Survey respondents highlighted several key reasons for saving. The majority, 35.9 percent, save for day-to-day needs, followed by 27.7 percent who save for emergencies.
Education needs accounted for 9.9 percent of savings, while 12.6 percent saved for retirement.
Business-related savings were reported by 7.5 percent, while 10.1 percent saved simply for safekeeping.
A smaller portion, 4.3 percent, saves with the goal of purchasing land, property, or house improvement.
These findings
suggest that the savings culture is primarily driven by
immediate needs, with a strong emphasis on day-to-day
expenses and emergency preparedness.
