Browsing by Author "Neville Mwesigwa Rukuba"

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    The impact of bank charges on financial behavior of individuals in Uganda Christian University Mukono
    (Uganda Christian University, 2026-05-09) Neville Mwesigwa Rukuba
    This study examines the impact of bank charges on the financial behavior of individuals at Uganda Christian University (UCU), Mukono. Using a descriptive cross-sectional research design, the study sampled 50 participants, including students and staff, to understand how fees like ATM withdrawals, account maintenance, and transaction costs influence their money management. The findings reveal that high and often unpredictable bank charges significantly alter financial habits. Descriptive and inferential analysis showed a strong negative correlation (r = -0.684, p < 0.01) between charges and saving habits, as monthly fees and ledger deductions act as a major deterrent to maintaining formal bank balances. Consequently, many individuals are pushed toward less secure informal saving methods like cash or mobile wallets. Furthermore, the study identified a significant relationship between bank charges and conservative borrowing and spending patterns (r = 0.742, p < 0.01). To avoid repeated fees, 40% of respondents reduced their transaction frequency, and 22.5% resorted to risky bulk cash withdrawals. High processing fees also discouraged formal borrowing among both students and professionals. Overall, bank charges accounted for 51.1% of the variation in financial behavior within the university community. The study concludes that current fee structures hinder financial inclusion and recommends that banks introduce student-specific "zero-fee" accounts and improve transparency in fee disclosure to foster better financial engagement.