Figure 1.
Figure 2.
Descriptive statistics (median value and IQR for each quarter, divided by three) on the income and expenses data provided_ There were 4,256 participants considered for this study_
| Variable | QI | Q2 | Q3 | Q4 |
|---|---|---|---|---|
| Income received | 5,516 | 5,600 | 5,531 | 5,502 |
| 4,028-7,762 | 4,060-7,760 | 4,000-7,729 | 3,968-7,718 | |
| Debt repayment | 639 | 653 | 631 | 567 |
| 327-1,116 | 311-1,145 | 271-1,133 | 229-1,060 | |
| Funds for living expenses/saving | 2,624 | 2,756 | 2,740 | 2,821 |
| 1,882-3,701 | 1,938-3,946 | 1,883-4,032 | 1,903-4,148 |
Descriptive statistics on the sociodemographic data provided by the financial Institution and used for this study_ There were in total 4,256 participants considered for this study_
| Variable | Description | # Participants | Missing | Min | Max | Median (IQR) |
|---|---|---|---|---|---|---|
| Adults | Count of adult account holders on the account | 4,256 | - | 1 | 2 | 1 (1-2) |
| One adult | 2,380 | |||||
| Two adults | 1,876 | |||||
| Children | Number of children in the family unit | - | 0 | 8 | 1 (0-2) | |
| No child | 1,991 | - | ||||
| One or more child | 2,265 | - | 1 | 8 | 2(1-3) | |
| Age | Age of main account holder | 4,256 | - | 20 | 64 | 37(31-46) |
| Initial Income | Expected annual income provided by participants at the time of joining | 4,256 | 4 | 14,544 | 623,674 | 65,318(47,779 - 90,483) |
Comparing beginning (first quarter) and ending (fourth quarter) income received, debt repayment, debt repayment to income ratio, and funds available for living expenses/saving and its income ratio_
| Variable | Z (no grouping) | Z (single) | Z (Joint) | Z (no children) | Z (children) |
|---|---|---|---|---|---|
| Income received | -0.68 (P=0.49) | -0.11 (P=0.92) | -0.81 (P=0.42) | -1.44(P=0.15) | -1.99* |
| Debt repayment | -8.82** | -4.53** | -7.86** | -4.03** | -8.20** |
| Debt repayment to income ratio | -8.10** | -4.24** | -7.58** | -3.71** | -7.82** |
| Funds available for living expenses/saving | -12.25** | -7.57** | -9.71** | -9.09** | -8.32** |
| Funds available for living expenses/saving to income ratio | -15.35** | -9.19** | -13.19** | -10.10** | -11.70** |
Correlation coefficients for Income, debt repayment, debt repayment to Income ratio, funds for living expense/saving, its income ratio and age_
| Variable 1 | Variable 2 | Spearman’s rho |
|---|---|---|
| Income for the first quarter | Income for the fourth quarter | 0.84** |
| Income for the first quarter | Debt repayment for the first quarter | 0.45** |
| Debt repayment for the first quarter | Debt repayment for the fourth quarter | 0.59** |
| Debt repayment to income ratio for the first quarter | Debt repayment to income ratio for the fourth quarter | 0.55** |
| Income for the first quarter | Funds for living expense/saving for the first quarter | 0.84** |
| Funds for living expense/saving for the first quarter | Funds for living expense/saving for the fourth quarter | 0.75** |
| Funds for living expense/saving to income ratio for the first quarter | Funds for living expense/saving to income ratio for the fourth quarter | 0.51** |
| Age of main account holder | Income for the first quarter | 0.21** |
| Age of main account holder | Debt repayment for the first quarter | 0.04** |
| Age of main account holder | Funds for living expense/saving for the first quarter | 0.12** |
Results of testing the differences in distribution of income, debt repayment, debt repayment to income ratio, and funds available for living/saving using Mann-Whitney U test_
| Variable | Za | Zb |
|---|---|---|
| Income for the first quarter | -42.35** | -26.02** |
| Income for the fourth quarter | -40.32** | -23.62** |
| Debt repayment for the first quarter | -18.44** | -4.13** |
| Debt repayment to income ratio for the first quarter | -2.32* | -9.72** |
| Debt repayment for the fourth quarter | -13.21** | -1.17 (P= 0.24) |
| Debt repayment to income ratio for the fourth quarter | -3.59** | -9.84** |
| Funds for living expense/saving for the first quarter | -37.33** | -26.5** |
| Funds for living expense/saving to income ratio for the first quarter | -3.01** | -4.11** |
| Funds for living expense/saving for the fourth quarter | -33.33** | -22.02** |
| Funds for living expense/saving to income ratio for the fourth quarter | -0.63 (P=0.53) | -3.36** |
Beginning (first quarter) and ending (fourth quarter) Income received, debt repayment, debt repayment to Income ratio, and funds available for living expenses/saving and Its Income ratio_ Ratios are given In percent and we observed similar trends In mean values also_
| Variable | Quarter | Z(no grouping) | Z(single) | Z(Joint) | Z(no children) | Z (children) |
|---|---|---|---|---|---|---|
| Income received | First | 5,516 | 4,308 | 7,724 | 4,397 | 6,716 |
| Fourth | 5,502 | 4,302 | 7,674 | 4,458 | 6,649 | |
| Debt repayment | First | 639 | 513 | 863 | 598 | 673 |
| Fourth | 567 | 478 | 732 | 563 | 570 | |
| Debt repayment to income ratio | First | 11.63 | 11.97 | 11.30 | 13.28 | 10.40 |
| Fourth | 10.57 | 11.21 | 9.93 | 12.62 | 9.11 | |
| Funds available for living expenses/saving | First | 2,624 | 2,060 | 3,603 | 2,099 | 3,216 |
| Fourth | 2,821 | 2,184 | 3,951 | 2,255 | 3,444 | |
| Funds available for living expenses/saving to income ratio | First | 48.22 | 48.89 | 47.64 | 47.21 | 48.98 |
| Fourth | 51.68 | 51.64 | 51.73 | 50.67 | 52.48 |