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Personal finance of gulf-returned Keralites
| Content Provider | Semantic Scholar |
|---|---|
| Author | Antony, Thomas Wilson, P. R. Dr. |
| Copyright Year | 2008 |
| Abstract | The study is about the Gulf-returned Keralites and their personal financial planning during the Gulf-period. The researcher has examined the nature of their income, expenditure, savings and investments during the Gulf-period and after their return. Even though the Gulf-returned Keralites had remitted huge amounts to Kerala, it appears that the majority of them are struggling hard to make both ends meet. The sample consists of 318 Gulf-returned Keralites selected by employing stratified random sampling technique, from 5 districts. After a pilot study, the data was collected through personal interviews using a structured schedule. In order to find out whether the respondents had personal financial planning during the Gulf-period, the researcher has evaluated 15 elements of personal finance using a five-point-scale rating technique. The hypotheses were tested using correlation, t-test, chi-square and ANOVA, through SPSS. The majority of the respondents were socially and economically backward at the time of migration. Out of the 318 respondents, only 41 (i.e.12.89°/o) had personal financial planning during the Gulf-period. The majority of those who migrated to the Gulf countries actually returned to where they have started, financially. In fact, they went to the Gulf countries and worked hard for economic prospects. During the Gulf period, though they have earned sufficient income it has been scrupulously spent on consumption items leaving very little for savings and investments. A major portion of their investments is in non-income generating items, and when they come back to Kerala, in fact, they are back to square one where their income is inadequate to meet their expenditure. The majority of the Gulf-returned Keralites have neither the financial strength nor the entrepreneurial abilities and leadership qualities to start their own business or industrial establishments. Most of them have already spent their savings and started selling the assets and properties to maintain the relatively high standards living they have been accustomed to following migration. In short, they are in more difficulty than earlier. Category wise, those who had personal financial planning during the Gulf period are better placed with respect to current income and present value of assets held. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://dyuthi.cusat.ac.in/xmlui/bitstream/handle/purl/3356/Dyuthi-T1333.pdf?sequence=1 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
