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Measures Of Saving Decision Among Young Professionals: A Factor Analysis

	International Journal of Scientific Research and Engineering Development (IJSRED)	Full Text:
	Published Issue : Volume-3 Issue-6
	Year of Publication : 2020
	Unique Identification Number : IJSRED-V3I6P22
	Authors : Ma. Althea O. Andrada
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Abstract :

This paper aimed to explore the factors affecting the saving decisions of young professionals in Davao City. The study utilized a descriptive-exploratory research design involving 400 randomly selected young professionals in Davao City. A validated, researcher-made survey instrument comprising all possible factors or variables from various literature and related studies as well as interviews with key informants on the topic was used in the study. Employing the exploratory factor and thematic analysis, eight extracted constructs with 37 factors passed the ≥0.50 threshold for statistical significance after four rotations and iterations, thus making them measures of saving decisions. These measures are competence in money management, resilience to risk, financial strain exposure, wealth-driven mindset, saving orientation, fear of uncertainty, attitude to save, and fiscal adequacy.