Exploring Parental Approaches to Financial Planning for Daughters in Dibrugarh Town
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Abstract
This study investigates the financial planning behaviours of parents in Dibrugarh Town, India, with a particular focus on how various demographic factors influence their decisions regarding savings and investments for their daughters’ futures. The research is structured around three primary objectives. First, it analyzes how parental age impacts preferred saving and investment strategies, comparing the tendencies of younger versus older parents. Second, it delves into specific parental saving habits, including the proportion of annual income allocated for their daughters, the financial targets they aim to achieve and the types of instruments they prioritize-such as savings accounts, fixed deposits and other traditional avenues. Third, the study examines the role of parental income and educational background in shaping financial planning choices. By exploring these dimensions, the research aims to offer valuable insights into the ways parental financial decisions contribute to the long-term economic security of daughters, emphasizing the importance of customized financial literacy initiatives to support effective family financial planning. Ultimately, the study emphasizes that financial planning should be viewed not only as an economic necessity but also as a critical developmental and emotional commitment. Recognizing financial literacy and planning as fundamental to holistic child development can empower families, foster emotional resilience and cultivate socially responsible future generations.
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