Scale2Save research tracks young people's financial activity in Nigeria
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BRUSSELS, 18 September 2020 – Young people do not save by spending less, they save by earning more. That finding appears in a NextBillion website guest article that presents new research under the Scale2Save programme that observes spending, earning and savings habits of young people in Nigeria during the Covid-19 pandemic.
Written by Mahlet Alemayehu a programme manager at L-IFT, a research organisation, she shares how the research tracked 117 young people living in the market town of Uromi and in Benin City to keep record their savings through saving diaries. Data harvested from those diaries as well as interviews with the young people once every week over a three-month period confirmed income-savings relationship.
Young people within the study earned my from own sources, but also received financial support from family members that ended up spent. The diaries data unpacked the relationship between income, spending, support and saving, to see what young people did with the money they earned and the money they were given. >> Read now the guest article at NextBillion