HOW YOUNG POPULATION MAKES PERSONAL FINANCE DECISIONS? EVIDENCE FROM NORTH MACEDONIA
Date Issued
2020-12
Author(s)
Kaftandzieva, Tamara
Abstract
Psychological factors, among which the key factor being the risk attitude, combined with
the socio–demographic factors, define the person’s behavior and activity on the financial
markets, as well as the decision–making regarding personal finances. The aim of this
research is to analyze the decision–making process regarding financial choices of the
young population in North Macedonia and to further explain young people’s motives for
the proposed decision and the conditions under which such decision was made. The
research was conducted through an AHP-based questionnaire that was distributed to
respondents younger than 35 years. According to the obtained results, the respondents
value stability the most, hence their primary choice is investment in property and luxury
goods. Young people are less inclined to invest, especially in the more complex financial
instruments. That being the case, apart from the campaigns already created, further
encouraging young people to make better and more informed decisions is necessary.
the socio–demographic factors, define the person’s behavior and activity on the financial
markets, as well as the decision–making regarding personal finances. The aim of this
research is to analyze the decision–making process regarding financial choices of the
young population in North Macedonia and to further explain young people’s motives for
the proposed decision and the conditions under which such decision was made. The
research was conducted through an AHP-based questionnaire that was distributed to
respondents younger than 35 years. According to the obtained results, the respondents
value stability the most, hence their primary choice is investment in property and luxury
goods. Young people are less inclined to invest, especially in the more complex financial
instruments. That being the case, apart from the campaigns already created, further
encouraging young people to make better and more informed decisions is necessary.
Subjects
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ISAHP 2020 Conference Paper.pdf
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