Mobilization of savings is vital for any country, especially for developing economies to maintain the required level of investment to achieve a sustainable economic growth and development targets over the time. Sri Lanka is currently facing the problem of the widening annual budget deficit due to low income from domestic and foreign sources while increasing government expenditure due to a number of reasons which is the main root course of the problem of insufficient national savings. Official data of CBSL prove that the personal and household saving is the largest component of domestic saving in Sri Lanka for many decades. This paper attempts to explore the savings intentions of university students in Sri Lanka and to identify psychological and socio-economic perspectives that effect on savings of university students.

Published in: Canada International Conference on Education, 2017

• Date of Conference: 26-29 June, 2017
• DOI: 10.2053/CICE.2017.0245
• Electronic ISBN: 978-1-908320-83-4
• Conference Location: University of Toronto Mississauga, Canada