Monetary Investments Among Working Millennials

Abstract

Monetary investment has become an increasingly relevant financial behavior among working millennials as they enter critical stages of income generation, wealth accumulation, and long-term financial planning. However, their investment participation is shaped not only by financial motivation but also by income limitations, digital information exposure, transaction costs, risk tolerance, and financial knowledge. This study examined the monetary investment engagement of working millennials in Tandag City, Philippines, particularly Bachelor of Science in Business Administration graduates of North Eastern Mindanao State University who were employed in the financial sector. Specifically, it described the respondents’ socioeconomic profile, assessed their level of monetary investments in terms of investment information sources, investment channels, investment objectives, risk tolerance, and financial knowledge, identified the problems they encountered in investing, tested significant differences in investment dimensions when grouped by profile variables, and determined the relationship between monetary investments and investment-related problems. A descriptive quantitative research design was used. Data were gathered from 319 respondents using an adapted and locally modified questionnaire based on Veluchamy’s investment behavior instrument. The questionnaire was validated by experts from banking, insurance, and academe, yielding a validity mean of 4.20, while reliability testing produced a Cronbach’s alpha of 0.88. Results revealed that working millennials had a high level of monetary investment engagement, with investment objectives rated very high and investment channels receiving the lowest but still high rating. Respondents strongly encountered investment-related problems, especially irrelevant information, high transaction and maintenance charges, difficulty accessing updated information, lack of transparency, and difficulty finding trustworthy advisors. Significant differences were observed in selected investment dimensions when grouped according to age, gender, marital status, and monthly income. Monetary investment engagement and problems encountered were significantly and positively related. The study recommends income-sensitive, digitally grounded, and transparency-oriented investment literacy interventions for working millennials.