Abstract:
This study explores the spending behaviour and financial decision-making of single
working women in the Western Province of Sri Lanka, focusing on how
socioeconomic, demographic, and financial factors influence their consumption
patterns. With the rising economic participation of this demographic, understanding
their financial behaviour is essential for policy formulation and targeted financial
services. Primary data were collected from a sample of 200 respondents using a
structured questionnaire. Statistical techniques such as frequency analysis, chi-square
tests, independent sample t-tests, and multiple regression analysis were employed to
identify key determinants of spending behaviour. Findings reveal that education level,
income, household composition, savings frequency, and access to credit and financial
investments significantly impact spending patterns. Women with higher educational
qualifications and income levels tend to exhibit more strategic and planned spending
habits. Access to credit facilities and insurance policies was also associated with
increased average expenditure, reflecting enhanced financial confidence and stability.
However, financial investments showed no significant impact on spending,
suggesting a preference for short-term financial satisfaction over long-term planning.
This study highlights the economic importance of single working women and the
need for financial institutions and policymakers to consider their unique financial
needs. The insights gained can aid in developing tailored financial products,
improving financial literacy programs, and promoting inclusive economic policies.
Addressing the distinct challenges faced by this group will contribute to their
financial empowerment and broader socioeconomic development in Sri Lanka.
