Variation in spending patterns: Preliminary findings of a study of three generations

Pages: 1144-1146
Pooja Tyagi (Department of Psychology, Maharshi Dayanand University, Rohtak, Haryana)
Bintu Singh Ranga (Department of Economics, Kurukshetra University, Kurukshetra, Haryana)

The present study is an endeavor to describe the varying pattern in spending nature across three generations. For this purpose a study was conducted which consisted 60 participants of both sexes which was further divided into three groups. 1st group was of old age, age ranging between 70-80 (n=20), 2nd group was of middle age, age ranging between 40-55 (n=20) and 3rd group was of early adulthood, age ranging between 18- 28 (n=20) on the basis of purposive sampling from urban areas of Hisar district Haryana. The participants were measured with self constructed expenditure scale and interviewed as well. Findings revealed that youngsters spent just to show off while middle age group i.e. 2nd group was found to make significantly less expenditure as compared to 1st group. On other hand old age i.e. 3rd group was found to make need based expenditure only. Results clearly indicate variations across three generations. Findings show that we are becoming more expensive generation wise with little saving and bore buying. Variations are also found in need based buying. Youths spent to keep up with joneses. Youths shows low level of saving as compared to middle and old age group. The findings are discussed in the paper.