Life Stages and Financial Products Essay Example | Topics and Well Written Essays - 2000 words

Life Stages and Financial Products - Essay Example Most individuals assume that they have a lot of time on their hands and this could prevent them from building a strong portfolio. Failure to start early at this phase could deny one the opportunity of enjoying interests that accrue from time. Additionally, starters may struggle with minimal income, so this could be a challenge. Student debt may also trouble persons in this category as they attempt to cover their living expenses in the process (Koh, 2012). Young people often want to have fun and enjoy the benefit of not being tied down by responsibilities. They may be focusing on climbing the career ladder and getting to know what they really stand for. Perhaps the biggest challenge for young professionals is that they lack information on how to invest. They may be boggled by a plethora of information available on financial security. Some may purchase cars at this stage or do so later. Starting a young family is the next phase. Usually, one will get married and start having children. It may begin in the late twenties or early thirties. At this stage of life, people will need to think of relocating to a bigger house that will accommodate more people. Additionally, concerns about merging two people’s financial lives together may arise. Matters to do with health and education for the young children also need to be addressed. It is often necessary to plan for a rainy day as several dependants are in the picture (This is Money, 2013). Expenses at this time will often rise as children and family members can be quite expensive.

Data Analysis report Assignment Example | Topics and Well Written Essays - 2000 words

Data Analysis report - Assignment Example According to Kimiecik (1992) and Beck and Ajzen (1991), what others expect is very key and determines the level of influence they have on another person’s decisions. Subjective norms, perceived behaviour changes and hindrances combine to give rise to intentions. To Beck and Ajzen (1991), a favourable attitude accompanied by the other factors gives a stronger position in making decisions. However, this does not mean that believes alone have any sufficient evidence that intentions change. The study was on theory of planned behaviour and aimed at gaining a deeper understanding of the roles of various factors including subjective norms, behaviours and others that affect/influence the attitude of consumers in making decisions. The researcher sampled in order to draw inferences about the whole population. In the research study, the researcher used a sample of 150 participants. All the participants were sampled from Europe; 73 (35 males and 38 females) of the participants were sample d from UK and the other 77 (46 males and 31 females) were sampled from Germany. The researcher employed the use of a questionnaire to collect the information. Questionnaires are used since they give more information from many participants within a very short time. Further, the closed questions are easier and faster to analyze (Freed, M. et al. (1991). The research tool was developed according to Ajzen (1987; 1991; 2002) laid down procedures. The questions were guided by the objectives of the study. SPSS was used to analyze the data. Various analysis methods were used. Descriptive statistics were used to show data representation while multiple regressions were used to show the significance of the contribution of each independent variable; the amount of change in the dependent variable holding all the other independent variables constant. Before actual regressions. The error terms were tested if they meet all the assumptions employed in regression analysis. Homoskedasticity was tested using the White test (Gore and Altman 1992). Further, correlations were used to show the strength of the relationships between the independent variables. Before all the other analyses were conducted, reliability analysis was conducted to establish the reliability and validity of the variables for inclusion in the study. The results are presented below; Findings Table 1: Profiles Frequency Percent Country United Kingdom 73 48.7 Germany 77 51.3 Total 150 100.0 Gender Female 69 46 Male 81 54 Total 150 100.0 Relationship Status Single 58 38.7 Married or in a relationship 92 61.3 Total 150 100.0 ?/â‚ ¬ spend per week 0-39 ?/â‚ ¬/week 50 33.3 40-79 ?/â‚ ¬/week 68 45.3 80-119 ?/â‚ ¬/week 28 18.7 120+ ?/â‚ ¬/week 4 2.7 Total 150 100.0 All the participants were sampled from Europe; 73 (35 males and 38 females) of the participants were sampled from UK and the other 77 (46 males and 31 females) were sampled from Germany. 69 were females while 81 were males. 58 of the participan ts were found to be single while 92 were found to be married/or were in a relationship. The level of weekly spending was found to be varying much as the findings indicated that 45.3% spend ?/â‚ ¬ 40-79 per week with a meager 2.73% spending ?/â‚ ¬120+ per week. 29.3% of the participants placed their annual earning ranging between ?/â‚ ¬15-24,000 compared to 18.8% who said their earnings ranging from ?/â‚ ¬ 40, 0000 + per year. Table 2: Descriptive Statistics N Mean Std. Deviation Int_Avg 150