The Study of Mongolian Saving Habit-Certificate Deposit and General Saving Account as Example

• Main Authors: BULGAN TUMURTOGOO, Bulgan Tumurtogoo
• Other Authors: BENJAMIN C PARNG
• Format: Others
• Language: en_US
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/4j69y9

碩士 === 大葉大學 === 企業管理學系碩士班 === 106 === A good habit makes people rich. If money saving is a good habit and better way to manage asset, then term deposit account would be the special way with more secure and that is one of the best tools to help consumer change the attitudes and shape financial management habit and behavior. Bank is always an excellent and traditional way to train and start a person’s monetary management. The main purpose of this study is to find out and analyze the relationship between financial knowledge, future goals and saving habit. In this study, it is not only exploring the phenomenon of a term deposit account usage but also discuss how to encourage and develop a saving habit is being investigated. It is very interesting thing that Term Deposit and saving habit which is affecting Mongolian daily life very much, since most people do not know the benefit of deposit money into bank until they face emergency condition. Recently, people in Mongolia realize that saving money in bank not only can help personally but also help family and make them become financial secure. However, save money is difficult, for some people whose salary is not enough for living. Accordingly, saving habit is necessary to promote and execute by government and banking industry. It is significant to foster and encourage people to develop a habit, further, to save money in bank. The most effective saving habit is known as “Pay yourself first”. The consumer’s survey is distributed in in Mongolian rural and urban area among customers of banks so that data could be more comprehensive. A total of 388 questionnaire respondents were surveyed in this study. The result shows Mongolians who have excellent knowledge and sense of financial and saving habit, normally affects them to hold a term deposit account with saving behavior. In this survey, participants financial basic knowledge not good. Therefore, in this study some hypothesis not supported. However, this survey has future research recommendations.