion disagreed. This
suggests that financial education plays a significant role in influencing individuals’
saving habits.
4.2.2 Education not only affects how much people learn but also how they make use
of their learnings
Response Frequency Percentage
Strongly disagree 9 15.0%
Disagree 5 8.3%
Neutral 7 11.7%
Agree 26 43.3%
Strongly agree 13 21.7%
Total 60 100.0%
Interpretation: A total of 65% of respondents agreed or strongly agreed with the
statement. This indicates that education impacts not only knowledge acquisition but also
how individuals apply that knowledge, which in turn can affect their financial decisions.