Understanding consumer behavior: spending and saving patterns among young adults earners vs. non-earners

Abstract

Consumer behavior, especially young adults, holds significant implications for individual financial well-being and broader economic trends. This study investigates spending and saving patterns among young adults, with a focus on disparities between earners and non-earners between the age of 18 to 25 years. Using an empirical methodology, the study makes use of survey information gathered from a wide range of young adults. Key variables that affect financial decision making are examined, including income level, education, employment, and family influences. Changing social conventions and the emergence of digital technology are also thought to have an impact on how people save and spend their money. The research endeavors to reveal, using quantitative analysis, the fundamental factors that influence young adult’s financial decision making, thereby offering significant recommendations for financial literacy campaigns.