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| Analysis of The Factors Influencing Mobile Phone Savings. A Case of M-Pesa Savings in Iringa Municipal, Tanzania |
Jailos Mtindya.k, Brown Mwasyeba
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Abstract:
Savings is the portion of income not spent on current expenditures. Because a person does not know what will happen in the future, money should be saved to pay for unexpected events or emergencies. The study to analyze the factors influencing mobile phone savings (M-pesa savings being a case study in Iringa Municipal) have been conducted. Various factors have been identified to influence savings. A methodology employed in data collection were direct interview and questionnaires which were distributed randomly with a sample of 100 participants selected at random in Iringa municipal for those using M-pesa services provided by Vodacom (T) Limited and then analysis have been done using Excel and SPSS. After data analysis and interpretation it was found that there is a positive correlation between savings using M-pesa. Recommendations and suggestions have been provided and it is strongly suggested that M-pesa services charges on transferring and withdrawing money should be waived or reduced in order to attract more customers towards savings
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