Abstract:
Most rural households as a result of poverty have lower levels of savings and investment, however rural women are the most disadvantaged with significantly lower savings and assets than their male counterparts. The general purpose of the study was to explore rural women‟s savings and investment practices in Wassa Amenfi Cental District. Specifically, the study identified the level of awareness towards savings and investment among rural women; identified the forms of savings and investment patronized by rural women and examined the factors that influence their savings and investment practices. A structured interview schedule was used to collect a total of 367 rural women residing in Wassa Amenfi Central District who were sampled using the multi-stage random sampling technique and purposive sampling procedure. Means, standard deviations, frequencies, chi-squared and binary logistic regression analyses were employed. The study found that generally, rural women know about savings and investment and most of them are able to save part of their earnings. They prefer informal means of savings because of ease of accessibility and concerns of safety. Similarly, they indicated their preference for an informal investment tool (farming) for reason that farming is a lucrative venture. Level of income and level of education was found to significantly influence the savings and investment practices of rural women in Wassa Amenfi Central District. Based on these findings, it is advised that family management fundamentals be incorporated into the school curriculum in order to make knowledge on investing and saving more accessible.
