Authors: Rutuja Santosh Thorat, Dr.Tejaswinee Ingle
Abstract: Personal financial planning plays an important role in achieving financial security and improving the standard of living of individuals. Salaried employees often face challenges in managing income, expenses, savings, investments, and future financial needs due to rising living costs and economic uncertainty. This study focuses on analyzing the financial planning practices and saving behaviour of salaried employees. The research examines factors such as income level, expenditure pattern, financial awareness, investment preferences, risk attitude, and saving habits that influence personal financial planning. The study aims to understand how salaried employees manage their finances and the importance they give to savings and investments for future goals such as education, retirement, emergencies, and wealth creation. Both primary and secondary data sources are used for the study. Primary data is collected through questionnaires and surveys from salaried employees, while secondary data is collected from journals, books, articles, and financial reports. The findings of the study indicate that income level, financial literacy, and awareness about investment options significantly affect saving behaviour and financial planning decisions. It is also observed that many salaried employees prefer safe investment avenues such as bank deposits, insurance, and provident funds, while fewer employees invest in market-linked instruments due to risk factors and lack of knowledge. The study concludes that effective financial planning helps salaried employees achieve financial stability, reduce financial stress, and improve future financial security. It also highlights the need for increasing financial education and awareness among employees to encourage better saving and investment practices.
DOI: https://doi.org/10.5281/zenodo.20204315
