Determinants of Financial Prudence among the young Adults in Bihar’s Tier 1 City: An Empirical Study on Savings Behavior and Gender Dynamics

Tracy Joan Reid; Kesar

doi:10.69968/ijisem.2026v5Si1118-123

Authors

Tracy Joan Reid Assistant Professor, Department of Commerce, St Xavier's College of Management and Technology
Kesar Student, Department of Commerce, St. Xavier’s College of Management and Technology

DOI:

https://doi.org/10.69968/ijisem.2026v5Si1118-123

Keywords:

Financial Prudence, Savings Behavior, Gender Dynamics , Financial Literacy, Economic Stability

Abstract

In today's uncertain economy, living within means and having a buffer for unexpected emergencies has become not only necessary for stability, but peace of mind as well. Increasing costs of living, an uncertain job market, rising health care costs, and abrupt events like pandemics and natural disasters show why a safety quilt is necessary. For young adults in growing metropolitan regions, these necessities seem most urgent. Most people experience income volatility, high living expenses, lifestyle pressures and limited access to sound financial advice. The goal of the current research is to understand how young adults cope with financial responsibility and crisis counseling in Patna, a Tier 1 city of Bihar. It explores closely the roles of savings behavior, gender on decision making, attitudes towards risk and methods of generating security.

The overall goal of this research is to provide information that can support responsible financial activities and promote saving as a sustainable goal. Emerging from a gender approach, the study points to the need to adopt measures towards inclusive access to financial knowledge and resources for both women and men. Ultimately, this research has the objectives of deepening knowledge and understanding of how young adults are more likely to become financially resilient not only for their own futures, but for the economic well - being of their communities

References

[1] Imam. N. F, Sri. O, Haikal. G. (2025). Shedding Light on the Prediction Financial Distress. Journal of Business Management Review. 6(9). 1270.

[2] https://www.researchgate.net/publication/396098290_Shedding_Light_on_the_Prediction_Financial_Distress_The_Power_of_Prudence_in Financial_Reporting

[3] Laerke. H. (2025). A Sociological Framework Of Crisis Preparedness.

[4] https://www.researchgate.net/publication/396713416_A_Sociological_Framework_of_Crisis_Preparedness

[5] Johnny. M. (2025). Assessing The Financial Literacy And Prudence of College Students In The Downtown Boston Area.

[6] https://www.researchgate.net/publication/392431385_Assessing_the_Financial_Literacy_and_Prudence_of_College_Students_in_the_Downtown_Boston_Area

[7] Nural. A. R, Arifah. F. A. (2025). Prudence Accounting Financial Distress and Foreign Operations on Tax Avoidance. Accounting Analysis Journal. 14(2). 93-103.

[8] https://www.researchgate.net/publication/396114134_Prudence_Accounting_Financial_Distress_and_Foreign_Operations_on_Tax_Avoidance_Leverage's_Moderating_Role

[9] Tandry. W. H, Marshia. L, Natasya. W. (2025). The Effect of Prudence Financial Distress and Litigation Risk on Audit Quality Moderated by the Characteristics of the Audit Committee Chairman. Journal of Accounting and Finance Management. 6(4). 2019.

[10] https://www.researchgate.net/publication/395706980_The_Effect_of_Prudence_Financial_Distress_and_Litigation_Risk_on_Audit_Quality_Moderated_by_the_Characteristics_of_the_Audit_Committee_Chairman

[11] Don. J. (2025). The Influence Of Financial Literacy On Financial Resilience. Managerial Finance. 48.

[12] https://www.emerald.com/mf/article-abstract/48/9-10/1453/290103/The-influence-of-financial-literacy-on-financial?redirectedFrom=fulltext

[13] De Silva, C. (2025). Finance Leadership in Crisis Management: The Role of Financial Leadership in Ensuring Resilience During Turbulent Times with Reference to Apparel Industry in Sri Lanka. https://www.theseus.fi/handle/10024/897940

[14] Vaibhav Mishra. (2025). Disaster of Risk Financing. https://www.researchgate.net/publication/391937615_Disaster_Risk_Financing

[15] Smirnov. O. (2024). Business Financial Management in Crisis. 88 https://books.google.co.in/books?hl=en&lr=&id=g2HvEAAAQBAJ&oi=fnd&pg=PA85&dq=Finance+Prudence+%26+Crisis+Preparedness&ots=a-_74lM35v&sig=uixATepzkv5gdZ7kIfAG6-hr9kI&redir_esc=y#v=onepage&q&f=false

[16] Wang, R. (2024). Safeguarding Enterprise Prosperity. Journal of the Knowledge Economy. 4(2).

[17] https://link.springer.com/article/10.1007/s13132-024-01752-z#additional-information

[18] Vikash. S. (2022). Financial Prudence And Its Importance. The Logical Advisor.

[19] https://www.thelogicaladvisor.com/importance-of-financial-prudence/

[20] Javad. Z. (2022). Identifying and classifying the contributing factors to financial resilience. Foresight. 24(2). 174-194

[21] Identifying and classifying the contributing factors to financial resilience | Foresight | Emerald Publishing

[22] Alexander, D. (2021). Disaster and Crisis Preparedness.

[23] https://discovery.ucl.ac.uk/id/eprint/10125137/

[24] Theo. N, Thanos. P, Jean. P. R. (2021). Disruptions and resilience in global container shipping and ports: the COVID-19 pandemic versus the 2008–2009 financial crisis. Marit Econ Logist. 23(2).

[25] https://pmc.ncbi.nlm.nih.gov/ar

[26] John, A. P. (2021). An Ounce of Prevention: What Promotes Crisis Readiness and How Does It Drive Firm Performance?. American Business Review. 24(1). 90-113. 95.

[27] https://digitalcommons.newhaven.edu/cgi/viewcontent.cgi?article=1327&context=americanbusinessreview