An Analysis of the Saving Motives of the Households in North Gujarat

For doing any activity, there needs to be some motivation. The act of saving is no different. The present study tries to identify if the households in North Gujarat Region have similar motives to save or not. In this study, fifteen motives were identified. A questionnaire was designed for this purpose and ranks were collected from the households living in the North Gujarat Region. Data from 860 units was collected. They were classified as per the district, area, age of the head of the household, their education, occupation, the type of the family and residence. About 399 homogeneous groups were created. The ranks given by the units were converted into Garret Score and then they were combined into five needs categories as proposed by Maslow (1943). With the help of Kruskal-Wallis Independent sample test it was tested if the ranks given by the units under the study were similar or not. The results of the study indicate that area and the occupation of the head of the household had a significant influence on the ranks given by the household while residence type had no influence on the ranks given by the household