A Study on Saving and Investment Pattern of Teaching Staff of Self Financed Colleges in Navi Mumbai
Abstract
Financial security is an increasing concern for employees in the private education sector, particularly those working in self-financed institutions who lack access to institutional safeguards such as government pension schemes and assured provident fund contributions. This study examines the saving and investment patterns of teaching staff employed at self- financed colleges in Navi Mumbai, an important educational hub within the Mumbai Metropolitan Region. Primary data were collected from 76 respondents using a structured questionnaire administered through Google Forms. The study analyses saving behaviour, identifies preferred investment avenues, and examines the influence of income, age, and teaching experience on investment decisions, along with assessing financial awareness and risk tolerance. The findings reveal that a majority of respondents save regularly, with fixed deposits and mutual funds emerging as the most preferred investment options. Income level was found to be a significant determinant of both the level of savings and the diversity of investment choices. The study highlights the need for improved financial planning practices and enhanced financial awareness among teaching professionals in self-financed institutions.