The Connection Between Ethnicity and Saving Habit - A Study on Tribal Households in Wayanad District of Kerala

Abstract

The household saving indicates the success of the household’s financial performance. It is the basis of the expenditure and investment decisions in the household level. It determines the level of indebtedness also. The concept of saving is strange among many ethnic households in Kerala. One of the main reasons for their current poor economic condition and indebtedness is that they did not have the habit of saving.  The study examines the behaviour and pattern of savings among five prominent ethnic households in the Wayanad district of Kerala. The results shows that there is an inter-group difference in the proportion of people having savings habits among the tribal population. The ethnicity of the household members had a significant influence on their monthly individual savings and there was a significant difference in the net savings of the households across different categories. The net household savings, methods, and purposes of savings also showed varying results among different ethnic households.