Personal Financial Planning in the Cashless Society of Population in Phayao Municipality, Muang District, Phayao Province
Keywords:
Financial planning, Cashless society, Factors related to financial planningAbstract
This study aims to study the factors that influence financial planning in the cashless society. The data of this study are collected by questionnaires from 370 people who live in Phayao municipality, Phayao province. Frequency, percentages, means, and standard deviations are used for data analysis. Multiple regression is used for testing hypotheses.
The results find that most of the respondents are females, aged between 30-39 years, having a bachelor's degree, having an income less than 10,000 Baht per month, having a frequency of saving every month, savings ratio less than 25% of monthly income, period of savings less than 3 years, and savings in a deposit account. Furthermore, the results show that the financial literacy factor consisting of attitude towards financial planning, economies, rate of returns, financial technology factor and security of financial technology factor influence financial planning in the cashless society at the statistical significance level of 0.05. Moreover, this study finds that people don’t know and understand financial planning in the cashless society. Finally, this study suggests that the relevant organizations should teach about financial planning, financial instruments, and the cashless society to people for creating stability of life.
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