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Abstract
Saving can be an important support scheme for smallholder
farmers this is because as a tool of financial security, risk
management and growth saving is essential instrument which has
the potential to affect individual’s wellbeing. A two-stage simple
random sampling method was used to select 206 sample
respondents. Then primary data were collected through interview
schedule and FGD. The study employed descriptive statistics and
double hurdle model for data analysis. Based on descriptive
analysis results, saving plays a meaning full role for farm
households by being a financial means to deal with unexpected
issues, acquiring assets, providing basic needs, to have access to
different agricultural inputs, to expand their agricultural
activities and for their children education. In line with this; as a
result of first stage of double-hurdle model educational status,
farm-income, total land owned, age of the household head and
household expenditure are significant factors which affect farmers
saving decision while according to the result of the second hurdle
farmers level of saving significantly affected by gender, education
status, farm income, off-farm income, marital status, family size
and distance to financial institution of sample households. Then
the study suggests the concerned body should be focused on
improving farmers’ education, production, infrastructure and
financial service provision.
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