Please enter verification code
Influence of Gender in the Saving Culture of Sacco Members in Nyandarua County, Kenya
Journal of Investment and Management
Volume 4, Issue 1, February 2015, Pages: 14-24
Received: Jul. 7, 2015; Accepted: Jul. 16, 2015; Published: Jul. 25, 2015
Views 5365      Downloads 160
Martin Muriithi, School of Business Studies, University of Nairobi, Nairobi, Kenya
Dennis Muriithi, Department of Business Administration, Chuka University, Chuka, Kenya
Article Tools
Follow on us
Saving is a key component in any development endeavor as it is believed to be the surest way of increasing income and boosting productivity in an attempt to break through the vicious cycle of poverty. A number of studies have demonstrated that the investment and retirement saving behaviors of women and men differ. However, inconsistencies in findings exist in the few studies conducted on the differences in general saving behaviors between men and women. The purpose of this study was to establish gender differences in saving culture with a special bias on SACCO members. Specifically, the study aimed at assessing the influence of income levels on saving culture; evaluate the effect of marital status on saving culture and establish the influence of age on saving culture of SACCO members in Nyandarua County. The research adopted a descriptive survey design and targeted all business and agricultural based SACCO members and officials in Nyandarua County. 18 SACCO officials and 375 SACCO members were sampled using purposive and stratified random sampling respectively. The researcher collected data using structured questionnaires. A descriptive analysis of the data after processing involved computing mean, mode and median with the help of Statistical Package of Social Sciences Software and Microsoft Excel and presented in frequency tables and charts. Marital status of the respondents was found to be statistically significant in terms of the annual saving. The result implies that a change in marital status will affect the annual savings negatively. The researcher is 99.952% confidence that the change in marital status will negatively have an impact on annual saving. The researcher recommends nurturing of marriage institution as a way of protecting saving culture among women and men members of the SACCO in Nyandarua County.
Saving Culture, Gender, Income Levels, Financial Decisions
To cite this article
Martin Muriithi, Dennis Muriithi, Influence of Gender in the Saving Culture of Sacco Members in Nyandarua County, Kenya, Journal of Investment and Management. Vol. 4, No. 1, 2015, pp. 14-24. doi: 10.11648/j.jim.20150401.13
Agnew, J., Szykman, L., Utkus, P., & Young, J. (2007). Literacy, Trust and 401 (K) Savings Behavior, Center for Retirement Research. Retrieved from Savings Behavior.pdf.
Amino, A. et al, (2003). The Potential for Saving in the Rural Mozambican Households, Savings and Development, Quarterly Review, Issue No. 2
Aryeetey, E. (2004). Household Asset Choice among the Rural Poor in Ghana. Paper presented at the 2004 author’s workshop on “Understanding Poverty in Ghana”, Institute of Statistical, Social and Economic Research, University of Ghana and Cornell University.
Blau, Francine D. & Lawrence M. Kahn. (2006). The U.S. gender pay gap in the 1990s: Slowing convergence. Industrial and Labor Relations Review. 60(1): 45-66.
Black, Sandra E. & Elizabeth Brainerd. (2004). The impact of globalization on gender discrimination. Industrial and Labor Relations Review. 57: 540(59).
Browning, M. and Lusardi, A. (1996). Household Saving: Micro Theories and Micro facts, Journal of Economic Literature, 34(4), pp. 1797-1855.
Carpenter, S., & Jensen, R. (2002). Household Participation in Formal and Informal Savings Mechanisms: Evidence from Pakistan, Review of Development Economics, 6(3),
Duesenberry, J. S. (1949). Income, Saving and the Theory of Consumer Behaviour. Cambridge: Harvard University Press.
Fisher, P. (2010). Gender differences in personal saving behaviors. Journal of Financial Counseling and Planning Education, 21'(1), pp. 14-24.
Floro, M. S., & Seguino, S. (2002). Gender Effects on Aggregate Saving. Gender and Development: Working Paper Series No. 23.
Goldin at el,. (2002). The power of the pill: Oral contra- ceptives and women's career and marriage decisions. Journal of Political Economy. 110(4): 730(770).
Government of the Republic of Kenya. (1997). “Cooperatives in a Liberalized Economic Environment.” Session Paper No.6. Nairobi, Kenya. June 1997.
Keynes, J. M. (2006).the general theory of employment, interest and money, Atlantic Publishers & Distributors.
Kiiza, B., & Pederson, G. (2002). Household Financial Savings Mobilization: Empirical Evidence from Uganda. Journal of African Economies 10(4), 390-409.
Kombo, D.K., & Tromp, D.L. (2006). Proposal and Thesis Writing. Nairobi,
Kothari, C. R. (2004). Research Methodology. New Delhi: Willy Eastern Limited.
Koçkesen, Levent, Efe A. Ok, and Rajiv Sethi. 2000. The Strategic Advantage of Negatively Interdependent Preferences. Journal of Economic Theory 92 (2): 274-299.
Lihiku, N. G. (2006). Determinants of savings in Malawi: a household level analysis. Lilongwe: University of Malawi.
Lincoln,S et el(1985);Naturalistic Inquiry:Beverly Hills CA Sage Publications
Mugenda, O. & Mugenda, A. (2003). Research methods: Quantitative and qualitative research. Nairobi: Nairobi acts press
Mugenda, A. (2008). Social science research: Theory and principles. Nairobi: Kijabe Printing Press.
Mugenda, A. & Mugenda, B. (2010) Research Methods Quantitative and Qualitative Approaches. Nairobi: ACTS Press.
Mukhongo, W. (2014). Determinants of Rural Household Savings in Bungoma County - Kenya. Nairobi: Kenyatta University.
Mukindia, S. M. (2012). Influence of socio-cultural factors on households savings among Maasai Community in Transmara District, Narok County. Nairobi: University of Nairobi.
Mulino, F. R. D., & Chai, D. (2008). On the linkage between financial risk tolerance and risk aversion. Journal of Financial Research, 31(1), 1-23doi: 10.1111/j.1475-6803.2008.00229.x
Nieuwland, J. (2013). Are Savings Sexy? The Role of the Sex Ratio as a Determinant of the Personal Saving Rate. Haverford: Haverford College.
Njung’e, P. M. (2013). Gender And Household Savings Behavior In. Nairobi: University of Nairobi.
Onwuegbuzie, A. J., & Collins, K. M. T. (2007). A typology of mixed methods samplingdesigns in social science research. The Qualitative Report, 12, 281-316. Retrievedfrom Seiten)
Orodho, A. & Kombo,D. (2005). Research Methods. Nairobi: Nairobi: Masola Publishers
Patton, M. (1990). Qualitative evaluation and research methods (pp. 169-186). Beverly Hills, CA: Sage.
Plessis, G. d. (2008). An exploration of the determinants of South Africa’s personal savings rate: Why do South African households save so little? Pretoria: University of Pretoria.
Schmidt, L., & Sevak, P. (2006).Gender, marriage, and asset accumulation in the United States. Feminist Economics,12(1), 139-166.
Schultz, P. (2004), Demographic Determinants of Savings: Estimating and Interpreting the Aggregate Association in Asia, Centre Discussion Paper No. 901, Yale University.
Strydom, P. (2007). Saving behaviour by South African households, First National Bank, 3.
Sunden, A. E., &Surrette, B. J. (1998). Gender differences in the allocation of assets in retirement savings plans. American Economic Review, 88, 207-211.
Tesar, L. L. (1991). Savings, investment and international capital flows, Journal of International Economics, 31(1–2), pp. 55-78.
Weinberg, Bruce A. 2000. Computer use and the demand for female workers. Industrial and Labor Relations Review. 53: 290{308.
Williams, M., Tutty, L.M., & Grinnell, R.M., Jr. (1995). Research in social work (2nd ed.). Itasca, IL: F.E. Peacock.
Wu, K. (2005). The material consequences of how socialsecurity keeps older persons out of poverty across developed countries. Luxembourg Income Study Working Paper Series.
Yuh, Y., & Hanna, S. (1997). The Demand for Risky Asset in Retirement Portfolios. Proceedings of the Academy of Financial Services.
Science Publishing Group
1 Rockefeller Plaza,
10th and 11th Floors,
New York, NY 10020
Tel: (001)347-983-5186