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The main
objective of the study was to explore the savings behaviour of rural
household in the Ho Municipality. The population used for the study
was rural families in the Ho Municipality of the Volta Region of
Ghana. The sample size of 160 households was drawn from the
population using the multi-stage cluster sampling technique.
Descriptive statistics were used to analyse the data collected. The
findings showed that in general, the family heads’ knowledge about
savings is low and that the families save more in the informal forms
than in the formal forms. The findings also revealed that personal,
societal and organisational constraints inhibit the respondent
families’ ability to save. The studied families also do not have any
particular pattern for saving as they save as and when they have an
excess income. Based on these findings, it was recommended that an
outreach programme be instituted to help educate the rural families
on the use of their income as well as on the savings avenues that
are available for them. The findings have serious implication for
eradicating rural poverty in the study area and in Ghana as a whole.
Keywords:
Saving, rural household, family, Ho municipality, Volta region,
Ghana. |
