Savings Strategies Research Articles

Financial Readiness, Combat Readiness: A Structural Equation Modelling Approach On Saving Habits Among Malaysian Military Personnel

Saving money benefits individuals and the economy. This research examines the factors affecting Malaysian military personnel's saving habits. The study focuses on the impact of financial literacy, financial inclusions, financial stress, peer influence, military culture, and self-discipline on saving habits. The positivist study design was based on a survey questionnaire of 1000 Malaysian Armed Forces military personnel. Data from the pilot and main survey were analysed using SPSS 29.0 and SmartPLS4, respectively. The study randomly selected respondents from a population of approximately 120,000 actively serving military personnel. The respondents include officers and other ranks deployed at various military bases and camps in Malaysia. Except for self-control, financial stress, and financial inclusions, the remaining three variables have strong connections with the savings habit. The findings support life cycle and planned behaviour theories. This study sheds light on military personnel and the necessity of savings strategies for financial readiness.

Flexible Charging to Energy Saving—Strategies Assessment with Big Data Analysis for PHEVs Private Cars

In road transport, most vehicles today still rely on internal combustion engines. However, these engines have lower efficiency and generate higher pollution levels compared to electric motors. Consequently, there is a growing interest in the transition from conventional vehicles to electric ones. However, the transition to an electrified road transport system is not without challenges. Among these, the impact that electric vehicle charging will have on the electricity grid is of particular concern. This paper analyzes different charging scenarios for plug-in hybrid electric vehicles (PHEVs) and proposes charging strategies to minimize their impact on the electricity grid. The analysis is based on a large dataset of trips in urban areas in Italy. The study shows that smart charging of PHEVs can be implemented to minimize the impact on the electricity grid. The implementation of optimized charging strategies can contribute to making PHEVs a valid, eco-sustainable alternative to conventional vehicles while also promoting the stability and efficiency of the electricity grid. The study aims to verify the effectiveness and efficiency of the flexible charging strategy by comparing the common charging operation (first in–first out) with other, less impactful charging schemes.

Simulation-Based Exploration with Energyplus as an Energy Efficiency Strategy

In countries with tropical or subtropical climates, such as Indonesia, the use of air conditioning is becoming increasingly important for comfort and productivity. However, high energy use in air conditioning systems has significant environmental and economic impacts, including increased greenhouse gas emissions and high operational costs. This research aims to analyze the Energy Consumption Index (ECI) in the Joint Lecture Building, State University of Malang using EnergyPlus software simulation. Research data consists of building data, weather data, building construction data, operating schedules, equipment specifications, and energy usage data. Furthermore, the data analysis technique used ECI calculations based on EnergyPlus software simulation. The research results show that based on the Energy Consumption Index value it is 201,943 kWh/m2/year, but with a savings scenario it becomes 161,964 kWh/m2/year (an increase of 19,797%) so it is classified as efficient. The energy-saving scenario implemented is to replace the Constant Air Volume (CAV) air conditioning system with Variable Air Volume (VAV) and the types of luminaires that were originally fluorescent will be replaced with Light Emitting Diodes (LEDs). The comparison results obtained an energy-saving value of 19,797%. The research results show that using VAV and LEDs technology can increase energy efficiency in the Joint Lecture Building, State University of Malang. The scenario attempts to reduce environmental impact through energy efficiency in commercial buildings and shows that the EnergyPlus simulation method is an effective approach for designing energy savings strategies.

Marsirimpa Tradition as a Livelihood Strategy of Sharecroppers in Sidiangkat Village, Sidikalang District

The marsirimpa tradition is a survival strategy carried out by poor farmers, one of which is rice farming sharecroppers in Sidiangkat Village, Sidikalang District. This strategy is carried out to minimize the amount of expenditure on capital for agricultural activities. The poverty experienced by sharecroppers which can be seen based on the socio-economic conditions of the family affects the survival strategy carried out. This means that the marsirimpa tradition is carried out by poor farmers who have limited capital. This research aims to describe the socio-economic conditions and survival strategies carried out by sharecroppers in SidiangkatVillage in meeting family needs. The main informant in this research is the head of Sidiangkat neighborhood I, the main informant is four sharecroppers, additional informants are two landowners. Data collection techniques are done by literature study, interviews, observation and documentation. The data obtained in the field was then analyzed qualitatively to produce a conclusion. The results showed that the socio-economic conditions of sharecroppers were below the poverty line with a total income of around Rp500,000 to Rp1,000,000 per month with two to six dependents. The type of residence is contact and self-owned which is equipped with a PLN lighting source and well and irrigation water sources and has been facilitated with private toilets. Active strategies carried out are by increasing income, having additional jobs, raising livestock and utilizing the potential of family members. Passive strategies by minimizing expenses or implementing savings strategies. While the network strategy is carried out by making loans, utilizing government assistanceand assistance from relatives.

A roadmap for sustainable implementation of vocational rehabilitation for people with mental disorders and its outcomes: a qualitative evaluation

BackgroundPeople suffering from mental health disorders have lower work participation compared to people without mental challenges. To increase work participation within this group vocational rehabilitation interventions are often offered. Collaboration between the mental health care and social security sectors is needed to enable professionals to perform optimally when carrying out these interventions. Yet, regulatory and financial barriers often hinder sustainable implementation. To overcome these barriers an experimental roadmap for sustainable funding based on a shared savings strategy was piloted in four regions. The aim of the present qualitative study was to gain understanding of the uses of this roadmap and the factors that were important in the experiment’s process.MethodThe roadmap consisted of five steps based upon insights from shared savings strategies and implementation science knowledge, and was initiated by a national steering board. The roadmap aimed to make sustainable funding agreements (based on shared savings) for the implementation of a vocational rehabilitation intervention. In four regions, stakeholders from the mental health care and social security services sector followed the roadmap. We conducted interviews (n = 16) with involved participants and project leaders of the experiment and collected 54 sets of field notes and documents to evaluate the roadmap process. A thematic analysis was used to analyse the data.ResultsRegions perceived improved stakeholder collaboration around vocational rehabilitation after they were guided by the roadmap. Three regions made, or intended to make, agreements on collaboration and funding, yet not based on shared savings. Moreover, going through the roadmap took more time than anticipated. Stakeholder collaboration depended on factors like personal and organizational interests and collaboration conditions and values. Financial legislation and politics were regarded as barriers and personal motives were mentioned as a facilitator in this process.ConclusionsOur study showed that the roadmap supported stakeholders to establish a more sustainable collaboration, even though no sustainable financial agreements were made yet. Although participants acknowledged the function of financial insights and the need for financial resources, the driver for collaboration was found to be more on improving clients’ perspectives than on solving unfair financial distribution issues. This suggests modifying the focus of the roadmap from financial benefits to improving clients’ perspectives.

The Comparative Performance of Different Savings Strategies That Use French Instruments

The Comparative Performance of Different Savings Strategies That Use French Instruments

The Comparative Performance of Different Savings Strategies on Foreign Financial Instruments

The Comparative Performance of Different Savings Strategies on Foreign Financial Instruments

Board Diversity and Tax Saving Strategies of Financially Trouble Listed Firms in Nigeria

The study examined the relationship between board diversity and tax saving strategies of financially troubled listed firms in Nigeria. Board diversity was proxy using board gender diversity (BGD), board nationality diversity (BND) and board ethnicity diversity (BED) while tax savings was proxy as tax sheltering using effective tax rate (ETR). The ex post facto design was adopted and the data for the study was collected from the annual reports and accounts of the firms listed under industrial goods sector and oil & gas sector of the Nigerian Exchange Group (NGX)for the period of 2015-2022. Panel Least squares regression model was used in the data analysis and the results of the study show a significant and positive association between board gender diversity (BGD), board nationality diversity (BND), board ethnicity diversity (BED) and tax savings of listed financially troubled firms in Nigeria at 1% -5% significant level. The study therefore concludes that board diversity ensures corporate tax savings. The study recommends that firms should increase the number of female directors in the board as high proportion of female directorship presence ensures corporate tax savings so also the number of ethnic group in the board as it ensures ease resuscitation of financially troubled listed firms in Nigeria. A balanced approach towards the hiring of foreign directors was recommended for listed firms in Nigeria. With this development, corporate tax savings would constantly be maintained.

Heterogeneous Retirement Savings Strategy Selection with Reinforcement Learning.

Saving and investment behaviour is crucial for all individuals to guarantee their welfare during work-life and retirement. We introduce a deep reinforcement learning model in which agents learn optimal portfolio allocation and saving strategies suitable for their heterogeneous profiles. The environment is calibrated with occupation- and age-dependent income dynamics. The research focuses on heterogeneous income trajectories dependent on agents' profiles and incorporates the parameterisation of agents' behaviours. The model provides a new flexible methodology to estimate lifetime consumption and investment choices for individuals with heterogeneous profiles.

Energy savings strategy for the residential sector in Libya and its impacts on the global environment and the nation economy

ABSTRACT The energy consumption of the Libyan common house is estimated through the use of simulation namely, the TRNSYS simulation programme and other tools to reach the best solutions with the assumption of changing the behaviours of those buildings occupants into better behaviours that help in energy conservation. Using official data from The Ministry of Electricity and Renewable Energy, the Ministry of Housing and Utility, the Centre for Solar Energy Research and Studies (CSERS), measurements and a survey using a well-designed questionnaire, the relevant information is gathered and the research is conducted. The energy audit of the typical home has been conducted by using the simulation programme ‘TRNSYS’ and other tools, to identify the role and weight of each source of energy consumption in the energy savings strategy. The study provided a detailed analysis of the thermal and electrical consumption in Libyan houses. The energy audit showed that the total energy consumption was found about 16,500 kWh/year, and it is distributed by sources as 36% by electrical appliances, 24% by lighting the interior space, 15% for water heating, and about 13% for both cooling and heating the space. The estimated specific energy consumption is found as 238.7 kWh/m2 floor area. As a result, it is found that it is possible to save over 6650 TWh of electrical energy by implementing the proposed strategic plan. These savings will have a positive impact on both the economy and the environment by reducing CO2 emissions from power plants by 6.54 million tonnes of CO2 per year, saving about 1.935 million tons of burning Diesel fuel and saving about $333.54 million as social cost of the CO2. Highlights Identified the common Libyan home. Provided an inventory of electrical appliances and operating regime. Determined the specific energy consumption for the residential buildings in Libya. Determined the thermal and electrical load for the dwelling sector in Libya. Proposed a strategy to reduce energy waste in the dwelling sector. Estimated the environment and economic savings due to the implementation of the proposed strategy.

Conducting smart energy audits of buildings with the use of building information modelling

Energy audits are an integral part of the overall energy savings strategy in the building sector. The significance of energy audits was confirmed both by their adoption by the European Energy Savings Directive (2012/27) as well as by the development and issuance of a large number of European standards (standard series EN16247, EN 15378, EN 16798, EN 16946, EN 16947 etc.), related to the energy audit of buildings and building systems. However, current practices for conducting energy audits in buildings do not adopt the latest developments in the field of Industry 4.0 practices, resulting in the general belief within the engineering community of building physics that energy auditing can be further updated and improved. This work aims to introduce a novel approach for the improvement of existing building energy audit practices with the adaptation of building information models and associated data. The study presents the potential of evaluation process utilizing building information models for constituent energy audit procedure – assessment of building energy consumption related to building envelope. The question of whether there is room for further adoption of digitization practices in carrying out energy audits, as well as the possibilities of developing new tools in this area are addressed. Following this, the main outcome of this study is the overview and analysis of Industry Foundation Classes schema building information model data structure and its interrelationships with the aim of using the extracted information to digitize energy audit procedures. Research approach covers digitization of building energy consumption assessment influenced by building envelope characteristics, as well as evaluation of economic and energy aspects for possible building shell optimization scenarios. The study also presents the results of a case study evaluation carried out with the developed tool using building envelope modification feature for various environment and economic parameters. Additionally, the architecture, and the rationale for the developed tool backed, used to extract necessary information for implementing building energy audits are presented. We finalize with the discussion on upcoming developments in the field and on future work of this study.

Comparative Analysis of Energy Efficiency Programs in Large ASEAN Industries with Sustainable Energy Indicators

Reducing energy demand through energy efficiency (EE) policies is a key strategy in dealing with climate change and the energy needs of Southeast Asian countries (ASEAN). The industrial sector is the largest energy user sector and has significant energy-saving potential through good and sustainable energy management. This research is intended to analyze the progress of energy-saving programs in several ASEAN countries through policies that have been made with a focus on large industries. Five steps will be carried out, namely: searching for data on total population, GDP and total final energy consumption; conducting analysis with indicators of energy intensity, per capita energy consumption and GDP productivity; comparing the EE programs of ASEAN countries; designing savings strategies; and determine sustainable energy indicators. As a result, the energy consumption of ASEAN countries during the 2016 to 2020 time period has mostly increased. The policies that have been taken have similarities such as the implementation of energy audit and management, the application of minimum equipment performance standards, and the funding of the EE program. ASEAN countries need cooperation and coordination to ensure readiness in welcoming the energy transition.

Saving for Natural Disasters: Evidence From Pennsylvania Local Governments

For all governments—federal, state, or local—natural disasters impose significant costs. Among the three, local governments typically respond first using their own resources. Thus, a proactive fiscal mechanism providing resources for initiating disaster response (e.g., emergency debris removal, medical services, rescue) appears necessary, especially for governments vulnerable to disasters. This study explores the role of natural disasters on fiscal savings strategy using data collected by Pennsylvania municipal executives via our Pandemic Management Survey. Following our findings, Pennsylvania local governments appear to weigh both their experiences and preparedness level to face a disaster. While more disaster experiences motivated fiscal savings accumulation, lower savings were retained among prepared governments. As such, disaster learning and adaptation not only could limit loss of life and property, but also lead to an efficient fiscal savings strategy.

Firm Attributes and Corporate Tax Aggressiveness in Nigeria

Purpose: The study examined the impact of firm attributes on tax aggressiveness in Nigeria. The study employed the longitudinal research design.
 Methodology: The population consisted of the 13 listed commercial banks quoted on the Nigerian Stock Exchange. The final sample, after excluding firms with incomplete data, consisted of 13 Nigerian banks for a period of nine financial years (2012-2020). Data for the study were collected from the annual reports and financial statements of the selected banks. Two alternative measures of tax aggressiveness (GAAP-ETR and D_BTD) were employed and the data was analysed using the panel data regression technique while MAPE and Theil’s inequality coefficient was used in evaluating the forecast abilities of the models.
 Findings: The findings of the analysis revealed that firm size and firm complexity have significant positive relationship with tax aggressiveness, firm age and profitability asserted significant negative impact respectively on tax aggressiveness.
 Recommendations: The study recommends that regulatory bodies and tax authorities should beam their searchlight on the tax saving strategies of small size companies with a view to discouraging aggressive tax avoidance schemes. It was also recommended that regulators should increase their monitoring of the older firms as a strategy for reducing potential tax evasions while encouraging appropriate tax savings strategies to ensure greater tax compliance.

Land use and energy nexus

In this research, the connection between land use and energy has been discussed from two points of view, i.e., the impacts of energy on land use and the impacts of land use on energy. This research identified several direct and indirect land use changes that occur by clearing vegetation, destroying top soils, and relocating human populations during the different stages of extraction, deposition, and transportation of fossil fuels and uranium ore; and during the establishment of renewable energy sources including wind turbines, hydro-power plants, and associated structures (highways, dams, culverts, tunnels, power station infrastructure, and energy transmission networks). Likewise, feedstock cultivation, processing, and transportation to biomass plants, as well as the production of biodiesel from municipal solid waste, require accessible land resources that further contribute to global land-use change. In the case of the impacts of land use on energy, mixed use development was found to be one of the most efficient approaches to achieve energy efficiency. Similarly, energy demand for motorized travel can also be reduced with the development of urban blocks and transit-oriented development. Furthermore, integrated combined heat and power systems, green space, and energy-supporting land use regulations were identified as energy savings strategies that may aid in achieving energy efficiency and ensuring sustainable development.

Medically Smart, Fiscally Illiterate: Lack of Financial Education Leads to Poor Retirement Savings Strategies in Surgical Trainees.

Resident physicians are uniquely at high financial risk given their long training programs, lack of financial education, and documented poor financial literacy. Budgeting for retirement savings is an important metric for financial literacy. Semi-structured interviews were conducted with residents from two distinct surgery programs to assess their current financial status and their knowledge of and attitudes toward retirement savings strategies. Qualitative analysis was performed and the themes identified were examined in the context of previously reported quantitative survey data. As previously reported, 105 residents at Site 1 completed a comprehensive financial survey 56% of respondents reported having no retirement savings. On additional analysis, only 26% residents surveyed reported optimal savings habits defined as contributing $5000/year to a retirement account starting their first year of training. 23 residents from both sites and representing all post-graduate-year (PGY) levels then participated in the focused, semi-structured interviews. Site 2 residents were less likely to be female (P = .02) and carried a significantly larger debt burden (p < .01) but were otherwise comparable to residents from Site 1. On qualitative analysis three consistent themes emerged: (1) Resident understanding of strategies for retirement savings is poor; (2) Lack of knowledge is the primary barrier; (3) Surgical residents desire financial education. Surgery residents have a large debt burden, minimal retirement savings and an overall lack of understanding of savings strategies. Well-designed, early, and accessible educational interventions may improve the "financial vital signs" of surgical trainees and establish habits for long-term financial success.

Финансово-экономические стратегии тувинских семей (по материалам социологических исследований)

The article analyzes the financial and economic strategies of modern Tuvan families based on the materials of sociological studies conducted in the Republic of Tuva in 2019 and 2021. The features of the credit and savings behavior of the surveyed population in the context of different socio-demographic groups were studied using, among other things, statistical data on income, debt burden of the population. The reason for the high level of credit penetration into the practice of modern Tuvan families is not only an insufficient level of financial literacy and a culture of savings, but also objective monetary poverty. The article shows that the high level of demographic burden in the republic does not contribute to the development of savings and savings strategies. Based on the results of the analysis, the author concludes that the actual poverty of the population will grow unless a special policy is realized to develop the regional economy, as well as to increase financial literacy and a culture of savings among the population of the republic.

The Effect of past Algorithmic Performance and Decision Significance on Algorithmic Advice Acceptance

ABSTRACT This study aimed to investigate people’s willingness to accept algorithmic over human advice, under varying conditions of previous algorithmic performance and decision significance. We randomly presented hypothetical scenarios to 218 participants. Scenarios differed in relation to decision context (i.e., choices relating to taxi-routes, movies, restaurants, medical interventions, savings strategies, and bush fire evacuation), and within each scenario past algorithmic performance was also varied (equal, above average, or far greater than the human expert). Participants were asked to rate decision significance, and their likelihood of choosing the algorithmic advice over the human expert. Based on participants’ perceived decision significance, scenarios were classified as either low- or high-stakes. We tested for differences in participants’ ratings of algorithmic acceptance across levels of past performance and decision significance. Results revealed that as past accuracy and decision significance increased, the likelihood of algorithmic advice adoption also increased. An interaction between past accuracy and decision significance indicated increased algorithmic advice acceptance under conditions of far greater previous performance, in high-, compared to low-stakes scenarios. These findings are contrary to a large body of past research wherein people’s algorithm aversion persisted despite superior algorithmic performance and have implications to human-algorithm interaction and system design.

A behavioral change study in Denmark engaging car drivers in reducing fuel consumption: The key is in the message

Regarding resource scarcity and overpopulation, there is already a large number of sustainable solutions and frameworks available that could help propel the world into a better future. Yet, many of these issues are still left unsettled, which would indicate issues with the implementation of these solutions. Following research on behavioral analysis, a conceptual integrated framework was developed aiming to reveal how and why we can motivate individual consumers to engage in sustainable fuel consumption activities. The framework was tested in Denmark in a 30 days experiment involving 12 voluntary participants, testing their response to energy savings strategies. The results indicate that attitude shifts combined with the promotion of sustainable initiatives can result in a significant decrease in fuel consumption ranging from 13.4% to 25%. Following the experiment, the role of a modern society building on habits that propel its citizens toward their goals while trying to understand why certain habits are holding them back from achieving the desired outcome is elaborated.

Readiness of Russian students to form individual pension savings

Pension provision issues are among the most urgent problems in both the world and domestic socio-economic policy, as evidenced by frequent changes in pension legislation. Thus, the Russian pension system has undergone serious changes four times over the past two decades, however, by the standards of developed countries, the pension amount continues to be unsatisfactory. In order to attract long-term financial resources to the national economy and improve the quality of life of future pensioners, the authorities are increasingly demonstrating their interest in pushing the population to participation in the system of non-state pension provision. The article presents the results of a sociological study «Savings strategies of Financial University students», which was aimed at identifying the attitudes of Russian students regarding the formation of individual pension savings in non-state pension funds (NPFs). According to the results obtained, students, in general, are already thinking about their future retirement. However, in order to form savings for future old age, students need a sufficient amount of both current income and income in the long term. The most preferred tools for this are foreign currency, securities and cash rubles; the least interest is caused by services of NPFs and insurance companies, which is due to the ideas of insufficient profitability, as well as the riskiness of the activities of these organizations. To attract a youth audience, NPFs need not only to have a reputation as reliable, transparent and customer-oriented organizations, but also to build good communication with potential investors in order to explain the principles and mechanism of their work.